Life Insurance Calculators & Tools

The DIME method is a reliable starting point: add up your Debts, multiply your Income by the years your family needs support, add your Mortgage balance, and add Education costs. Subtract any existing coverage. Our Life Insurance Needs Calculator automates this calculation.

Term life is almost always the better financial choice for pure protection — it costs 80–90% less than whole life for the same death benefit. Whole life builds cash value and lasts a lifetime, making it useful for estate planning or as a last-resort savings vehicle. Use our Term vs Whole Life Calculator to compare costs side by side.

The younger and healthier you are when you buy, the lower your premiums. Rates increase significantly each year, especially after 40. Buying in your 20s or 30s can lock in rates that are 60–80% lower than buying in your 50s. Use our Coverage by Age Calculator to see age-based recommendations.

Generally no — life insurance death benefits are income-tax free to beneficiaries. Cash value growth is tax-deferred, and policy loans are tax-free. Estate taxes may apply for very large estates. See our Life Insurance Tax Benefits Calculator for details on your situation.

Yes, but smokers typically pay 2–3× more than non-smokers for the same coverage. Most insurers reclassify you as a non-smoker after 12–24 months of quitting and verified testing. Use our Smoker Life Insurance Calculator to see the cost difference and potential savings from quitting.