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Our underwriting experts will match you with the right insurance company and ensure you get the best possible price on your policy. Got offered a lower price elsewhere? Let us try to beat it.

How does it work?

Our underwriting experts will match you with the right insurance company and ensure you get the best possible price on your policy. Got offered a lower price elsewhere? Let us try to beat it.

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Better than your average broker.

Compare quotes and get life insurance right

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Shop the marketplace.

Save up to 40% by comparing quotes from top insurers all in one place.

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Get unbiased advice.

Our licensed, salaried insurance experts are here to help at every step.

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Buy with confidence.

You won't find lower rates out there. (If you do, we'll give you $100.)

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The Policygenius Difference

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LIFE INSURANCE, SIMPLIFIED

Why buy life insurance through us?

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Life insurance doesn't have to be complicated! Get accurate quotes, compare policies, and start the application process all in one place with Policygenius.

  • Compare quotes online

    The exact same life insurance policy can vary in price by up to 50% between different insurers. By comparing quotes, you can save.

  • Calculate your needs

    Answer a few questions to calculate exactly how much life insurance you need. No more, no less.

  • Apply online

    Apply through Policygenius and our licensed experts will handle all the paperwork - at no extra cost.

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Not sure how much life insurance you need?

Find out with our coverage calculator.

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Ask us anything.

Our in-house team of licensed life insurance experts are available to offer advice when you need it.

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The reviews are in

We make life insurance easy.

Understanding life insurance

What is life insurance?

Life insurance provides a tax-free lump sum of money to your loved ones after your death so you can make sure they’re able to pay everyday bills, children's college costs, or final expenses. A life insurance policy provides affordable financial protection — and invaluable peace of mind — to people with friends or family who rely on them.

Life insurance basics:

  • You choose how many years your policy will last (the term) and the coverage amount that will be paid out if you die (the death benefit).
  • You pay for the policy in the form of monthly or annual premiums. You can compare quotes from multiple life insurers to see the different monthly rates they charge for a policy.
  • If you die while your life insurance policy is in effect, its death benefit is paid out to your chosen beneficiaries, who can use the money to pay off debts, cover expenses, like your monthly mortgage or rent payments, and more.

Types of life insurance

At the end of the day, most people will choose between two different types of life insurance: term life insurance, which lasts for a set amount of time before expiring, or whole life insurance, a type of permanent life insurance that has an investment-like cash value component and stays in effect for as long as you make the premium payments.

TERM LIFEWHOLE LIFE
ExpiresYesNo
Cash ValueNoYes
Average Monthly Cost?$25-$356-10x more than term

➞ In Our Learn Center: Term life insurance vs whole life insurance

Whole life insurance can be good for people with complex financial situations or estate planning needs, but term life is the right choice for most shoppers because it’s the cheaper and more straightforward option.

There are even more types of life insurance with their own benefits, drawbacks, and unique properties. Talk to an expert before choosing a more complex policy – a term life policy will work best in most cases.

Average cost of life insurance

According to an annual study by nonprofit organization Life Happens and industry group LIMRA, more than half of people think term life insurance is at least three times more expensive than it actually is.

In truth, a term policy can provide a large death benefit at an affordable cost. A healthy 30-year-old man can get a $250,000, 20-year-term policy starting at around $16 a month. See our quotes comparison below for sample rates.

BENEFIT AMOUNTAGE 30AGE 35AGE 40AGE 45AGE 50
$250,000$16.14$17.04$21.75$32.71$47.86
$500,000$25.97$27.26$36.68$58.22$84.81
$750,000$36.25$38.18$53.28$84.75$129.13
$1,000,000$43.94$47.37$65.32$108.15$167.06

➞ In Our Learn Center: Life insurance rates by age

The following factors go into determining the cost of your life insurance policy:

  • Your policy — The type of policy you choose, along with the term length and coverage amount, will help set the base cost of your policy.
  • Your health — Life insurance is all about risk, so the healthier you are, the cheaper your policy will be.
  • Your age — The cost of a life insurance policy increases at a rate of 8-10% each year you put off buying one.
  • Your hobbies — Dangerous hobbies, like skydiving and scuba diving, may raise your life insurance rates.
  • Your gender — In general, men pay more than women for comparable policies.

Each life insurance company will weigh factors differently. Policygenius can help you easily compare life insurance quotes from multiple carriers to make sure you’re getting the best rates.

➞ In Our Learn Center: Understanding the cost of life insurance

Will using Policygenius cost me more?

No. Like traditional brokers, Policygenius gets a commission from the life insurance company when you buy a policy. But that commission is already included in your quote and you’ll end up paying the same rate whether you buy through the insurer directly, another broker, or Policygenius.

The best part? Our agents are salaried and aren’t incentivized to upsell you on the coverage you won’t need. That means getting the protection you can afford.

Who needs life insurance?

A 2019 report by the U.S. Federal Reserve Board showed that nearly 40% of adults would have trouble paying a $400 emergency expense, and 12% "would be unable to pay the expense by any means." Life insurance helps protect anyone who depends on your income or services from such emergencies.

Life insurance policyholders commonly include:

  • Students — Did you know that your parents may be on the hook for your debt if they cosigned your student loans? Anyone with cosigned debt should consider life insurance, even if you’re young.
  • Spouses — Marriage complicates finances, and you’ll feel better if you know your significant other is taken care of regarding any shared debt or future financial plans.
  • Parents — Whether it’s diapers or tuition, kids are expensive. A life insurance policy ensures their costs are taken care of from cradle to college.
  • Homeowners — Mortgages are the biggest, longest-lasting debt most people will take on. A good rule of thumb is to have a life insurance policy that lasts as long as your mortgage. It's not uncommon for a policy to last 20 or 30 years.
  • Business owners — A smart business owner will have an insurance policy so their partners can keep the company going even after you’re gone.

You might consider life insurance even if you don’t fall into one of those buckets. For example, you can use a death benefit to leave behind a charitable gift to a museum or foundation.

➞ In Our Learn Center: Do I need life insurance?

I have group life insurance through my employer. Do I still need a private insurance policy?

Group coverage is a popular workplace perk but often falls short in two ways: It limits the benefit amount and isn't transferable between employers. A private insurance policy allows you to customize your coverage and stay protected for as long as you need it.

Already have group life insurance? Let our agents help you find the right supplemental policy to complete your coverage.

Getting started with life insurance

Ready to start shopping for life insurance? Even if you’re not ready to buy, you can take some commitment-free steps to compare life insurance quotes and see what your options are – no email or phone number required.

  1. Get the right documentation. You’ll need basic information about your finances and health history to get the most accurate quotes. Later in the application process the insurance company may need more medical information but for now you'll just need information on things like if you're a smoker or have a family history of heart disease.
  2. Determine how much life insurance you’ll need. Take into account any assets, debts, dependents, and future expenses to get an idea of your family’s coverage gap. A good starting point for the death benefit is an amount 10-12 times your salary so your family can cover their costs for many years into the future. Still not sure? Try our free life insurance calculator.
  3. Compare quotes online instantly. You can save up to 40% by comparing rates and making sure you’re getting the most affordable deal. Policygenius allows you to do this in one place for an apples-to-apples comparison of over a dozen insurance companies. We'll recommend the best policy for you, or a licensed agent can walk you through your options and help you choose the best policy.

➞ In Our Learn Center: How much life insurance coverage do I need?

What happens if my policy costs more than I was quoted?

Policygenius is proud to provide industry-best life insurance quotes. But sometimes information uncovered during the application process means your policy will cost more than expected.

When this happens, we'll shop your application around to our partner carriers and negotiate to get you the best price possible — guaranteed.

What's next?

Once you've compared rates and applied online, a Policygenius expert will walk you through the rest of the process. We'll schedule your medical exam, handle all the paperwork, and answer any questions you have during the underwriting process. You’ll be able to check the progress of your application online with our simple dashboard for a hassle-free experience.

Life insurance company reviews

Here’s a secret: For most people, the cheapest life insurance policy is the best one.

But some insurers differ in how they treat people of different ages or with different health conditions. So which insurance company will offer you the most affordable option?

Don’t worry — we’ve done the heavy lifting and reviewed the best life insurance companies in America:

Ready to shop for life insurance?