COBRA Premium Cost Calculator

• Term life is typically 5–10x cheaper than whole life for the same coverage amount.
• Your coverage should replace 10–12x your annual income for dependents.
• Premium quotes vary widely by carrier — always compare at least 3.

1. 1Enter your age, coverage amount, and term.
2. 2Add relevant health, income, or lifestyle inputs.
3. 3Review the estimated premium and coverage breakdown.
4. 4Compare scenarios by changing term or sum assured.
5. 5Share the estimate with a licensed advisor before buying.

• Families sizing life or term cover
• Small-business owners evaluating group cover
• Anyone comparing quotes across carriers
• Independent advisors preparing needs analysis

• When buying, renewing or increasing cover
• After a life event — marriage, child, home purchase
• When comparing quotes from multiple carriers
• Before switching to a new policy

• Age, gender and health class
• Coverage amount and policy term
• Riders and add-on benefits
• Smoker / non-smoker status
• Payment frequency

Illustrative examples using U.S. market averages. Enter your own numbers above for a personalized figure.

• Under-insuring based on today's income only, not future needs.
• Confusing sum assured with maturity value.
• Skipping riders that materially change the premium.

• Get quotes from at least 3 carriers before renewing.
• Level-term policies are often cheaper than annual renewable term over 10+ years.
• Match the coverage term to the length of the obligation you're protecting.

• Estimate premiums without giving up your phone number.
• Compare term lengths and coverage amounts in one view.
• Understand the drivers of your quote before speaking with an agent.
• Unbiased — we don't sell policies or take commissions.

• Actual premiums depend on underwriting, medical exam and carrier.
• Does not account for state-specific mandates or riders.
• Estimates only — final quote must come from a licensed carrier.
• Not a solicitation, offer to sell insurance or advice.

Term life

Coverage for a fixed period (e.g. 20 years). Pays out only if you die within the term — the cheapest way to buy pure protection.

Whole life

Permanent coverage with a cash-value component. Premiums are 5–10x term for the same death benefit.

Rider

An optional add-on to a base policy — waiver of premium, accidental death, critical illness. Riders change the price and coverage.

Underwriting class

The risk tier a carrier assigns based on health, lifestyle, and family history. Preferred Plus can cost half of Standard for the same policy.

Deductible

The amount you pay out of pocket before the insurer starts covering claims. Higher deductibles usually mean lower premiums.

• Compare quotes from at least 3 A-rated carriers before signing.
• Match the term length to the obligation (mortgage payoff, kids through college).
• Read the exclusions section — that's where claim denials usually start.
• Have an independent advisor review the policy illustration for whole/universal life.

The formulas, rates and definitions used by this calculator are aligned with the following official sources:

• IRDAI — Insurance Regulatory and Development Authority of India — Product regulations, mortality assumptions and surrender rules.
• National Association of Insurance Commissioners (NAIC) — U.S. consumer guidance on life, health and auto coverage.
• Financial Conduct Authority (FCA) — UK — UK insurance disclosure and consumer-duty rules.

We use only primary sources — regulators, standards bodies and scheme operators. See our full sourcing policy for details. Sources & References Policy · Calculator Methodology · How We Verify Formulas

We continuously review and improve our calculators to keep formulas, assumptions and references accurate.

In-depth insurance guides, worked examples, and expert explainers.

• Finance Calculators

  Compare premium to the debts you're protecting.

• Investment Calculators

  Coverage should scale with dependents' future needs.

• Tax Calculators

  Understand HSA, FSA and health-premium tax treatment.

• Save this cobra premium cost calculator to compare scenarios later
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• Read our guides for deeper explanations
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