--- title: Life Insurance in Springfield, IL: Free Quotes and Local Facts url: https://coverfolk.com/states/illinois/springfield updated: 2026-10-08 --- # Life insurance in Springfield, IL Get a free price from a Illinois agent, and see what families in Springfield usually need. [Local facts](#local) Updated October 8, 2026[Fact checked](/editorial-standards) Springfield112,170 people The short answer Families in Springfield earn a median $72,889 a year, and the typical owned home is worth $189,800. A simple rule puts the need for a typical family here at about **$900,000**. Term life is usually the lowest cost way to get there. ## Springfield by the numbers Median household income : $72,889Lower than the Illinois median of $83,211 Typical home value : $189,800Lower than the Illinois median of $280,700 Homes owned : 62%64% of owned homes have a mortgage Households with kids : 20%51,519 households in all Age 65 and older : 22%Median age 42.1 Veterans : 5,4606.1% of adults ## Living in Springfield Springfield is the 8th largest city in Illinois, with 112,170 residents and a median age of 42.1. That is older than the state as a whole, which is one reason final expense comes up a lot here. The median household here earns $72,889, below the US median of $81,604. The typical home costs about 2.6 times that income. Compared with nearby Peoria (66 miles away), homes in Springfield are worth more ($189,800 vs $177,900), and fewer households have kids at home. The biggest hands on job group here is health care, at 11.8% of workers. Health care workers on shifts and contracts can lose group coverage between jobs. ## Who works in Springfield The biggest groups of hands on and front line jobs here, as a share of all workers. Some of these jobs can change your price, and some companies treat them better than others. **Health care**11.8%[Nurses](/jobs/nurses)[EMTs and paramedics](/jobs/emts-paramedics)[Doctors](/jobs/doctors) **Sales**6.9%[Real estate agents](/jobs/real-estate-agents)[Self employed](/jobs/self-employed) **Teaching**6.1%[Teachers](/jobs/teachers) **Driving and moving goods**4%[Truck drivers](/jobs/truck-drivers)[Rideshare and delivery](/jobs/rideshare-drivers)[Warehouse workers](/jobs/warehouse-workers) ## What fits families in Springfield **Mortgage protection** 64% of owned homes in Springfield still have a mortgage. If your family would struggle to make that payment without you, size a policy to the loan. [More on mortgage protection](/coverage/mortgage-protection) **Term life for parents** 20% of households here have kids under 18. Term life covers the years they depend on you for the lowest price. [More on term life](/coverage/term-life) **Final expense** 22% of people in Springfield are 65 or older, higher than the Illinois rate. A small policy keeps funeral costs off the family. [More on final expense](/coverage/final-expense) **Veterans** About 5,460 veterans live in Springfield. VGLI is not your only choice. [More on veterans](/jobs/veterans) ## Final expense and burial insurance in Springfield About 24,200 people in Springfield are 65 or older. A small final expense policy, also called burial insurance, pays for the funeral so the family does not have to. | Age | Women, $10,000 | Men, $10,000 | | --- | --- | --- | | **60** | $33 | $43 | | **70** | $53 | $70 | | **80** | $98 | $134 | National sample rates, Choice Mutual, Rates valid as of March 9, 2026. Not a quote. [Funeral costs and help in Illinois](/funeral-costs/illinois) ## Illinois rules that protect you * Free look: 10 days to return a new policy for a refund * Grace period: 30 days if you miss a payment * Guaranty protection: up to $300,000 in death benefits * Help line: Illinois Department of Insurance, 866-445-5364 [All Illinois rules](/states/illinois) ## Common questions in Springfield How much life insurance do I need in Springfield? A quick rule of thumb: 10 years of income plus what you owe on your home. With Springfield's median household income of $72,889 and a typical home value of $189,800, that lands near $900,000 for a typical family. Your number depends on your debts, kids and savings. Our calculator does the math. Can I get life insurance in Springfield without a medical exam? Often, yes. Many companies approve healthy people with health questions and records instead of an exam. Older buyers can also look at simplified issue or guaranteed issue final expense plans. Do I need an agent licensed in Illinois? Yes. An agent must hold a Illinois license to sell you a policy. You can check a license with the Illinois Department of Insurance at 866-445-5364. Source: [Illinois Department of Insurance](https://idoi.illinois.gov) What does a funeral cost near Springfield? Local prices vary by funeral home. Nationally, the median funeral with viewing and burial was $8,300 in 2023, and $6,280 with cremation (NFDA). Under the FTC Funeral Rule, any funeral home in Springfield must give you an itemized price list. Source: [FTC Funeral Rule](https://consumer.ftc.gov/articles/ftc-funeral-rule) · [NFDA price study](https://content.nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral) What happens if my insurance company fails in Illinois? The Illinois Life and Health Insurance Guaranty Association protects Illinois policyholders up to $300,000 in death benefits, per insured person. Source: [Illinois Life and Health Insurance Guaranty Association](https://www.ilhiga.org/) · [NOLHGA: how you are protected](https://nolhga.com/policyholders/how-youre-protected/) ## Near Springfield [Peoria](/states/illinois/peoria) (66 mi), [Joliet](/states/illinois/joliet) (143 mi), [Aurora](/states/illinois/aurora) (154 mi), [Naperville](/states/illinois/naperville) (156 mi), [Elgin](/states/illinois/elgin) (170 mi), [Rockford](/states/illinois/rockford) (173 mi) ## Sources 1. [Census ACS 2024 1 year estimates, table based summary file](https://www2.census.gov/programs-surveys/acs/summary_file/2024/table-based-SF/) 2. [Census 2024 Gazetteer place file](https://www.census.gov/geographies/reference-files/time-series/geo/gazetteer-files.html) 3. [2023 NFDA General Price List Study Shows Inflation Increasing Faster than the Cost of a Funeral (NFDA)](https://content.nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral) 4. [Illinois Department of Insurance](https://idoi.illinois.gov) 5. [Illinois Life and Health Insurance Guaranty Association](https://www.ilhiga.org/) Local numbers are Census American Community Survey 2024 one year estimates for Springfield, IL. The coverage figure is a rule of thumb, not advice.