Life Insurance Calculator
Estimate your monthly premium and recommended coverage amount in seconds — free, private, no account needed.
$
$
Used only to suggest recommended coverage — not factored into premium.
$
Estimated Monthly Premium
Fill in your details and click Calculate.
⚠️ Disclaimer: These are illustrative estimates based on publicly available industry rate tables. Actual premiums vary significantly by insurer, underwriting results, medical exam, and policy details. Always get quotes from a licensed insurance agent before purchasing a policy. This is not financial or insurance advice.
About Life Insurance Premium Calculator
This calculator uses industry-standard rate tables to give you a ballpark monthly premium estimate for term life insurance. Rates are driven primarily by age, gender, health class, and smoker status. The coverage recommendation is based on the DIME method (Debt, Income, Mortgage, Education) — a widely used financial planning framework.
How Term Life Insurance Works
- Term life covers a fixed period (10, 15, 20, or 30 years) — if you die during the term, your beneficiaries receive the death benefit tax-free
- Health rating is assigned by insurers after a medical exam: Preferred Plus is the best rate (excellent health, no family history); Standard is average
- Smokers pay 2–3× more than non-smokers — quitting for 12 months may qualify you for non-smoker rates
- Coverage rule of thumb: Most financial advisors recommend 10–12× your annual income as a starting point
- Lock in rates early: A healthy 30-year-old pays roughly half the premium of a healthy 40-year-old for the same policy