Gibraltar Life Insurance Needs Calculator
Work out how much life insurance cover you need in Gibraltar based on income, debts and dependants.
10x annual income is a common UK/Gibraltar-adjacent financial-planning rule of thumb (no Gibraltar-specific industry guidance was found independently — Gibraltar's advisory market is UK-linked and generally follows UK conventions); treat it as a starting point to be adjusted for actual debts, dependants and existing cover. Gibraltar has no state life-insurance-equivalent survivor benefit comparable to a UK death-in-service scheme for the self-employed; social insurance provides only a modest funeral grant and survivor's pension via the Group Practice Medical Scheme / Social Insurance system, well below most households' full income-replacement need.
Working out how much life cover you actually need in Gibraltar
Gibraltar has no state life-insurance-equivalent survivor benefit comparable to a UK death-in-service scheme, particularly for the self-employed — social insurance provides only a modest funeral grant and survivor's pension through the Group Practice Medical Scheme / Social Insurance system, well below most households' full income-replacement need. This calculator estimates a starting sum-assured figure based on your income and circumstances.
How the estimate is built
- A default of 10 years of income replacement, a common rule of thumb in the UK and Gibraltar's UK-linked advisory market (no fully independent Gibraltar-specific industry benchmark was identified, since Gibraltar's advisory market generally follows UK conventions)
- The modest funeral grant and survivor's pension available through Gibraltar's Group Practice Medical Scheme / Social Insurance system, which falls well short of full income replacement
- Your outstanding debts, such as a mortgage, which a lump sum would need to clear
- The number of dependants relying on your income, which the starting figure should be adjusted for
