Life Insurance Calculator

Life insurance provides financial protection for your loved ones if you pass away. It pays a lump sum (called a death benefit) to your beneficiaries to help replace your income, pay off debts, and cover final expenses. Calculate how much coverage you need in minutes.

Why Life Insurance Matters

Income Protection
Replace lost income for your family
Debt Coverage
Pay off mortgage and other debts
Peace of Mind
Know your family is protected
54%
Of Americans have life insurance
10x
Income rule of thumb
$107
Your estimated monthly cost
$1065K
Your coverage need

See Your Coverage Breakdown

What You Need Coverage For

Income Replacement
$750,000
Debt Coverage
$250,000
Emergency Fund
$50,000
Final Expenses
$15,000
Total Coverage Needed$1,065,000

Monthly Premium Comparison

$107
Term Life Insurance
20-year term
$852
Whole Life Insurance
Permanent coverage
$8946 per year
You save with term life

Life Insurance Calculator

1870
$30K$250K
06
$0$1M
$1,065,000
Recommended Coverage
$107
Term Life/month
$852
Whole Life/month

Your Breakdown

Income Replacement$750,000
Debt Coverage$250,000
Emergency Fund$50,000
Final Expenses$15,000
Recommendation: Term life insurance is typically the best choice for most people due to lower cost and higher coverage amounts.

Life Insurance Questions & Definitions

Key Life Insurance Terms

Death Benefit

The amount paid to beneficiaries when the insured person dies.

Underwriting

The process insurers use to evaluate your risk and determine your premium.

Rider

Optional add-ons to your policy for additional coverage (disability, accidental death).

Grace Period

Time after a missed premium payment during which your policy remains active.

Convertible Term

Term policies that can be converted to permanent insurance without a medical exam.

Level Premium

Premiums that stay the same throughout the policy term.

Lapse

When a policy ends due to non-payment of premiums.

Contestability Period

Usually 2 years when insurers can investigate claims for fraud or misrepresentation.

Ready to Protect Your Family?

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