Find out exactly how much life insurance coverage you need — and what it should cost. Free, instant estimates.
Buying term life in your 30s locks in low rates for 20 years. A healthy 32-year-old can get $1M in coverage for under $35/month — rates only increase significantly after 40.
Estimates based on 2026 industry averages. Actual rates depend on medical underwriting. Always get quotes from licensed agents.
| Age | $500K 20-Yr Term (Male) | $500K 20-Yr Term (Female) | $1M 20-Yr Term (Male) |
|---|---|---|---|
| 25 | $18/mo | $15/mo | $30/mo |
| 30 | $21/mo | $18/mo | $36/mo |
| 35 | $26/mo | $22/mo | $46/mo |
| 40 | $39/mo | $33/mo | $72/mo |
| 45 | $64/mo | $52/mo | $122/mo |
| 50 | $104/mo | $82/mo | $198/mo |
| 55 | $178/mo | $134/mo | $342/mo |
Covers you for 10, 20, or 30 years. Pays death benefit only if you die during the term. Cheapest option — a $500K 20-year policy costs $18–26/month for a healthy 30-year-old.
Permanent coverage that never expires. Builds cash value you can borrow against. Costs 5–15x more than term — the same $500K costs $300–500/month. Best for estate planning.
Permanent coverage with flexible premiums and a cash value component tied to investment performance. More complex than whole life, costs vary widely based on market performance.
The most accurate formula: Debt + Income (10 years) + Mortgage + Education costs. Add these up for your recommended coverage amount.
A simple rule: carry 10–12x your annual income. If you earn $75,000/year, carry $750,000–$900,000 in coverage. Add more if you have a mortgage or young children.
Parents should add $100,000–$200,000 per child to cover college costs and lost support. Stay-at-home parents also need coverage — replacing childcare costs $30,000–$50,000/year.