Term Life Premium Calculator

Estimate term life insurance premiums based on your age, health class, gender, and desired coverage amount.

Financial Disclaimer

This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs provided. Consult a qualified financial advisor before making investment or financial planning decisions.

Inputs

Current Age

Coverage Amount

Term Length

years

Gender

Health Class

Tab to move between fields

Results

Monthly Premium

$9.88

≈ 2 cups of coffee

Annual Premium$118.59

Total Cost Over Term$2,371.87

Cost per $1,000 Coverage$0.24

How to Use This Calculator

Enter your current age.
Set the desired coverage amount in dollars.
Select the term length (10, 20, or 30 years).
Indicate your general health status.
Review the estimated monthly and annual premium — use this to compare quotes from multiple carriers.

How the result changes with Current Age

Current Age	Monthly Premium
24	$2.47
40	$19.24
58	$83.93
74	$182.16

What each input means

Current Age: Your current age. Premiums increase significantly with age.
Coverage Amount: The death benefit amount for the policy.
Term Length: Policy duration in years. Common terms are 10, 15, 20, or 30 years.
Gender: 0 = Male, 1 = Female. Women typically pay lower premiums.
Health Class: 0 = Preferred Plus, 1 = Preferred, 2 = Standard, 3 = Substandard.

How this is calculated

Worked example, using the default values

Identify Input Parameters
4 parameters
Current Age = 35, Coverage Amount = 500000, Term Length = 20, Gender = 0 = 5 input(s) provided
Calculate Monthly Premium
Monthly Premium
9.88 = $9.88
Calculate Annual Premium
118.59 = $118.59
Calculate Total Cost Over Term
Total Cost Over Term
2371.87 = $2,371.87