Everything you need to know about insurance basics, like coverage types, limits, cost and more.
How Much is Life Insurance? Calculate Your Life Insurance Needs & Cost
American Family Life Insurance Company offers a variety of life insurance products to help financially protect the people you love, and you might be surprised at how affordable it can be. When it comes to life insurance, many people's first question is "how much life insurance?" The cost of life insurance is often overestimated, but we make it simple to get an idea of how much you might pay for coverage with our Life Insurance Calculator.
When you purchase life insurance, you’re not buying it for just yourself — it’s a proactive way to help financially protect the people you care most about if you were to pass away. So it’s important to understand what exactly goes into calculating how much coverage you need.
How to Calculate Your Life Insurance Needs
When calculating how much life insurance coverage you need, the outcome is unique to each person and family. Take a look at the key things to consider when determining your life insurance needs:
Add up your personal assets
Calculate your bank accounts, investments, real estate, retirement accounts, CDs, existing life insurance and any other assets you own that may be liquidated at the time of death to help cover expenses.
Now that you know the general guidelines for calculating your life insurance needs, start the life calculator to discover how much coverage you need and compare price quotes* for our different levels of coverage.
Get More Help With Life Insurance
Request a Personalized Life Insurance Quote
Our agents will help you find the right life insurance policy for your situation.
*Subject to product specifications. Some products and coverage amounts cannot be quoted online and will require agent assistance.
**This estimate assumes a Super Select rating tier. The exact premium can only be determined after an underwriting review and may be different from this estimate, or the policy may not be available. A medical exam may be required before a policy can be issued. Please contact an American Family agent for further details.