The Best Life Insurance Calculator

life insurance calculator

Key Takeaways:

  • The Ultimate Life Insurance Calculator is the best life insurance calculator because it shows you exactly what you need in a term life plan and how much it may cost.
  • Using Predictive Protection™, this is the only needs-based life insurance calculator in the industry — will even tell you if we think you don’t need to buy any life insurance!
  • It only takes two minutes to use, and you don’t have to provide any contact details to get your quote.
Table of Contents

Shopping for life insurance and comparing rates from different companies can be a frustrating, confusing, involved process, but it shouldn’t have to be. There is a tool out there that you can use to find out what kind of life insurance you need and get a quote.

The best part? Besides it being free, you won’t have to provide contact information to get your quote, so there’s no need to worry about your inbox and voicemail being bombarded by agents trying to get in touch with you to sell you a plan. 

Let’s take a closer look at the best life insurance calculator and discuss why it’s especially helpful for the average consumer — that is, someone who doesn’t know that much about life insurance but wants to make sure they are getting the best deal for their family.

What Is the Best Life Insurance Calculator and How Doest It Work?

It’s called The Ultimate Life Insurance Calculator, and it works differently than other quick quote tools you may have come across online. 

Most life insurance calculators assume you know what you are shopping for and that you have a fixed budget in mind for a plan. While that may be true for a few people, most people shopping online for life insurance are overwhelmed by the choices available — term life, whole life, combination life? what even are those? — and aren’t sure how much they should be paying for coverage or what the right amount of coverage is. 

The Ultimate Life Insurance Calculator takes the guesswork out of the process. By answering a few simple questions, you’ll get a professional recommendation on what you actually do need in a life insurance plan based on real-life events and what it might cost. The resulting recommended plan will likely be more affordable, but it will also be the right solution for your needs. Most customers who use The Ultimate Life Insurance Calculator end up with a life insurance plan that costs less than 1% of their income!

Another unique aspect of our tool is that it’s objective. If we think you’re all set and you don’t need to buy more life insurance, we’ll tell you so! It’s not often that an insurance company will steer you away from their product, but the goal of Everyday Life is to give you only the coverage you need, when you need it. We take a consumer-centric approach to term life that you won’t find in other companies.

The life insurance calculator is super simple and easy to use. It’s completely free, and everything happens entirely online, so you can use The Ultimate Life Insurance Calculator from the comfort of your own home (or on the go).

Here’s how it works: you answer a few questions about yourself, your household and your financial situation. It only takes about two minutes to answer the questions, and you do not have to provide any contact information. Based on the information you entered, you get a personalized recommendation for a life insurance policy that fits your life. 

What Will the Quote Be Like Compared to Other Quotes?

The Ultimate Life Insurance Calculator is unique among life insurance calculators, and so is the resulting quote and recommendation for coverage that it gives you. At Everyday Life, we use Predictive Protection™. This technology powers the tool to build custom life insurance policies that automatically adjust coverage during the course of your plan based on major life changes. That way, you only pay for what you need, when you need it. It’s the only product like it in the life insurance industry — we are the first to offer these types of dynamic term life plans, but they just make more logical and financial sense. 

For example, suppose a young couple has one toddler and another baby on the way. Both parents are in great physical and financial shape — they exercise regularly and have no credit card debt. They just bought their first home. 

A typical term life policy might recommend that they purchase $400,000 worth of coverage, which will stay the same over the life of a 30-year plan. That way, if anything happens to either of them during their policy term, the insurance company would pay out $400,000. It should be enough to cover medical debt, funeral expenses, mortgage debt and the cost of child-rearing.

It sounds good on the surface, but what that plan does not take into account is that couple won’t need $400,000 worth of coverage in 15 years. They will have paid off much of their mortgage, and their kids will be older and closer to moving out. They are paying a monthly premium based on a coverage amount that is actually higher than what they really need.

If that young couple uses The Ultimate Life Insurance Calculator, they would get a quote for a three-step Predictive Protection™ plan. It would likely start with $400,000 of coverage but would decrease to $300,000 after year 10 and decrease to $200,000 after year 20. And their premiums would decrease, too, saving them thousands of dollars over the life of the policy.

That’s the magic of Predictive Protection™ — the coverage automatically adjusts. They’ll have the peace of mind knowing they’re covered without the annoyance of paying for extra coverage that they don’t really need at any given point in time. 

Our process keeps you in control, and our life insurance calculator reflects everyday life with all its changes. Try out The Ultimate Life insurance Calculator today to find out how much you could save with Everyday Life!

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