Life Premium Estimator

A common rule of thumb is 10-12 times your annual income. More precisely, add up your debts (mortgage, loans, credit cards), future education costs for children, and 5-10 years of living expenses for your dependents, then subtract your existing savings and current coverage. For most families, $500,000 to $2,000,000 in term coverage is the right range.

A healthy 35-year-old pays about $27/month for a 20-year, $500,000 term policy. A 45-year-old pays about $50/month. A 55-year-old pays about $120/month. Rates are locked for the full term — your premium won't increase even as you age, as long as you pay on time.

Term life is better for 90% of people. It provides pure death benefit protection at the lowest cost for a set period (10-30 years). Whole life costs 5-15x more and includes a savings component (cash value) that underperforms investing the difference yourself. Choose term life and invest the savings in retirement accounts.

Yes, after the first 2 years. Most term life policies have a suicide clause that voids the policy only within the first 2 years. After that, suicide is covered like any other cause of death. Some states have different rules on contestability periods.

Yes, but your rate depends on the condition. Well-controlled conditions like high blood pressure, asthma, or mild diabetes often qualify for standard or preferred rates. More serious conditions may result in table-rated (higher) premiums. Some carriers specialize in impaired risk underwriting.