Users will enter the employees’ gender, age and the term over which the business would be at risk, either with each employee’s predicted retirement age or a set term.
The calculator then produces percentage risk, based on ONS Life Tables for England and Wales.
In a given example, with a business employing two men and one woman aged 40 there is a 29.8% chance that one of them could die before they hit 65.
Based on that data, to cover all three employees through PruProtect could cost £55.29 a month for an assured sum of £150,000 each.
Cover would run for a 25 year term until they reach 65.