Estimate a term-life premium from your coverage and a quoted rate.
Uses the rate you enter — no rates are invented.
Understanding your result
Real rates depend on age, health, term and insurer. Enter the rate from an actual quote for an accurate figure.
Formula and method
Annual premium = (coverage ÷ 1,000) × rate. Monthly premium = annual ÷ 12.
Worked example
500,000 cover at a rate of 2.50 per 1,000 = an annual premium of 1,250 (about 104 per month).
How to use this tool
- Enter the coverage amount.
- Enter the rate per 1,000 per year from your quote.
- Press Calculate.
Common mistakes to avoid
- Confusing a monthly rate with an annual rate.
About the Term Life Premium Estimator
Estimate the premium for a term-life policy from your desired coverage and a quoted rate per 1,000 of cover.
Frequently asked questions
Where do I find the rate?
It comes from an insurer’s quote. This tool does not invent rates — it applies the one you provide.