How much is a $500,000 life insurance policy?

Worried about how much life insurance is going to cost? You can rest easy knowing Cardinal has a policy to fit every budget. See if a $500,000 life insurance policy will be enough to help protect your family if the unexpected were to happen.

Average costs of $500K online term life policies

Discover how Cardinal can help get you up to a 500k term life insurance policy at an affordable rate. This chart shows average costs for a 10- to 30-year term, $500,000 life policy premiums for healthy, non-smoking 35-year-old males and females.

Start protecting loved ones today with an instant quote

Help secure your family's financial future with life insurance that can help cover expenses such as burial costs, outstanding debt, mortgage payments, tuition, and other day-to-day expenditures. Providing for your family can start today with an instant online life insurance quote. By just answering a few health questions, you can secure online life insurance with no medical exam. It’s the easiest and fastest method to protect loved ones.

Is a $500K policy enough?

While everyone's situation is unique, there are guidelines to help you determine how much coverage you need.

A $500K life insurance policy can help protect your family if the unexpected happens. But is it enough? Experts recommend you carry at least ten times your annual salary. Another useful way to determine your coverage calculations is the DIME formula (debt + income + mortgage + education). Add these four factors together to give you a better idea of your coverage needs.

• Debt: The total of any outstanding debt, such as student loans or credit cards bills
• Income: Multiply your salary by the estimated number of years your family would need support ($50k salary x 10 years = $500k)
• Mortgage: Mortgage balances or housing expenses
• Education: Estimate the costs to pay for your children's tuition

How can I qualify for a $500,000 life insurance policy?



• Age: Life insurance coverage costs more the older you get. The younger you are, the higher amount of coverage you'll qualify for.
• Health: The better your health status, the better your chance of being approved for a higher policy.
• Income: Many applicants can qualify for coverage up to 30 times their annual salary. Depending on how much you make and your financial situation, you may want to consider increasing your coverage.

Why choose Cardinal for my $500k policy?

Cardinal makes it quick and easy to apply for life insurance tailored to your budget and coverage needs.

Instant online quotes for $500k policies


Complete our online application in minutes. It's quick, straightforward, and no paperwork or phone calls or texts are necessary (but we're always here to help if you need us).

Affordable, personalized coverage

Cardinal offers a wide variety of coverage options to fit your budget and provide the coverage you need.

Honest advice, non-pushy agents

You don’t need to talk to an agent – unless you want to. Our agents are experts in finding you the coverage that best suits your family’s needs.

Easy, hassle-free cancellation

If you change your mind within the first 30 days of activating your coverage, we'll refund your payment in full. And with Cardinal, you can cancel your policy anytime with no extra fees.