1
Get life insurance early
The cost of life insurance increases every year you age. Buying a life insurance policy when you’re younger and at lower risk for illness can lock you into more affordable premiums for decades.
Quickly calculate your life insurance needs.
How much life insurance do you need , and what could it cost?
Use our free calculator to find out.
Six things to consider.
Read below for tips on securing the right life insurance policy for your needs.
2
Consider your health
Some insurance companies have more flexible guidelines for certain health conditions than others, so it helps to apply with an insurer that’s favorable for your personal health profile.
3
Consider your lifestyle
Hobbies like skydiving, piloting a private plane or traveling to places considered unsafe by the state department can affect your rates because life insurance companies might see you as a higher insurance risk.
4
Consider future expenses and life changes
Make sure that your policy covers not only any current financial obligations, but also any future expenses. If you’re planning to have a family or a mortgage, securing a policy that matches the duration of those future events can help you get coverage at a cheaper rate early on.
5
Consider the right type of life insurance for your needs
You usually have to decide between two main types of life insurance policies: term life and whole life. The right type of policy for you will depend on your personal circumstances, unique needs, how much coverage you need, and how much you want to pay for it.
6
Compare life insurance companies
Every factor that contributes to determining your rates is evaluated differently by every insurer. The best life insurance company for you might not be the best for somebody else. That’s why it’s helpful to compare options across multiple insurance companies.
Frequently asked questions.
Policygenius provides free quotes tailored to your needs with support from licensed agents, helping you get insurance coverage fast so you can get on with life.
Our term life insurance calculator offers you an estimate of how much coverage you need, and a suggestion of how long your policy should last.
You’ll have two options to consider based on your budget and coverage needs.
Optimal coverage. This option recommends a policy long enough and a coverage amount large enough to pay for your family’s main expenses as well as your present and future financial needs — whether that’s paying off a mortgage or getting your children through college.
Coverage on a budget. This option recommends a policy that you can comfortably pay for year after year — even if it doesn’t offer all the coverage you need. You can opt for a shorter term to lower your premium, and speak with an agent who can walk you through different options to make sure you’re getting the best coverage for your budget.
Keep in mind that this calculator will only offer you an instant estimate of how much coverage you need. If you want to know the cost of your premiums, we’ve got you covered, too. Once you know how much coverage you’ll need, click on Get my quotes to continue your life insurance shopping journey and connect with an agent, or use our life insurance cost calculator further below on this page. At Policygenius, our experts are licensed in all 50 states and can walk you through the entire life insurance buying process while offering transparent, unbiased advice.