Coverage Amounts

Compare verified monthly rates for $250,000, $500,000, and $1,000,000 of term life insurance, and see what each amount actually protects.

Monthly Cost by Coverage Amount

20-year level term, best health rating, non-smoker. These figures come straight from the carrier rate engine we use to quote 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

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$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.

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$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 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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Coverage 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.