Families in Plano earn a median $115,901 a year, and the typical owned home is worth $541,700. A simple rule puts the need for a typical family here at about $1,500,000. Term life is usually the lowest cost way to get there.
Plano by the numbers
- Median household income
- $115,901Higher than the Texas median of $79,721
- Typical home value
- $541,700Higher than the Texas median of $313,200
- Homes owned
- 57%56% of owned homes have a mortgage
- Households with kids
- 31%115,376 households in all
- Age 65 and older
- 17%Median age 40.5
- Veterans
- 9,3104.1% of adults
Living in Plano
Plano is the 9th largest city in Texas, with 292,615 residents and a median age of 40.5. 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 $115,901, above the US median of $81,604. The typical home costs about 4.7 times that income.
Compared with nearby Richardson (6 miles away), homes in Plano are worth more ($541,700 vs $460,500), and more households have kids at home.
The biggest hands on job group here is sales, at 9.5% of workers. Work coverage usually ends when you leave the job, so a policy you own stays put.
Who works in Plano
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.
What fits families in Plano
56% of owned homes in Plano 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
31% of households here have kids under 18. Term life covers the years they depend on you for the lowest price. More on term life
17% of people in Plano are 65 or older, higher than the Texas rate. A small policy keeps funeral costs off the family. More on final expense
About 9,310 veterans live in Plano. VGLI is not your only choice. More on veterans
Final expense and burial insurance in Plano
About 49,500 people in Plano 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 Texas
Texas rules that protect you
- Free look: set by policy
- Grace period: one month if you miss a payment
- Guaranty protection: up to $300,000 in death benefits
- Help line: Texas Department of Insurance, 800-252-3439
Common questions in Plano
How much life insurance do I need in Plano?
A quick rule of thumb: 10 years of income plus what you owe on your home. With Plano's median household income of $115,901 and a typical home value of $541,700, that lands near $1,500,000 for a typical family. Your number depends on your debts, kids and savings. Our calculator does the math.
Can I get life insurance in Plano 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 Texas?
Yes. An agent must hold a Texas license to sell you a policy. You can check a license with the Texas Department of Insurance at 800-252-3439.
Source: Texas Department of Insurance
What does a funeral cost near Plano?
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 Plano must give you an itemized price list.
Source: FTC Funeral Rule · NFDA price study
What happens if my insurance company fails in Texas?
The Texas Life & Health Insurance Guaranty Association protects Texas policyholders up to $300,000 in death benefits, per insured person.
Source: Texas Life & Health Insurance Guaranty Association · NOLHGA: how you are protected
Near Plano
Richardson (6 mi), Allen (6 mi), Frisco (8 mi), Carrollton (10 mi), McKinney (11 mi), Garland (12 mi)
Sources
Local numbers are Census American Community Survey 2024 one year estimates for Plano, TX. The coverage figure is a rule of thumb, not advice.
