Life insurance calculator
Use our free life insurance calculator to get the right amount of coverage for you.
Life Insurance
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What is life insurance?
Life insurance is a financial product that lets you designate specific people for an insurance company to pay, in the unfortunate event of your own death. You pay what’s called a premium in exchange for peace of mind, knowing that your insurer will take care of your loved ones after you die.
What does life insurance cover?
Life insurance is intended to help your loved ones or business partners financially after you die.Your designees are the people you want to take care of with the insurance payout. This payout can be used to cover debts or everyday expenses, even funerals.
Sure, it’s not fun to think about, but life insurance helps you know that you’ve done your part to help the people you care about.
How much does life insurance cost?
Life insurance is usually cheaper when you’re younger, in your 20's or 30's. If you’re a smoker, have underlying health conditions, or are advanced in age, these factors can affect your life insurance rates. That said, anyone can buy a life insurance policy, no matter their age or health status!
Versured has a policy for everyone.
How do I shop for life insurance?
It makes the most sense to start early in life, because you’ll save a lot more money in the long run. When you shop with Versured, you can get up to $1 million in coverage with no medical exams in a quick, easy format, where you can compare multiple providers to each other.
Life insurance types
There are basically two types of life insurance: Term and Permanent.
- Term life insurance lasts for a specific amount of time, usually 10, 20, or 30 years.
- Permanent life insurance lasts your entire lifetime.
Other supplemental insurance to consider:
Mortgage protection
This type of coverage pays off your house if you still owe money on your mortgage, protecting your family still at home in the event of your death.
Cancer insurance
Cancer insurance can be added to your policy if you have a terminal illness, which protects your family from outstanding medical bills.
Accidental death & dismemberment
AD&D pays for hospital bills up front for any type of unusual accident that kills you or permanently injures you. It’s a form of quick cash if you survive and lose a limb or your speech, eyesight, or hearing.
How does the life insurance calculator work?
Our calculator is here to make your life easier. Here’s what you’ll need to get an accurate prediction of your coverage requirements and how much you’ll likely pay in premiums.
Personal Information: How it affects my policy
Gender: Women pay between 22% and 32% less than men for the same amount of coverage on average, based on policies offered by Versured in 2020.
Age: The younger you are, the lower your premiums, which is why it’s best to buy early if you’re able to.
ZIP Code: Where you live can determine what policies are available to you based on each state’s rules and regulations.
Policy Length: Your policy’s term length is how long your life insurance coverage lasts. Choose a term length that matches (or exceeds) your longest financial obligation (like your mortgage) so that your loved ones don’t end up liable for those costs.
Coverage Amount: How much life insurance do I need?
Versured agents suggest buying coverage of 10–15 times your income, if not more. Even if you’re temporarily unemployed, you should get enough coverage to account for your anticipated future income.
We work with only the best providers in the industry.
Why should I buy online with Versured?
Purchasing insurance online is just about as convenient as you can get. Gone are the days when the only time you could get insurance was between 9 AM and 5 PM. You save a lot of time when you let Versured bring you the best of both worlds—technology and insurance—into one great service: insurtech.
Insurtech combines convenience with the peace of mind that comes with having a licensed, experienced insurance agent review your needs. Versured's agents determine your liability exposure based on your individual case, because no two insurance customers are the same.
What does Versured offer their clients?
We provide standard and comprehensive policies that give you peace-of-mind. With the proper homeowners insurance policy, we can guarantee that damages to your home from a covered event will be fixed, and your belongings will be replaced.
We want to answer all of your questions and make sure that you stay educated on all things insurance. If you have any more questions, chat with us now.
At Versured, we are about the needs of our clients. We partner with the best firms to ensure that you are well taken care of. Getting you the right coverage is our highest priority.