--- title: Life Insurance in Philadelphia, PA: Free Quotes and Local Facts url: https://coverfolk.com/states/pennsylvania/philadelphia updated: 2026-10-08 --- # Life insurance in Philadelphia, PA Get a free price from a Pennsylvania agent, and see what families in Philadelphia usually need. [Local facts](#local) Updated October 8, 2026[Fact checked](/editorial-standards) Philadelphia1,573,916 people The short answer Families in Philadelphia earn a median $60,521 a year, and the typical owned home is worth $253,600. A simple rule puts the need for a typical family here at about **$750,000**. Term life is usually the lowest cost way to get there. ## Philadelphia by the numbers Median household income : $60,521Lower than the Pennsylvania median of $77,545 Typical home value : $253,600Lower than the Pennsylvania median of $277,600 Homes owned : 52%57% of owned homes have a mortgage Households with kids : 23%702,646 households in all Age 65 and older : 15%Median age 35.7 Veterans : 45,1183.6% of adults ## Living in Philadelphia Philadelphia is the largest city in Pennsylvania, with 1,573,916 residents and a median age of 35.7. 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 $60,521, below the US median of $81,604. The typical home costs about 4.2 times that income. Compared with nearby Allentown (44 miles away), homes in Philadelphia are worth about the same ($253,600 vs $242,400), and fewer households have kids at home. The biggest hands on job group here is health care, at 13.2% of workers. Health care workers on shifts and contracts can lose group coverage between jobs. ## Who works in Philadelphia 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**13.2%[Nurses](/jobs/nurses)[EMTs and paramedics](/jobs/emts-paramedics)[Doctors](/jobs/doctors) **Sales**7.8%[Real estate agents](/jobs/real-estate-agents)[Self employed](/jobs/self-employed) **Driving and moving goods**7.6%[Truck drivers](/jobs/truck-drivers)[Rideshare and delivery](/jobs/rideshare-drivers)[Warehouse workers](/jobs/warehouse-workers) **Teaching**6.3%[Teachers](/jobs/teachers) ## What fits families in Philadelphia **Mortgage protection** 57% of owned homes in Philadelphia 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** 23% 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** 15% of people in Philadelphia are 65 or older, lower than the Pennsylvania rate. A small policy keeps funeral costs off the family. [More on final expense](/coverage/final-expense) **Veterans** About 45,118 veterans live in Philadelphia. VGLI is not your only choice. [More on veterans](/jobs/veterans) ## Final expense and burial insurance in Philadelphia About 242,200 people in Philadelphia 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 Pennsylvania](/funeral-costs/pennsylvania) ## Pennsylvania rules that protect you * Free look: 10 days to return a new policy for a refund * Grace period: 31 days if you miss a payment * Guaranty protection: up to $300,000 in death benefits * Help line: Pennsylvania Insurance Department, 1-877-881-6388 [All Pennsylvania rules](/states/pennsylvania) ## Common questions in Philadelphia How much life insurance do I need in Philadelphia? A quick rule of thumb: 10 years of income plus what you owe on your home. With Philadelphia's median household income of $60,521 and a typical home value of $253,600, that lands near $750,000 for a typical family. Your number depends on your debts, kids and savings. Our calculator does the math. Can I get life insurance in Philadelphia 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 Pennsylvania? Yes. An agent must hold a Pennsylvania license to sell you a policy. You can check a license with the Pennsylvania Insurance Department at 1-877-881-6388. Source: [Pennsylvania Insurance Department](https://www.pa.gov/agencies/insurance) What does a funeral cost near Philadelphia? 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 Philadelphia 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 Pennsylvania? The Pennsylvania Life & Health Insurance Guaranty Association protects Pennsylvania policyholders up to $300,000 in death benefits, per insured person. Source: [Pennsylvania Life & Health Insurance Guaranty Association](https://www.palifega.org/) · [NOLHGA: how you are protected](https://nolhga.com/policyholders/how-youre-protected/) ## Near Philadelphia [Allentown](/states/pennsylvania/allentown) (44 mi), [Pittsburgh](/states/pennsylvania/pittsburgh) (257 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. [Pennsylvania Insurance Department](https://www.pa.gov/agencies/insurance) 5. [Pennsylvania Life & Health Insurance Guaranty Association](https://www.palifega.org/) Local numbers are Census American Community Survey 2024 one year estimates for Philadelphia, PA. The coverage figure is a rule of thumb, not advice.