LV= uses cookies to give you the best experience online and to provide anonymised, aggregated site usage data. You can find out what cookies we use and how you can disable them in our Cookie Policy. By continuing to use our website, you agree to our use of cookies in accordance with our cookie policy unless you have disabled them.

skip to main content

Life Insurance with Critical Illness

How much life insurance cover should I take?


Life insurance can provide money when it's needed most, but choosing the right amount can be difficult.

You could be taking Life Insurance for a number of reasons, such as providing for your family or paying off a mortgage. Affordability is a factor as well when considering how much cover to take. Ultimately, you'll be thinking how to provide for people that rely on you financially after you're gone, adding it up and choosing the right cover.

If you don't have anyone relying financially on you, you may want to consider ways to protect yourself instead, such as from illness and loss of income.

Tips to consider when deciding how much cover

  1. The cost to repay a mortgage and other debts.
  2. Household bills including food and utilities.
  3. The cost of raising your children.
  4. If your partner would have to reduce time or leave work to look after your children and how that might affect the household income.
  5. If you have cover in place already, such as employee benefits and pension plans.

Everyone's circumstances are different, if you're unsure how much you need you should speak to a financial adviser

Helpful articles

Financial planning checklist

Back to Life Insurance cover questions

Our life insurance application is quick and easy

Understand life cover

We've created lots of useful information to guide you through the process of finding which life insurance product is right for you.

Find out more about life cover

Why choose LV=

An insurance provider you can trust established in 1843.

  • 97% of claims paid in 2016
  • UK's largest friendly society

Policy documents

  • Policy summary
  • Policy conditions

View policy documents


From what's covered, ways to get set up or even how to claim, our library of FAQs can help.

View our Life Insurance FAQs