Term Life Insurance Calculators – Premium Calculations


Term Life Insurance Calculator

To help you get a better understanding of possible premium amounts we have simple to use Cost of Term Life Insurance Calculator.  Instant Term Life Insurance Quotes can be generated in seconds. But, you probably want to know what amount of Term Life Insurance you will need before you run a quote. With this in mind we’ve added a few extra tools below.  You can figure out your Term Life Insurance needs by first using the Income Needs Calculator (simple and more advanced options).  This should give you a good idea as to how much insurance you will need to purchase.

Use our free Term Life Insurance Calculators tools below:

  • Income Needs Calculator (advanced) – List all your liabilities and see a more detailed needs analysis
  • Term Life Insurance Premium Calculators – Now that you know what you need you can get a quote

Income Needs Calculator (advanced)

Quick Quote Calculator

types of life insurance policies

What Type of Insurance Coverage Should I get?

The Term Life Insurance Calculators above do a great job of estimating coverage.  But, before you use the term life insurance premium calculator you want to read up on the different types of life insurance policies. There are basically four types of life insurance:

  • Term life insurance
  • Whole life insurance
  • Universal life insurance
  • Variable life insurance

There are several others but these are main ones we seen on daily basis.

Term life insurance is good for a limited period based on what is stated in the contract. If the policyholder dies before the term expires, the beneficiaries will receive the value of the policy. This is the cheapest form of life insurance.

Meanwhile, whole life insurance offers coverage for the whole life of the insured. It continues until the death of the insured, no matter how long that may be.

The remaining two offer life insurance with an investment option. This allows the policyholder to increase the cash value by investing premiums in approved financial vehicles. The Term Life Insurance Calculators only give you an estimate of the coverage you will need.  Consult with an expert to see what amount is right for you.

What to Consider When Buying Life Insurance

Prices of life insurance vary.  No Medical Exam Life Insurance quotes usually come in with higher premiums.  If you smoke or have health issues you may fall in to the High Risk Life Insurance category. If you fall in to these categories please call or email us for term life insurance quotes.

How much insurance you should buy is determined by the amount of savings, income, other assets, and any pension plan you may have. Life insurance policies with an investment option can be costly, so be sure to weigh it against your risk tolerance. Also, your premiums will be affected by your age, marital status and in many cases your health. Generally, the higher the death benefit, the more complicated the underwriting process can become.

How Much Life Insurance Coverage Should I Buy?

How much life insurance coverage you need is based on many factors. The Term Life Insurance Calculators can help give you an idea.  You will want to obtain enough life insurance coverage that will give your family the financial resources it needs to continue with their daily lives if they suddenly no longer have your income to support them. For a typical family of four, a $250,000 life insurance policy may be sufficient. The cost of life insurance is also based on your overall health. The older you get, the more you will become prone to illnesses. The key to getting cheaper life insurance is to obtain a policy as early as possible. Run the Term Life Insurance Calculator several times with different amounts of coverage to help you determine how much the premium will be. When you’re ready, we’ll provide you with the cheapest life insurance quotes that meet your needs and budget.

Term Life Insurance Speights Risk ManagementOur family business was established over 40 years ago to help protect families & businesses by providing sound Risk Management strategies. Feel free to call us at 1-401-884-4600, contact us via email or click the Send Voicemail link at the top of the page.

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