Life insurance cost calculator
Compares quotes you already have. It will not invent a premium.
Two life quotes for different amounts and terms can't be compared on the monthly figure. A larger policy costs more because it's more coverage, not because it's worse value.
This converts both to the same unit — cost per $1,000 of coverage per year — so you can see which is actually priced better.
Cost per $1,000 of cover
- Better value per dollar of cover
- Quote A
- Quote A
- $0.91 per $1,000/yr
- Quote B
- $0.98 per $1,000/yr
- Different terms?
- Yes — read carefully
Quote A costs less per $1,000 of coverage per year. Note this says nothing about which amount or term you actually need.
$500,000 for 20 years · $38/mo · $9,120 over the term
$750,000 for 30 years · $61/mo · $21,960 over the term
20 vs 30 years. A longer term costs more for a reason — it's more coverage, not a worse deal.
This normalises quotes you already have. It does not estimate premiums — enter real quoted figures. Cheaper per $1,000 is only better if the health class, riders, and conversion terms also match.
Why we don't estimate premiums here
Because we'd be making the number up. Life insurance pricing depends on your age, health class, and an insurer's underwriting. A calculator that produces a premium from three inputs is generating a plausible figure, not a price.
Enter real quoted numbers and this tells you something true.
Cheaper per $1,000 isn't automatically better
The comparison only holds if the rest matches.
- Same assumed health class, and whether it's assumed or confirmed
- Same riders included
- Same conversion privilege and deadline
- Same underwriting type
Watch the term difference
A 30-year policy priced above a 20-year one is not a worse deal — it's ten more years of coverage. The tool flags when your two quotes have different terms.
Turn this into a real number
A calculator works with the figures you give it. A licensed insurance professional can tell you what’s actually available to you and what it would cost.
This tool performs arithmetic on the figures you enter. It does not estimate premiums, predict approval, or account for your state’s rules. Quote My Policy LLC is a licensed insurance producer.