💼 Life Insurance Premium Estimator
Get an instant estimate for term or whole life insurance based on your age, coverage amount, and health profile.
Life Insurance FAQ
Term life covers you for a specific period (10-30 years) and pays a death benefit only if you die during the term. It's much cheaper (typically $20-50/month for $500K coverage for a 35-year-old). Whole life provides lifelong coverage with a cash value component that grows tax-deferred. It's much more expensive (typically $300-600/month for the same coverage) but builds equity you can borrow against.
Financial experts recommend 10-15x your annual income. A common rule: (1) Pay off all debts including mortgage, (2) Replace income for 10+ years, (3) Fund children's education, (4) Cover final expenses ($15-25K). Use our calculator to test different coverage amounts and see the premium impact.
As early as possible. Premiums increase by 8-12% per year of age. A healthy 30-year-old can get a 30-year, $500K term policy for ~$30/month. Wait until 45, and that same policy costs ~$75/month. Lock in low rates while you're young and healthy.
It depends. Many insurers now offer "no-exam" or "accelerated underwriting" term policies up to $1-2M for healthy applicants under 60. These use data from your medical records (MIB, Rx database, MVR) instead of a paramedical exam. Larger policies or older applicants typically still require a medical exam.
📎 You Might Also Need
Based on your life insurance calculation, you may also want to estimate these costs: