LifePolicyFactsWhat it shows
The tool calculates the monthly payment on your loan, then the balance left after the year you choose. A decreasing balance can guide how much mortgage-linked cover you need as years pass.
Use it carefully
It assumes a fixed rate and standard repayments. Interest-only loans and variable rates behave differently, so check your own loan terms.
Frequently asked questions
Does cover have to follow the balance?
No. Some people keep level cover so the extra supports family costs.
Does this include insurance and taxes?
No, only principal and interest.
FA
Written and reviewed by Fawad Alam, Founder and Editor. Last updated October 2026. How we write.