Coverage Amounts Compared
How Much Life Insurance Do You Need? $250K, $500K, or $1M
Real, verified monthly rates for the three most common coverage amounts, so you can see what a policy actually costs before you compare.
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Monthly Cost by Coverage Amount
20-year level term, best health rating (Preferred Plus), non-smoker. Figures verified from the same quote engine we use to price real clients.
| Age / Sex | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|
| 30, Male | $12.48/month | $18.38/month | $28.88/month |
| 30, Female | $10.77/month | $15.76/month | $22.76/month |
| 40, Male | $16.63/month | $26.70/month | $46.38/month |
| 40, Female | $15.05/month | $24.07/month | $39.90/month |
| 50, Male | $38.73/month | $70.01/month | $129.51/month |
| 50, Female | $30.30/month | $55.13/month | $97.13/month |
Rates vary by health, state, and term length. Get your exact rate free.
What Each Coverage Amount Protects
🏡
$250,000
Covers final expenses, pays off most debts, and replaces 2-3 years of income. A smart baseline for young families and first-time homeowners.
🛡️
$500,000
The most common choice. Replaces 10 years of income for the average household and covers the mortgage plus education costs.
🏆
$1,000,000
Full income replacement for higher earners, plus college for kids, a paid-off mortgage, and a real financial cushion for your family.
How to Pick Your Number
- 1. Multiply your income by 10-12. That covers the years your family depends on your paycheck, including college and the transition period after a loss.
- 2. Add your debts.Mortgage, car loans, credit cards. Life insurance is what pays these off when you can't.
- 3. Add final expenses. Funerals average $8,000-$12,000 in the US. Add a cushion.
- 4. Subtract what you already have. Existing coverage, savings, and investments reduce the gap.
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Open the CalculatorCoverage Amounts: FAQs
Is $250,000 of life insurance enough?
For many young families it is a solid start. It covers final expenses, pays off most debts, and replaces a few years of income. If you have a mortgage or kids, most advisors recommend $500K or more.
How much is $1 million of term life insurance per month?
A healthy 30-year-old pays around $23-$29/month for $1M of 20-year term coverage at the best health rating, depending on sex. At 40 it runs roughly $40-$46/month, and at 50 about $97-$130/month.
Does more coverage cost proportionally more?
No. $1M of coverage costs roughly 1.6-1.8x the price of $500K, not 2x, because carriers price in fixed underwriting costs. Larger policies are often better value per dollar of coverage.
What is the rule of thumb for life insurance coverage?
10-12x your annual income, plus debts and final expenses, minus existing savings. A 30-year-old earning $60,000 would target $600,000-$720,000 before subtracting what they already have.
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