Cost & Coverage
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Whether you’re a newlywed, first-or-second-time parent or experiencing another major life event, life insurance is a crucial component of your financial plan.
But how do you ensure you don’t pay too much? Luckily, there are a few simple ways to buy affordable life insurance without skimping on coverage.
If you’re debating between different insurance types, term life insurance is almost always your best bet. Affordable and straightforward, term life insurance is designed to protect your family during a specified period of time (typically 15 to 30 years). If you die during your policy’s term, your beneficiaries receive a tax-free payout and if you don’t, the policy expires.
You may be wondering why whole life insurance isn’t the better option since it provides you with lifelong coverage, but the reality is, permanent policies are generally 5x to 10x the price of term life and are basically a combination of insurance and an investment product. Unless you have unique circumstances (like intricate estate planning needs or a special needs dependent), term life insurance is your best bet.
Did you know that comparing life insurance quotes can save you up to 40% on a policy? You compare prices on flights and hotels — why not insurance? In under two minutes, Policygenius can help you quickly compare prices from over a dozen of the largest life insurance companies online.
Compare and buy life insuranceGET STARTED
If you’re in your 20s or 30s, you might not be thinking about purchasing life insurance just yet, but it turns out now is the time to shop. Prices go up 8% to 10% every year you age, so now really is the best time to buy!
And it may not be as expensive as you think. A healthy 30-year-old can typically get $1,000,000 in coverage for under $30 a month.
Security you can trust
Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.
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