How much does a $500,000 life insurance policy cost?
Concerned about the cost of life insurance? With Surevix, you can find a policy that fits your budget. Discover if a $500,000 life insurance policy provides the protection your family needs in case the unexpected occurs.
Average costs of $500K online term life policies
See how Surevix can provide you with an affordable $500,000 term life insurance policy. This chart outlines the average premiums for healthy, non-smoking 35-year-old males and females with 10- to 30-year term policies.
Start protecting loved ones today with an instant quote
Secure your family’s financial future with life insurance that covers essential expenses like burial costs, debts, mortgage payments, tuition, and daily living costs. You can begin protecting your family right now with an instant online life insurance quote. By answering a few simple health questions, you can obtain coverage online without a medical exam. It’s the quickest and most convenient way to ensure your loved ones are taken care of.
Is a $500K policy enough?
Although everyone’s needs are different, there are general guidelines that can assist you in figuring out how much coverage is right for you.
A $500K life insurance policy can provide financial protection for your family in case of an unexpected event. But is that amount sufficient? Experts typically advise carrying coverage that’s at least ten times your annual salary. Another method for calculating your coverage needs is the DIME formula, which takes into account four key factors:
- Debt: The total amount of any outstanding debts, like credit card bills or student loans.
- Income: Multiply your annual salary by the number of years your family would need financial support (e.g., $50k salary x 10 years = $500k).
- Mortgage: Include your mortgage balance or housing expenses.
- Education: Estimate the costs for your children’s future tuition.
How can I qualify for a $500,000 life insurance policy?
- Age: The cost of life insurance increases with age. Generally, the younger you are, the more coverage you can qualify for.
- Health: The better your health, the higher your chances of being approved for a larger policy.
- Income: Many applicants can qualify for coverage up to 30 times their annual salary. Based on your income and financial situation, you might want to consider adjusting your coverage amount.
Why choose Surevix for my $500k policy?
Surevix offers a fast and simple process to apply for life insurance that fits both your budget and coverage requirements.
Instant online quotes for $500k policies
Fill out our online application in just a few minutes. It's simple, hassle-free, and doesn’t require paperwork or phone calls (but we’re always here to assist if you need help).
Affordable, personalized coverage
Surevix offers a range of coverage options designed to fit your budget and ensure you get the protection you need.
Honest advice, non-pushy agents
You don’t need to speak with an agent unless you prefer to. Our experts are available to help you find the coverage that best fits your family’s needs.
Easy, hassle-free cancellation
If you change your mind within the first 30 days after activating your coverage, we’ll refund your payment in full. Plus, with Surevix, you can cancel your policy at any time, with no additional fees.
Receive a free, personalized quote instantly
Get estimated prices for up to $500K in life insurance coverage tailored to your needs—instantly and without any obligation.