Discover how Ethos can help get you up to a 500k term life insurance policy at an affordable rate. This chart shows average costs for a 10- to 30-year term, $500,000 life policy premiums for healthy, non-smoking 35-year-old males and females.
Help secure your family's financial future with life insurance that can help cover expenses such as burial costs, outstanding debt, mortgage payments, tuition, and other day-to-day expenditures. Providing for your family can start today with an instant online life insurance quote. By just answering a few health questions, you can secure online life insurance with no medical exam. It’s the easiest and fastest method to protect loved ones.
A $500K life insurance policy can help protect your family if the unexpected happens. But is it enough? Experts recommend you carry at least ten times your annual salary. Another useful way to determine your coverage calculations is the DIME formula (debt + income + mortgage + education). Add these four factors together to give you a better idea of your coverage needs.
- Debt: The total of any outstanding debt, such as student loans or credit cards bills
- Income: Multiply your salary by the estimated number of years your family would need support ($50k salary x 10 years = $500k)
- Mortgage: Mortgage balances or housing expenses
- Education: Estimate the costs to pay for your children's tuition
How can I qualify for a $500,000 life insurance policy?
- Age: Life insurance coverage costs more the older you get. The younger you are, the higher amount of coverage you'll qualify for.
- Health: The better your health status, the better your chance of being approved for a higher policy.
- Income: Many applicants can qualify for coverage up to 30 times their annual salary. Depending on how much you make and your financial situation, you may want to consider increasing your coverage.