Tool
Quote worksheet
This page does not provide quotes. It does arithmetic on quotes you already received: total paid over the term, cost per $1,000 of coverage per month, and how three policies compare side by side.
Read this before you type anything.
TrueLifeCost does not provide insurance quotes. This worksheet only does arithmetic on the numbers you enter yourself. Examples below are labelled hypothetical illustrations, not carrier prices.
Worked example (hypothetical illustration)
The numbers in this box are round and invented for teaching. They are not quotes and they are not averages.
| Hypothetical item | Value |
|---|---|
| Monthly premium (invented) | $40 |
| Term (invented) | 20 years |
| Coverage (invented) | $250,000 |
- Total paid over the term: $40 × 12 × 20 = $9,600
- Cost per $1,000 of coverage per month: $40 ÷ 250 = $0.16
- Break-even note: $9,600 is about 3.8% of the $250,000 death benefit. The question is not whether the policy "wins" financially. The question is whether the coverage period matches the years when someone depends on your income.
Your quotes, your numbers
Enter quotes you personally received from an insurer, an agent, or an employer plan. Leave a row blank if you only have one or two quotes.
| Policy | Monthly | Total paid over term | Cost per $1,000 / month | Total as % of coverage |
|---|---|---|---|---|
| Policy 1 | - | - | - | - |
| Policy 2 | - | - | - | - |
| Policy 3 | - | - | - | - |
What this worksheet cannot tell you
It cannot tell you whether an insurer will approve you, which health class you belong in, whether a policy includes exclusions you care about, or whether the premium stays level for the whole term. Read the declarations page and the policy itself. A licensed agent in your state can explain underwriting outcomes for your situation. This site never recommends a specific policy.
Assumptions printed, on purpose
- Total paid is the monthly premium you enter, multiplied by 12, multiplied by the term years you enter. Nothing else is added.
- Cost per $1,000 is that monthly premium divided by coverage in thousands. It compares size, not value.
- The worksheet assumes the premium stays level for the years you enter. If a quote is not guaranteed level, the total is a floor, not a forecast.
- No taxes, fees, surrender charges, rider charges beyond the premium you typed, or time value of money are modelled. Those live in the policy, not in this arithmetic.
- The worked example inside the tool uses round, invented numbers labelled as a hypothetical illustration. They are not quotes, averages, or carrier prices.
How we decide what can be published as a fact is on the methodology page.
How to use this worksheet well
- Collect quotes from insurers, an employer plan, or a licensed agent for the same coverage amount and term wherever possible. Mismatched inputs produce misleading comparisons.
- Enter the exact monthly premium from each quote, including any rider charges baked into that premium.
- Look at total paid over the term first. Monthly prices hide the cost of longer terms.
- Use cost per $1,000 to compare policies of different sizes on equal footing.
- Then check the fine print the numbers cannot show: health class, conversion deadline, graded benefits, exclusions, and whether premiums are guaranteed level.
Break-even thinking, without the sales pitch
People ask when a policy "breaks even." For term insurance the question is usually miscast: you are not investing, you are renting protection for the years someone depends on your income. Still, the totals matter. If a hypothetical illustration shows $40 per month for 20 years on a $250,000 policy, that is $9,600 paid for a $250,000 promise during the exact decades a mortgage and children need covering. Those are invented round numbers used to teach the arithmetic, not prices anyone quoted.
The more useful break-even question is about need: at what year do your obligations end? If the mortgage is gone in year 14 and the youngest child is independent in year 16, a 20-year term covers the risk with margin. A 30-year term charges you for years beyond the need. Match the term to the obligation using the term length guide, then let this worksheet sort out the dollars.
Final expense quotes belong here too
Final expense policies are permanent, so "term" in the worksheet becomes the number of years you realistically expect to pay. Enter the monthly premium, an honest payment horizon, and the face amount. The total paid column often changes the conversation about small policies bought at older ages, which is exactly why we built it. Read the waiting period guide before buying any policy whose early benefits are graded.
Privacy
The worksheet runs in your browser. Nothing you type is sent to us, stored, or shared. Close the tab and the numbers are gone.
Frequently asked questions
Does this worksheet give me a quote?
No. TrueLifeCost does not provide quotes and does not sell insurance. The worksheet only does arithmetic on quotes you received from an insurer, an employer plan, or a licensed agent.
Why compare total paid instead of the monthly premium?
Monthly figures hide the cost of longer terms. Total paid over the term and cost per $1,000 of coverage put policies of different lengths and sizes on equal footing. Match the term to the obligation first using the term length guide.
Can I use it for a final expense quote?
Yes. Enter the monthly premium, the face amount, and an honest number of payment years as the term. Read the waiting period guide first, because early-years benefits on these policies are often graded.
What can the worksheet not tell me?
It cannot tell you whether an insurer will approve you, which health class you belong in, whether premiums stay level, or what exclusions apply. Those answers are in the policy and the declarations page. A licensed agent in your state can explain underwriting for your situation.