--- title: Life Insurance in Elizabeth, NJ: Free Quotes and Local Facts url: https://coverfolk.com/states/new-jersey/elizabeth updated: 2026-10-08 --- # Life insurance in Elizabeth, NJ Get a free price from a New Jersey agent, and see what families in Elizabeth usually need. [Local facts](#local) Updated October 8, 2026[Fact checked](/editorial-standards) Elizabeth140,401 people The short answer Families in Elizabeth earn a median $62,114 a year, and the typical owned home is worth $518,100. A simple rule puts the need for a typical family here at about **$1,000,000**. Term life is usually the lowest cost way to get there. ## Elizabeth by the numbers Median household income : $62,114Lower than the New Jersey median of $104,294 Typical home value : $518,100Close to the New Jersey median of $496,000 Homes owned : 27%68% of owned homes have a mortgage Households with kids : 39%45,767 households in all Age 65 and older : 13%Median age 35.2 Veterans : 1,1211.1% of adults ## Living in Elizabeth Elizabeth is the 4th largest city in New Jersey, with 140,401 residents and a median age of 35.2. That is younger than the state as a whole, so more families here are in the years when term life matters most. The median household here earns $62,114, below the US median of $81,604. The typical home costs about 8.3 times that income, a heavy load for one paycheck to carry alone. Compared with nearby Newark (4 miles away), homes in Elizabeth are worth more ($518,100 vs $396,600), and more households have kids at home. The biggest hands on job group here is driving and moving goods, at 21.4% of workers. Drivers who switch carriers often lose their work coverage, so a policy they own matters. ## Who works in Elizabeth 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. **Driving and moving goods**21.4%[Truck drivers](/jobs/truck-drivers)[Rideshare and delivery](/jobs/rideshare-drivers)[Warehouse workers](/jobs/warehouse-workers) **Construction**11.8%[Construction](/jobs/construction-workers)[Roofers](/jobs/roofers)[Electricians](/jobs/electricians) **Sales**9.2%[Real estate agents](/jobs/real-estate-agents)[Self employed](/jobs/self-employed) **Factory and production**8.2%[Factory workers](/jobs/factory-workers)[Welders](/jobs/welders) ## What fits families in Elizabeth **Mortgage protection** 68% of owned homes in Elizabeth 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** 39% 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** 13% of people in Elizabeth are 65 or older, lower than the New Jersey rate. A small policy keeps funeral costs off the family. [More on final expense](/coverage/final-expense) **Veterans** About 1,121 veterans live in Elizabeth. VGLI is not your only choice. [More on veterans](/jobs/veterans) ## Final expense and burial insurance in Elizabeth About 18,700 people in Elizabeth 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 New Jersey](/funeral-costs/new-jersey) ## New Jersey 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 $500,000 in death benefits * Help line: New Jersey Department of Banking and Insurance, 1-800-446-7467 [All New Jersey rules](/states/new-jersey) ## Common questions in Elizabeth How much life insurance do I need in Elizabeth? A quick rule of thumb: 10 years of income plus what you owe on your home. With Elizabeth's median household income of $62,114 and a typical home value of $518,100, that lands near $1,000,000 for a typical family. Your number depends on your debts, kids and savings. Our calculator does the math. Can I get life insurance in Elizabeth 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 New Jersey? Yes. An agent must hold a New Jersey license to sell you a policy. You can check a license with the New Jersey Department of Banking and Insurance at 1-800-446-7467. Source: [New Jersey Department of Banking and Insurance](https://www.nj.gov/dobi) What does a funeral cost near Elizabeth? 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 Elizabeth 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 New Jersey? The New Jersey Life & Health Insurance Guaranty Association protects New Jersey policyholders up to $500,000 in death benefits, per insured person. Source: [New Jersey Life & Health Insurance Guaranty Association](https://www.njlifega.org) · [NOLHGA: how you are protected](https://nolhga.com/policyholders/how-youre-protected/) ## Near Elizabeth [Newark](/states/new-jersey/newark) (4 mi), [Jersey City](/states/new-jersey/jersey-city) (7 mi), [Paterson](/states/new-jersey/paterson) (17 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. [New Jersey Department of Banking and Insurance](https://www.nj.gov/dobi) 5. [New Jersey Life & Health Insurance Guaranty Association](https://www.njlifega.org) Local numbers are Census American Community Survey 2024 one year estimates for Elizabeth, NJ. The coverage figure is a rule of thumb, not advice.