With these steps, MoneyGeek’s life insurance calculator helps you make well-informed decisions, ensuring you find a plan that offers the best coverage at a reasonable cost.
Life Insurance
Life Insurance Calculator
Updated: August 19, 2025
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Life Insurance Calculator
We’ll give you a suggested amount of cover to buy in just 3 easy steps. — it's free, no personal information required, no spam.
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Rates updated:
Aug 24, 2025
Key Takeaways
MoneyGeek's life insurance premium calculator is easy to use. Provide your ZIP code, age, weight, height, gender, health score, smoking status and preferred coverage level to get personalized quotes.
To find the best life insurance rates, compare policies and quotes from multiple insurers. Choosing the right policy term and coverage amount also helps reduce costs.
The life insurance coverage you need depends on your financial obligations and income replacement needs. Our coverage calculator can give you a baseline estimate to start your planning.
How to Use MoneyGeek's Life Insurance Cost Calculator
MoneyGeek's simple life insurance calculator is easy to use and estimates costs based on your profile and coverage needs. Here's how you can effectively use the life insurance quotes calculator:
- 1
Enter personal information
Using the life insurance calculator online, provide your basic information, including gender, age, height and weight. These details influence the base calculation of your insurance premiums. Accurate inputs are essential for generating a reliable life insurance quote estimate.
- 2
Indicate smoking status and health score
In the life insurance calculator, specify whether you smoke and select your health rating from excellent to poor. These details adjust the estimated life insurance costs to reflect risk factors, showing how health and lifestyle impact your projected costs.
- 3
Specify the coverage amount
Enter the desired coverage amount in the life insurance calculator to estimate costs. This amount should match the financial support you want to provide your beneficiaries.
- 4
Submit your information
Once all the necessary fields are filled out, submit your information. The life insurance costs calculator will process your data to generate estimates.
- 5
Review estimated costs
The calculator generates rate estimates from various life insurance companies, offering a quick view of potential costs based on your details.
- 6
Get personalized quotes
Each company estimate includes an option to get a quote. Clicking the quote button will take you to a personalized quote from that company, providing a more detailed look at potential costs.
- 7
Compare and decide
Compare quotes and information to select the policy that matches your budget and coverage needs. The life insurance premium calculator helps you make an informed choice.
Life Insurance Premium Calculator Benefits
Navigating life insurance costs can be tricky, but a cost estimator makes it easier. A life insurance premium calculator gives you accurate estimates and helps you understand how premiums are structured, so you can make informed decisions when choosing a policy. Here are the main benefits of using this tool:
Accurate estimates
A life insurance premium calculator lets you enter details about your coverage and gives you precise premium calculations. This helps you plan for the cost of life insurance without relying on rough estimates.
Customized policy options
Whether you use a whole life or term life insurance calculator, these tools show potential costs based on the policy's term length and coverage amount. This ensures you find options that fit your financial goals.
Speed and convenience
An online calculator provides quick estimates, saving time and eliminating the need to meet with agents or search through multiple policy documents.
Budget planning
Tools like a life insurance monthly payment calculator help you gauge your monthly or annual financial commitment, improving budget management.
Comparative analysis
With a life insurance rate calculator, you can compare the costs of different policies, like term versus permanent life insurance. This helps you understand the cost differences and weigh the benefits against the premiums.
Educational insights
Using these calculators, you can learn about the factors that affect premiums. This knowledge helps you make changes that may lower costs or adjust coverage to fit your needs.
Calculate Life Insurance Cost: Factors Impacting Premiums
Life insurance premiums vary based on personal factors, making each policy unique. Understanding these factors can help you use tools like the life insurance cost calculator to estimate your expenses more accurately.
Age Impact on Premiums
Age is an important factor when calculating life insurance premium estimates. As a rule of thumb, the younger you are, the less you'll pay in premiums. Insurance companies see younger people as lower risk, which leads to lower rates.
Health Rating Tiers and Premium Impact
Insurance companies assign health ratings during underwriting, significantly affecting your premiums:
Super Preferred Plus | Excellent health, no medical issues | Perfect health, ideal BMI, no medications | Best available rates |
Preferred Plus
| Very good health, minor issues only | Good health, occasional medication use | Below standard rates |
Standard Plus
| Good health with some manageable conditions | Controlled conditions like mild hypertension | Standard baseline rates |
Standard
| Average health with multiple factors | Multiple medications, some health history | Above standard rates |
Substandard
| Poor health requiring table ratings | Serious health conditions, recent surgeries | Significantly higher rates or coverage limitations |
Health ratings are general categories. Your actual rating depends on detailed medical underwriting by your chosen insurer.
BMI Impact on Life Insurance Rates
Your body mass index affects premium calculations, with specific ranges triggering rate adjustments:
- Preferred BMI Range (19-27): Qualifies for standard or preferred rates
- Above Average BMI (28-32): May face moderate premium increases
- High BMI (33-40): Typically results in higher premiums
- Severe Obesity (40+): May face coverage limitations or substantial rate increases
Insurance companies use height-weight charts rather than BMI calculations, but the correlation between weight and premium costs remains strong.
Gender Differences
Women typically pay less for life insurance due to longer life expectancy statistics. The difference is most noticeable during younger ages when gender-based mortality differences are more pronounced.
Lifestyle and Risk Factors
- Smoking Status: Smokers face substantially higher premiums than nonsmokers across all age groups. Even occasional smoking or nicotine use typically triggers smoker rates.
- High-Risk Activities: Hobbies like skydiving, mountaineering, or racing can increase premiums or require policy exclusions depending on frequency and safety measures.
- Occupation: Dangerous jobs such as commercial fishing, logging, or mining may face premium increases depending on specific duties and safety protocols.
Coverage Amount Impact
Premium costs scale with coverage amounts, but larger policies often have better per-dollar rates due to reduced administrative costs relative to the death benefit.
These factors work together to determine your final premium, making the underwriting process crucial for securing the best possible rates. Use our calculator above to estimate costs based on your specific profile.
How to Find the Best Life Insurance Rates
Securing the best life insurance rates involves strategy and awareness. Optimize your insurance costs by leveraging tools such as a life insurance estimator and following these practical tips:
- 1
Compare policies
Use an online life insurance calculator to compare rates from different insurers. This helps you find the most competitive premiums for the coverage you need.
- 2
Maintain a healthy lifestyle
Health is a major factor in determining life insurance rates. Lower your premiums by staying healthy, avoiding smoking and managing chronic conditions effectively. Insurers value these healthy choices, as reflected in the calculations of life insurance premium estimators.
- 3
Choose the right policy term
A life insurance needs calculator can help you select the optimal coverage period that balances cost with need. Use a term life insurance calculator and a permanent life insurance calculator to compare potential costs for different types of policies.
- 4
Adjust the coverage amount
Carefully consider your financial obligations and conduct an insurance needs analysis to determine the right coverage. For convenience, use an online life insurance calculator.
- 5
Choose annual premium payments
Opting for annual payments rather than monthly can potentially reduce overall costs. Insurers often offer discounts for upfront payments.
- 6
Regularly review your policy
Life changes can affect your insurance needs. Regular reviews using a life insurance policy calculator ensure your coverage matches your current situation, possibly lowering costs.
These steps, supported by tools like a term insurance premium calculator or life insurance needs calculator, simplify finding cost-effective life insurance solutions.
Life Insurance Rates by Age and Policy Type
Understanding typical life insurance premiums helps you budget for coverage and compare quotes effectively. These sample rates show how premiums vary by age, gender and policy type across the three main categories of life insurance.
These rates represent average premiums for healthy applicants with standard underwriting based on MoneyGeek's 2025 analysis. Your actual rates may be higher or lower based on your specific health, lifestyle and the insurance company's current pricing. Use our calculator above for personalized estimates based on your profile.
Term Life Insurance Rates
Term life insurance offers the most affordable coverage for temporary needs, making it the most popular choice for young families and working professionals. These term policy rates show how premiums increase with age, as insurers face higher mortality risk for older applicants. Term policies provide pure insurance protection without cash value, keeping premiums low during the coverage period.
Data filtered by:Results filtered by:
Select
Age:40
Select
Gender:Male
Select
Coverage Level:$500,000
| 10 years | $33 | $382 |
| 15 years | $43 | $494 |
| 20 years | $53 | $606 |
| 25 years | $70 | $840 |
| 30 years | $87 | $1,000 |
| 35 years | $101 | $1,216 |
| 40 years | $148 | $1,777 |
Whole Life Insurance Premiums
Whole life insurance combines permanent coverage with a cash value component that grows over time. While premiums are significantly higher than term insurance, they remain level throughout your lifetime and build cash value you can access through loans or withdrawals. These rates reflect the insurance cost plus the savings component, making whole life suitable for estate planning and long-term financial goals.
Data filtered by:Results filtered by:
Select
Age:40
Select
Gender:Male
| $50,000 | $67 | $801 |
| $100,000 | $133 | $1,602 |
| $150,000 | $200 | $2,403 |
| $200,000 | $267 | $3,203 |
| $250,000 | $334 | $4,004 |
| $300,000 | $400 | $4,805 |
| $350,000 | $467 | $5,606 |
| $400,000 | $534 | $6,407 |
| $450,000 | $601 | $7,208 |
| $500,000 | $667 | $8,009 |
| $550,000 | $734 | $8,809 |
| $600,000 | $801 | $9,610 |
| $650,000 | $868 | $10,411 |
| $700,000 | $934 | $11,212 |
| $750,000 | $1,001 | $12,013 |
| $800,000 | $1,068 | $12,814 |
| $850,000 | $1,135 | $13,615 |
| $900,000 | $1,201 | $14,415 |
| $950,000 | $1,268 | $15,216 |
| $1,000,000 | $1,335 | $16,017 |
| $1,500,000 | $2,002 | $24,026 |
| $2,500,000 | $3,337 | $40,043 |
Universal Life Insurance Cost
Universal life insurance offers flexible premiums and death benefits, allowing you to adjust coverage as your needs change. Universal life works well for sophisticated financial planning, offering investment options and the ability to modify coverage without purchasing a new policy. These rates show the average premiums needed to keep policies in force, though you can pay more to build additional cash value.
Data filtered by:Results filtered by:
Select
Age:40
Select
Gender:Male
| $50,000 | $29 | $353 |
| $100,000 | $59 | $706 |
| $150,000 | $88 | $1,058 |
| $200,000 | $118 | $1,411 |
| $250,000 | $147 | $1,764 |
| $300,000 | $176 | $2,117 |
| $350,000 | $206 | $2,470 |
| $400,000 | $235 | $2,822 |
| $450,000 | $265 | $3,175 |
| $500,000 | $294 | $3,528 |
| $550,000 | $323 | $3,881 |
| $600,000 | $353 | $4,234 |
| $650,000 | $382 | $4,586 |
| $700,000 | $412 | $4,939 |
| $750,000 | $441 | $5,292 |
| $800,000 | $470 | $5,645 |
| $850,000 | $500 | $5,998 |
| $900,000 | $529 | $6,350 |
| $950,000 | $559 | $6,703 |
| $1,000,000 | $588 | $7,056 |
| $1,500,000 | $882 | $10,584 |
| $2,500,000 | $1,470 | $17,640 |
Where to Get Life Insurance
Insurance companies offer a range of life insurance policies, including term life insurance, which covers you for a set period, and whole life insurance, which provides lifelong coverage and a cash value component. Universal life insurance, a type of permanent coverage with an investment savings element, is another option.
Insurance brokers can also be helpful. They work with multiple companies, giving you a broader view of the market and helping you find the best policy for your needs. They may also offer a free life insurance needs calculator.
When comparing life insurance providers, consider their financial stability, customer service and policy options. Check ratings from agencies like AM Best or Standard & Poor’s to assess financial strength. Customer reviews provide insight into service quality, and a wide range of policy options ensures you find a plan that fits your needs.
MONEYGEEK EXPERT TIP
The right life insurance policy depends on your financial situation, health and long-term goals. Compare providers and policies to ensure you make the best choice for your future. Tools like an online life insurance calculator can help you make an informed decision.
How to Calculate Amount of Life Insurance Needed
replacement needs (usually ten times your annual income). This sum is then adjusted by subtracting existing assets and insurance coverage to determine the appropriate coverage amount that would help your beneficiaries maintain their lifestyle and meet financial responsibilities after your passing. To tailor a policy to your needs, follow these steps:
- Evaluate future financial obligations: Look beyond current expenses and consider future needs, like mortgage payments or your children’s education. This helps you understand the long-term impact of coverage. You can estimate these costs using a life insurance needs calculator.
- Factor in income replacement: Calculate how many years of income you need to replace if you can no longer provide for your family. This step is crucial for maintaining your family’s financial stability. A life insurance policy calculator can help determine an accurate replacement amount.
- Consider debts and liabilities: Include all outstanding debts, like loans and credit card balances, in your coverage amount. A life insurance value calculator ensures these debts are covered, helping prevent financial challenges for your family.
- Plan for end-of-life expenses: Account for funeral costs, medical bills and other final expenses. A life insurance estimator can help predict these costs, reducing the financial burden on your family during a difficult time.
- Review with a financial advisor: Consult a financial advisor to review your life insurance needs. An expert can offer insights and adjustments based on your financial health and goals.
Life Insurance Needs Calculator: Determine Your Life Insurance Coverage Needs
Knowing the right amount of coverage ensures you get adequate life insurance protection. Use the life insurance needs calculator below to determine what coverage you need.
Life Insurance Rate Calculator: Bottom Line
Personal details like age, height and weight help accurately calculate your life insurance rates. The estimate you'll get from MoneyGeek's life insurance quote calculator can guide your search for affordable coverage and the best companies to fit your budget and needs. Before using our premium calculator, determine your life insurance coverage needs.
Life Insurance Quote Calculator: FAQ
Here are answers to common questions about estimating life insurance costs to guide you in securing coverage.
Is the life insurance calculator free?
MoneyGeek's term life insurance cost estimator is always free. We ask for some personal information to provide an accurate, personalized estimate of your premiums, but we don't store any of the details you submit.
How can you get a life insurance estimate?
To get a life insurance cost estimate with MoneyGeek's life insurance cost calculator, input your personal data, including age, gender, health score and desired coverage. The life insurance quotes calculator will list estimated costs from various insurance companies tailored to your specific details.
What impacts your life insurance cost estimate?
Personal factors influence life insurance costs, including age, gender, health history, lifestyle, desired coverage amount and body mass index. Each of these elements plays a role in determining the insurer's risk level, impacting the premium you pay.
How much does life insurance cost?
Life insurance costs vary based on age, health, lifestyle and coverage needs, making each person's premium unique to their situation.
How much life insurance do you need?
When choosing the right life insurance coverage amount, consider factors like outstanding debts, income replacement, future educational expenses for dependents and end-of-life costs. A common guideline is to secure coverage 10 to 12 times your annual income, though individual circumstances may vary. A life insurance needs calculator can help provide an estimate.
Where can you get affordable life insurance?
Affordable life insurance is available through insurance companies, online marketplaces and brokers. Compare quotes from the cheapest life insurance companies to find a cost-effective policy. Some employers also offer life insurance as a benefit, which can be affordable.
Use tools like a life insurance policy calculator to check quotes for a quick comparison. Term life insurance calculators are often available on insurance company websites, financial advice platforms and third-party financial tools.
What is the best life insurance calculator?
The best life insurance calculator is easy to use and offers comprehensive features. It should allow for policy comparisons, detailed financial analyses and customizable inputs based on your personal circumstances. Good calculators are regularly updated to provide accurate estimates, helping you make informed decisions about your life insurance needs.
How much should life insurance cost?
Life insurance costs should reflect your financial needs and coverage goals. A life insurance premium calculator can help you estimate the appropriate amount based on your personal circumstances.
How much is $1 million life insurance?
The premiums for a $1 million life insurance policy vary based on age, health, policy type and insurer. Based on MoneyGeek's analysis of life insurance cost estimates from different providers, the average monthly cost for a 10-year term policy is $62 for men and $53 for women. A 20-year term policy with the same coverage amount costs an average of $94 monthly for men and $80 per month for women. These rates are based on quotes for 40-year-old nonsmokers with average health and weight.
How much is whole life insurance?
The cost of whole life insurance varies widely based on factors like age, health and the coverage amount. Use a whole life insurance calculator to get a tailored estimate. You may also contact insurers directly for more detailed quotes.
What is a good amount for life insurance?
A good amount of life insurance covers your debts, ongoing living expenses and future obligations. Life insurance calculators can assist in estimating the coverage needed.
Is $100,000 life insurance enough?
Whether $100,000 in life insurance is enough depends on your financial responsibilities and goals. An online life insurance calculator can help you determine the coverage amount that best aligns with your needs.
How much can you get from life insurance?
The amount you can get from life insurance varies based on the policy's face value and any riders attached.
What is the minimum life insurance policy?
The minimum life insurance policy usually depends on the insurer, but small policies might start around $10,000. Life insurance policy cost calculators provide estimates for various coverage levels.
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How Our Life Insurance Calculator Works: Our Methodology and Rate Analysis
Choosing life insurance feels overwhelming when you're trying to balance coverage needs with monthly budget constraints. Most online calculators give you generic estimates that don't reflect what you'll actually pay. We built our life insurance calculator differently, using proven actuarial methods and current industry data to provide realistic premium estimates that help you make informed coverage decisions.
How We Gathered Rate Data
We analyzed 1,488 life insurance quotes from major life insurance companies, incorporating the same rating factors insurers use when determining your premiums. Our research included rate filings and premium data to ensure accuracy across different policy types and coverage amounts.
Coverage costs and company information were updated in 2025 to reflect current market conditions.
Our Sample Profile Approach
We used a standard baseline profile to ensure consistent rate comparisons:
- 40-year-old male
- Nonsmoker
- 5'9" and 160 pounds
- Average health rating
From this baseline, we adjusted variables that directly impact your premiums:
- Age ranges from 18 to 85 to track how premiums increase over time
- Coverage amounts and term lengths reflecting real buyer needs at different life stages
- Policy types include term, whole, universal, indexed universal, no-exam, and guaranteed acceptance
- Gender adjustments with female quotes based on 5'4" and 120 pounds
- ZIP Codes to reflect differences in costs by location
We identified trends in our dataset and used those patterns to calculate projections and extend coverage beyond our original data collection.
The estimates represent baseline premiums for standard health applicants. Your actual rates may vary based on detailed medical underwriting, specific health conditions, lifestyle factors, and your chosen insurer's current pricing strategies. Final premiums are determined only after completing the full application and underwriting process.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.