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Insurdinary helps you compare life insurance quotes to find the best life insurance options for you and your family. Whether you want term life insurance or permanent life insurance, we can help.
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Insurdinary Wants to Increase Life Insurance Options for All

While life insurance is often one of the more affordable types of insurance, as many as 60% of people cite cost as a barrier to getting a life insurance policy. With so many people living paycheck to paycheck, life insurance seems an extravagant splurge for many.

The need gap between men and women also reflects the wage gap between sexes, with 44% of women recognizing that they need additional life insurance coverage, but only 46% of women having life insurance compared to 53% of men.

When comparing statistics between 92 countries, the U.S. ranks 18th for life insurance volume using data from 1996-2020.

While over 50% of people overestimate the cost of life insurance by more than triple the actual cost, finding affordable life insurance is still a struggle for many people, not only the United States, but across the globe.
Insurdinary aims to improve the accessibility of affordable life insurance and provide you with:
  • Protection against the loss of income for their families
  • Benefits to cover end-of-life costs like funeral and burial expenses
  • Inheritance protection against estate and death taxes
  • Coverage for operational costs of a business you own
  • Investment cash value in a permanent life insurance policy
Up to 106 million American adults don’t have life insurance coverage or feel that their coverage is inadequate. In Canada, 52% of folks still don’t have a policy to protect their loved ones. Insurdinary lets you compare coverage limits and premiums to make life insurance accessible.

3 Easy Steps to a Life Insurance Plan

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1. Find Plans

Explore life insurance providers and what to look for in a life insurance policy. What factors will influence your premiums, and what kind of life insurance coverage do you need for your family?
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2. Compare Plans

Input your data and get several life insurance quotes through our automated systems. At Insurdinary, we want to ensure you know your life insurance options for coverage, price, and beneficiary payouts.
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3. Receive Quote and Apply

We make it easy to receive life insurance quotes from providers across the U.S. When you’re ready to choose your life insurance policy, apply directly from our system in minutes.
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How Life InsuranceWorks

Life insurance provides your named beneficiaries with a lump sum death benefit when you pass away. You have two options for life insurance: term life or permanent life insurance.

Term life insurance policies offer coverage for the term of the policy, and different providers offer different terms. Usually, you can purchase 10-, 20-, and 30-year terms, although some providers also offer plans in multiples of five years. Term life insurance will pay out to your beneficiaries if you pass away during the coverage period. When the term ends, the policy expires and you are no longer covered.

Permanent life insurance is valid for as long as you pay your premiums and will accrue cash value, which some policies will let you borrow against. Permanent life insurance offers other structures, including universal life insurance, which bundles your insurance with an account that accrues tax-deferred interest.
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7 Factors Providers Consider for Life Insurance Premiums

What will your family do if they suddenly lose your income and have to pay your final expenses? Several factors play a part in determining your premium for a certain level of life insurance coverage.

Insurdinary helps you compare policy amounts and premiums to determine the best life insurance policy to meet your needs.

What factors go into determining your life insurance premium when you apply?
Illustration Personal Life And Wellbeing
Providers will ask questions about:

Your age

to determine how many years you can pay your premium based on life expectancy.

Your gender

to determine whether to use a higher or lower life expectancy, as women live longer on average.

If you smoke

as smokers tend to be at higher risk of health issues and death.

Your personal medical history and health

which may require a medical exam.

Your lifestyle and hobbies

to determine if you engage in risky behaviors like skydiving, auto racing, rock climbing, or boating.

Your family medical history

to determine the risk of developing certain health conditions.

Your driving record

to determine if you engage in unsafe driving behaviors such as driving under the influence or committing moving violations.

Types of Life Insurance Options to Consider

There are three primary models of life insurance policies, including:

Term Life Insurance

Term life insurance offers the most affordable premiums, but doesn’t build cash value. It offers a lump-sum payment for your beneficiaries if you die within the period limit of your policy.

Term life insurance is a good option for those who only need temporary coverage, such as for the length of time of their mortgage to cover the remaining balance if necessary. Decreasing term insurance would be a good fit in this situation.

Whole Life Insurance

Whole life insurance is a permanent life insurance policy that offers the policy amount of coverage over the course of your life, no matter how long.

These policies build cash value over time, allowing policy owners to borrow against the value of the cash accrued, though the payout could be lower if not paid back before passing. Laws require repayment or replacement if the insured allows their policy to lapse.

Universal Life Insurance

Universal life insurance policies offer a combination of features that include life insurance coverage and investment in the policy’s cash value with tax-deferred interest.

Other types of universal life insurance include variable insurance, where the interest is used in investments that fluctuate with the market, or indexed universal insurance, where the interest is used in guaranteed interest rate external investments.

Choosing Coveragefor a Life Insurance Plan

When selecting a life insurance policy, the main things you need to consider are how much coverage you need for your family after you pass away and what you can afford to pay now in premiums. You have two ways to calculate your coverage needs: multiplying your salary and using DIME (debt, income, mortgage, education).

To calculate your life insurance needs using your salary, simply multiply your annual salary by 10 for a minimum value, or 15 for a more comfortable policy amount. If you want to include college funding for your children, add between $100,000 and $150,000 to your estimate. For example, if you want comfortable coverage for your family with two children and earn $55,000 per year:

($55,000 x 15) + $300,000 = $1,125,000

To calculate your life insurance needs using DIME, you need to add each factor together and purchase coverage over that amount to manage any expenses left behind when you pass away. Add your costs for:

  • Debts including personal loans, credit cards, student loans, and car payments
  • Income from your current age to the age you expect to live
  • Your remaining mortgage or home equity loan
  • Costs of education for your children
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Do I Need
Life Insurance?

Although the government and other regulatory bodies don’t require life insurance like they do car or in the past, health insurance, life insurance is essential to protect your family when you pass away.

The average cost of a funeral in the U.S. is between $6,971 and $7,848, according to the National Funeral Directors Association (2021). Although cremation is often more affordable, it still costs thousands of dollars. Having a life insurance policy can at least cover the costs of your final expenses for your family.

Life insurance can also be a way to build and pass on generational wealth to your children or grandchildren. Whether you already have an estate plan in place and worry about your children paying an inheritance tax or worry about your assets depleting during probate, a life insurance policy with a higher coverage limit can help you leave a legacy for your family.

Your life insurance policy can also help you replace income you would have earned if you were still alive and working.

Millennials and Gen X Tend to Have Term Life Insurance Policies

Millennials (born between 1981 and 1996) and Gen X (born between 1965 and 1980) usually turn to term life insurance over permanent or universal life insurance due to the lower cost.

35% of millennials polled by ValuePenguin responded that the time to buy life insurance is while you’re young and healthy to take advantage of lower premiums. 36% of Gen X responded similarly. Getting married and having a first child were the next most important life events to buy life insurance for each of these groups.

Term life insurance is often more affordable than permanent life insurance. For example, a $250,000 whole life insurance policy for a male at age 40 is $3,638.76 per year ($303.23 per month) and $3,295.68 per year ($274.64 per month) for a 40-year-old female. Term life insurance for a $250,000 policy for a 30-year term averages to $23 per month for males and $20 per month for females. Prices decrease for shorter terms.

With costs over ten times the price of term life insurance, it’s no wonder generations suffering from depressed wages and unbound inflation are reluctant to get expensive permanent life insurance.

Gen Z Is the Most Likely to Have Permanent Life Insurance Coverage

While only 34% of Gen Z respondents have life insurance, gen Z has the highest rate of any generation of owning a permanent life insurance policy. 72% of Gen Z respondents who have life insurance have a permanent coverage policy.

Despite this, gen Z also has the largest need gap of any generation, with 48% reporting that they need more coverage than they currently have.

Because the oldest Gen Z adults were born in 1997, even a 30-year term life policy wouldn’t make sense for most of them since there are no benefits if the term expires (most would be around 55 or younger at the end of the term if they purchased a 30-year term life policy today).

Life Insurance Provides for Your Family After Your Passing

Life insurance offers several potential benefits to you and your family. Besides simply covering your final expenses, with a higher coverage limit to the death benefit your family receives, you can:
  • Replace lost income from your passing as a household contributor
  • Cover final expenses for your funeral and burial
  • Pay for your children’s education at a higher institute
  • Cover the remaining balance on your mortgage and other debts
  • Pay final taxes and debts to creditors so your family retains their respective inheritances through probate
  • Establish generational wealth even if you have few assets to leave behind when you pass away
You can also personally benefit from the flexibility of investing or borrowing with certain types of permanent life insurance policies.

Life insurance isn’t just about getting your family a lump sum when you pass away. It’s about helping you and your family feel financially secure now and in the future.

Why Pick Insurdinary
for Life Insurance Quotes?

At Insurdinary, we help you compare life insurance quotes for different levels of coverage. Whether you want a term life policy, permanent life insurance, or a universal life insurance plan, we can help you compare premiums and benefits to select a policy that gives you the coverage you need at an affordable rate.
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Get Quotes Fast

Whether you’re 18 or 80, it’s never too late to get life insurance.

Simply add your personal information to the quote form and get estimates from our network of providers in just a few minutes. We make it quick and easy to get life insurance quotes.

Secure the Lowest Rates

Our network of life insurance providers competes to offer you the best value.

You can sort through your quotes by coverage or premiums to get the lowest rates, best value, or best coverage options. Whether you’re shopping by price or plan, we can help!

Enjoy Easy Sign Up

When you find the right life insurance plan for you and your family, you can sign up in just a few clicks.

Our service is free to use, and we don’t charge hidden processing fees. Find your best life insurance plan and set everything up to begin your coverage.

How to Choose and Customize Life Insurance with Insurdinary

Insurdinary helps you compare features and costs to buy life insurance. Keep these essential ideas in mind when shopping for life insurance.

Factors that Affect Life Insurance Premiums

Factors that life insurance companies consider when determining your premiums include:
  • Age
  • Gender
  • Personal health
  • Medical history
  • Family medical history
  • Smoking and other drug use
  • Driving record
  • Credit
  • Criminal history
These factors could put you at higher risk of developing a serious health condition or passing away before meeting your break-even point in paying your premiums, leading insurers to quote higher rates.

Determining How Much You Need in Coverage

You can either multiply by your current income or add up your DIME (debt, income, mortgage, and education) factors to figure out your coverage needs.

Remember that your family will have expenses after you pass away. Will your life insurance coverage keep them out of debt when they no longer have your income?

Avoiding Taxes with a Life Insurance Policy

Permanent life insurance policies accrue cash value over time as you continue to pay your premiums. Wealthy families often use life insurance as a tax-free way to cover estate taxes and maintain the value of the estate for their heirs.

The death benefit paid directly to beneficiaries is non-taxable, and beneficiaries don’t pay an income tax on life insurance benefits received. However, if you name your estate as your beneficiary, that can increase the value of your estate and increase the taxes owed by your estate after your passing.

Who Needs Life Insurance?

Many people who don’t currently have life insurance need it to protect their families if they pass away. People who need life insurance include:
  • Parents of minor or special-needs children
  • Businesses with key employees
  • Wealthy families
  • People who own property together
  • Seniors with familial caregivers
  • People with preexisting conditions
  • People with student loan debt
  • Stay-at-home parents or spouses
  • Young people who want to get life insurance with lower premiums
  • Retirees who don’t want to draw their pensions

Compare Each Company, Premium, and Death Benefit

Your life insurance quotes from Insurdinary come directly from providers. Each company offers different benefits and premiums. Each also has ratings and reviews publicly available to help you determine if the company is a good match for you.

At Insurdinary, we partner with companies that offer the best options to meet your needs. We still recommend that you carefully review each option and every provider to ensure that the plan is right for you.

Choose the Right Life Insurance for You and Your Family

Different life insurance plan models come with their own advantages and disadvantages. Term life insurance offers shorter terms, but it also offers different payout options and benefits. Permanent life insurance will pay out the coverage amount and offers several options for managing and using the policy’s cash value during your lifetime.

When you compare life insurance policies, you have several options, including term life policies and permanent life policies:
Level Term Life Insurance
Decreasing Term Life Insurance
Convertible Term Life Insurance
Renewable Term Life Insurance
Term Life Insurance with Return of Premium
Whole Life Insurance
Universal Life Insurance
Variable Universal Life Insurance
Indexed Universal Life Insurance
And more...
Different providers may offer additional benefits in their policies. Review each quote thoroughly before applying for your life insurance policy.
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Life Insurance
Frequently Asked Questions (FAQ)

We know life insurance policy shopping can be confusing. See answers to some of our frequently asked questions below.

Do more men or more women have life insurance?

More men have life insurance, with women being twice as likely to not have life insurance as men. One in five American women has employer-provided life insurance, while one in three men report having employer-provided life insurance. Additionally, 39% of men responded feeling very knowledgeable about life insurance compared to 22% of women.

How do I calculate how much life insurance I need?

You can calculate the coverage you need for life insurance by multiplying your salary by a minimum of 10 for basic coverage. You can also use the DIME method and add up your remaining costs and amounts for current debts, income, mortgage, and education for your children.

How long does it take to get life insurance quotes from Insurdinary?

It only takes a few short minutes to get quotes from several life insurance providers after submitting your information.
At Insurdinary, we provide our customers with quotes from the top insurers across the country, free of charge. Simply quote, compare, and apply for your new life insurance policy.
No Deposit Necessary  •  No Added Fees  •  Pay Only For The Insurance You Sign Up For
Compare life insurance quotes for FREE!
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