Estimate monthly premiums for term and whole life insurance based on your profile
| Metric | Term Life | Whole Life |
|---|
| Age | Term (20yr, $500K) | Whole Life ($500K) | Age Surcharge |
|---|
A common guideline is 10-12× your annual income. Consider your mortgage balance, outstanding debts, children's education costs, and how many years of income replacement your family would need. Use our calculator to estimate costs at different coverage levels.
For most people, term life is the better value — it's 5-15× cheaper and covers your highest-risk years. Whole life builds cash value and lasts forever, but high fees mean it often underperforms compared to buying term and investing the difference.
Yes, dramatically. Premiums roughly double every 10 years. A $500K/20-year term policy might cost $25/mo at age 30 but $90/mo at age 50. Locking in a level-premium term policy while young saves thousands over the life of the policy.