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How Much Does
Life Insurance Cost?
Most people overestimate the cost of life insurance by 300% or more. The cost varies based on your unique situation. The biggest factors that can affect your premium include your coverage amount, term length, age, health status, and tobacco use. The sooner you buy, the sooner you’ll lock in your lowest premium—and save the most money in the long run.
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What’s the difference between Term and Whole
Life Insurance?
Term life insurance uses premiums to cover you for the determined “term” of the policy. Term life can be a good match for someone seeking affordable coverage to replace lost income over a critical period, such as while raising children or paying off a mortgage.
Whole life insurance lasts your entire life if premiums remain current. Whole life policies also have the potential to accrue cash value, depending on the policy.
Term Life 101 - PDF
Whole Life 101 - PDF
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What if I already have
Life Insurance through
my employer?
Employer-sponsored policies typically offer coverage that is about 1-2X your annual salary, which is a fraction of what most families need. And if you leave your job, that coverage usually ends. A common rule of thumb is to have 10X your salary in life insurance protection, which is why many people buy individual term policies to supplement their coverage through work.
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Does Future Assurance & Ethos offer a 30-day free look period?
YES. Our application is non-binding, 100% free, and it won't affect your credit score. Additionally, each policy has a 30-day free look period. If you cancel the policy within the first 30 days, you will receive a full refund of premium paid. After 30 days, you may cancel your policy at any time without cancellation fees.
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How much Life
Insurance do I need?
A common and easy way to come up with a coverage estimate is to multiply your annual income by 10. Another way is to calculate your long-term financial obligations and then subtract your assets. The remainder is the gap that life insurance needs to fill.
Life Insurance 101 - PDF
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What does
Life Insurance cover?
Your life insurance can help cover some of life's biggest expenses if you pass away while the policy is in force. For instance, policy proceeds are often used for mortgage payments, debts, tuition, and everyday expenses. Ultimately, it's up to your beneficiaries to decide how to use the payout. Proceeds are paid in a lump sum and are generally tax-free.