Find out what cover you need with our critical illness calculator
Are you aware how much critical illness insurance cover you would need, to replace your income if a health setback forced you to give up work?
Our online critical illness calculator will give you the answer! Use our simple critical illness insurance calculator to factor in your household income, plus your mortgage and other owings, and calculate critical illness cover as it applies to your personal situation.
Use our critical illness calculator or talk to one of the Principle First team on 0800 678 5929 now!
Based on this information, our independent critical illness experts can then search the whole market, and give you a critical illness insurance quote for the very best critical illness cover for you.
Calculating critical illness cover to suit your joint situation
At Principle First, we calculate critical illness cover taking into account not only your income, but also your spouse’s income. Our critical illness cover calculation recognises that, if one breadwinner in a household is struck down by a major illness, this can actually mean the loss of both incomes, because the second spouse may have to stay at home as a carer.
In other words, a financially self-sufficient, two-income family can suddenly find themselves living on state benefits, having lost both incomes in just a matter of weeks. Calculating critical illness cover correctly is, therefore, essential.
When you work with us to calculate critical illness cover, using our critical illness calculator, Principle First can also advise you on related products such as accident, sickness and unemployment insurance, which covers not only illness but also loss of income through redundancy, and income protection insurance, which provides a regular monthly income, if you fall ill.
Critical illness cover calculation - accepting financial realities
Critical illness cover can be expensive, if taken to cover you until you retire. At Principle First, we can cut the cost. We can offer you the option of insuring yourself for a shorter time, allowing instead a reasonable convalescence period, before returning to work.
For a couple, the best critical illness cover is a sum equal to two years of their joint net salaries. If a man’s salary of £20,000 gross is £16,000 net, and his wife’s salary of £10,000 gross is £8,000 net, this brings their joint net income to £24,000. They should, therefore, each have critical illness cover of £48,000, to cover their joint income for two years if one becomes ill, and the other stays home as carer.
To secure your family income, use our critical illness calculator or talk to one of the Principle First team on 0800 678 5929 now!
