How much does each amount cost?
From a $10,000 burial plan to a $2 million term policy. What each amount can pay for, and real sample prices from published rate tables.
$10k$10,000 life insuranceOlder adults who want to cover a funeral and a few final bills so their family does not pay. Often bought between 50 and 85 as final expense whole life.$25k$25,000 life insuranceSeniors who want to cover a full funeral plus bills, or leave a little extra. Also people with no one depending on their income who just want the basics covered.$50k$50,000 life insurancePeople who want more than funeral money: final costs plus paying off a car loan or a few months of bills. Also young buyers who want a small, cheap term policy.$100k$100,000 life insuranceSingle people with some debt, older adults who want more than a funeral, or a parent adding a small policy on top of work coverage.$250k$250,000 life insuranceYoung families with modest income, single parents with one child, or couples who want to cover a mid sized mortgage.$500k$500,000 life insuranceMost working parents with a mortgage. It can replace several years of income and pay off the house.$1M$1,000,000 life insuranceHigher earners, families with several kids, or people with a big mortgage. Also two income families who want to replace income for many years.$2M$2,000,000 life insuranceHigh earners, business owners, and families with large debts or many years of income to replace.
Questions about coverage amounts
How much life insurance do I need?
A common rule is 10 times your yearly pay, plus your mortgage and debts, minus what you already have.
How much does a $500,000 policy cost?
For a healthy 35 year old nonsmoker, published samples for 20 year term are often under $50 a month. Your price depends on your age and health.
Is $1 million of life insurance too much?
Not if you have a big mortgage, young kids or a high income. Term life makes large amounts affordable.
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About 3 in 4 people guess life insurance costs more than it does. LIMRA 2026