Compare life insurance quotes

You already have everything you need to get life insurance quotes

• Basic details like your age, gender, date of birth, and ZIP code

• Individual and household income

• Health and lifestyle information, like your height, weight, and basic medical details

• All the same information for your spouse, if you’d like to get coverage for them too

What is life insurance?

Life insurance is the best way to provide a financial safety net for your loved ones in the event of your death. 

After signing a contract, you make regular payments to an insurance company. In exchange, the insurance company will pay a tax-free sum of money to your beneficiaries if you die while your policy is active.

What type of life insurance do you need?

The best type of life insurance for you depends on your age, your budget, and your insurance goals and needs.

Term life insurance

Term life insurance covers you for a set period of time — usually between 10 and 30 years. It’s the most affordable type of life insurance for most people because it only provides financial protection during the period of your life when you have the biggest expenses — like when your children are younger, or while you have a mortgage to pay off.

Whole life insurance

Whole life insurance is a type of permanent life insurance, which means it lasts your entire life. It comes with a cash value component in addition to the lump-sum payout. High-net-worth individuals and people with dependents who require long-term care can benefit from this cash value as an additional investment vehicle, or as a buffer against estate tax.

Universal life insurance

Universal life insurance (UL) is a type of permanent life insurance that lasts for your entire life, comes with a cash value component, and lets you adjust the cost of your premiums — and the amount of your death benefit — if and when your circumstances change. UL policies are usually more expensive than term life, but less expensive than whole life.

Final expense insurance

If you have trouble qualifying for traditional term or permanent life insurance due to your age or a serious health condition, a limited type of whole life insurance called final expense insurance could be a good option. Also known as burial insurance, it pays a small death benefit to your family to help cover end-of-life expenses, like a funeral or medical bills.

Many people purchase multiple types of life insurance, and some insurers now offer hybrid policies that bundle the benefits of term and permanent life insurance together. At Policygenius, our agents can help you understand the different policy types, compare quotes, and apply for the right coverage at a price that works for you.

How much life insurance should you buy?

A typical rule of thumb is that your life insurance plan should include coverage that’s roughly 10 to 15 times your annual income. For example, if you make $100,000 per year, you’ll likely need around $1 million to $1.5 million in life insurance coverage, but the exact amount of coverage you need will vary depending on your financial situation, including debts and assets.  

Our life insurance calculator can help you estimate how much money your family would need to replace the loss of your income and meet their future goals.

How much will your life insurance cost? 

In general, the younger and healthier you are, the cheaper your life insurance will be. A healthy 30-year-old who doesn’t smoke pays $26 per month on average for a 20-year term life policy with a $500,000 payout.

Learn more about life insurance rates 

What’s the best life insurance company?

The right life insurance company for you will depend on factors like your age, health, and financial needs. Our independent, unbiased ratings and reviews of the best life insurance companies will help you find a great life insurance policy with confidence.

Compare the 5 best life insurance companies of 2024

Explore our reviews of more than 30 life insurance companies