Life Insurance Premium Calculator — Accurate Coverage & Cost Estimates

Life Insurance Premium Calculator

Calculate life insurance premiums, coverage needs, and policy costs. Get personalized estimates for term life, whole life, and universal life insurance.

Step 1: Personal Details

Health Factors

Your age, health status, and lifestyle significantly impact life insurance premiums. Non-smokers with excellent health typically get the lowest rates.

Step 2: Policy Details

Policy Selection

Term life offers affordable coverage for a specific period. Whole life provides lifelong coverage with cash value accumulation but higher premiums.

Life Insurance Premium Results

Summary
Cost Breakdown
Policy Comparison

Estimated Monthly Premium

$42.50
Coverage Amount: $500,000
Annual Premium
$510.00
Policy Term
20 years
Health Rating
Preferred
Risk Category
Low

Premium Cost Breakdown

Base Premium
$38.25
Age & Coverage factor
Health Adjustment
+$2.55
Based on health status
Riders & Add-ons
+$1.70
Additional benefits
Total Monthly
$42.50
Final premium

Premium Factors

Your premium is calculated based on mortality risk, coverage amount, policy type, and additional riders. Age is the most significant factor affecting life insurance costs.

Policy Type Comparison

Policy Type Details

Term vs. Whole Life Insurance

Term life provides pure death benefit protection for a specific period. Whole life offers lifelong coverage with cash value accumulation but at 5-15x higher premiums.

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