Estimate how much life insurance coverage you need and your monthly premium based on age, health, and term length.
Monthly Premium = Base rate per $100k coverage (by age)
Age 18-29: $8 / Age 30-39: $12
Age 40-49: $22 / Age 50-59: $45
Age 60-69: $95 / Age 70+: $200
x Coverage amount / $100,000
x Gender (Female: 0.85 / Male: 1.0)
x Health (Excellent: 0.80 - Below Avg: 1.60)
x Smoker (Yes: 2.20 / No: 1.0)
x Term (10 yr: 0.85 / 20 yr: 1.0 / 30 yr: 1.20 / Whole: 8.0)
Range = Estimate x 0.85 to Estimate x 1.15
A common rule of thumb is 10-12 times your annual income. A more precise method adds up income replacement, outstanding debts, mortgage balance, and future education costs.
Term life covers you for a specific period at a lower cost. Whole life provides permanent coverage with a cash value component but costs significantly more.
Yes, smokers typically pay 2-3 times more than non-smokers for the same coverage due to significantly higher mortality risk.
The younger and healthier you are when you buy, the lower your premiums. Most financial advisors recommend buying in your 20s or 30s.
Yes, though your options and rates will depend on the condition. Some conditions result in higher premiums, while others may limit you to certain policy types.
Age and health. Life insurance is cheapest when you are young and healthy; premiums climb with age and with health or tobacco use. Locking in a term policy earlier generally costs less over its life.
Coverage amount and term length. The death benefit and the number of years of coverage are the main levers. A larger benefit or a longer term raises the premium proportionally.
Policy type. Term insurance covers a set period at the lowest cost; permanent insurance lasts for life and builds cash value at a much higher premium. This calculator estimates term coverage unless noted.
The monthly range spans the difference between a preferred, healthy applicant (low end) and a standard or higher-risk applicant (high end). Because life insurance is medically underwritten, your final rate depends on an application and often an exam. Use the estimate to size the benefit and budget, then apply to see your true class.
This is an educational estimate, not a quote or an offer of coverage. It cannot account for the medical exam, family history, or lifestyle factors an insurer will assess, and it assumes level-term coverage. It does not price permanent policies or riders. Compare real quotes from licensed insurers, and consider how much coverage you actually need before choosing an amount.
Term is far cheaper for the same death benefit because it covers a set period and builds no cash value. Whole life costs much more but lasts for life and accumulates value.
Many traditional policies require one, though some no-exam policies exist at a higher price. Your health and family history strongly affect your final rate.
A common rule is 10–12 times your income, but a needs-based calculation that accounts for debts, dependents, and existing savings is more accurate. Use the life insurance needs calculator to refine it.
Interpret a quote with reading a life insurance estimate, size your need in how much life insurance do I need, compare policy types in term vs. whole life, and choose with how to choose life insurance. Pin down your number with the life insurance needs calculator.
Coverage need estimates use the DIME method (Debt, Income replacement, Mortgage, Education). Premium estimates use age-banded base rates per $100,000 of coverage multiplied by health, gender, smoker, and policy-type factors. Base rates are consistent with published term life actuarial averages from LIMRA industry data. Rates reviewed June 2026.
Data sources: