Term Life Insurance Calculator

Find the term life insurance that’s right for you with our free life insurance calculator.

How much term life insurance do you need?

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Make The Smart Life Insurance Choice

Term life insurance protects your family financially—but it doesn’t have to cost a fortune. Our life insurance calculator lets you know how much you’ll need. And it takes less than five minutes to get your numbers!

Why Term Life Insurance?

Term life insurance is a tool to protect your loved ones financially if you pass away. Here’s how it works: First, your family invests the insurance payout they’ll get. Then, they can use the interest earned on those investments to take care of their financial needs.

Avoid whole life insurance. It costs hundreds more a month and gives you a terrible return. Instead, pay a fraction of the cost for term life insurance. Then you’re free to invest what you would have paid for whole life insurance—and you get to choose your investments!

Cost of Term Life Insurance

Fortunately, most term life insurance costs a lot less than people think. The price is based on:

  • Age—the longer you put off life insurance, the more expensive it gets
  • Health—the healthier you are, the better the rates
  • Coverage Amount—usually 12 times your annual income
  • Term— the length of time you have the insurance policy (usually 10–20 years) 

What to Expect With our Term Life Insurance Calculator

This site and its tools are provided for generalized informational and illustrative purposes only. The tools offered on this site are designed to provide accurate information, but your individual situation may necessitate analysis of additional factors not accounted for by this site or its tools. When making decisions regarding insurance coverage or considering the information provided by this tool, you should consult licensed professionals. The Lampo Group, LLC, and its affiliates, do not provide legal, accounting, insurance or other professional advice. The information generated by this tool depends upon the information you supply, and, therefore, we do not warrant any results or information generated by this tool.