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Compare $100,000 life insurance policies

Only need $100,000 life insurance? You could pay less than a dollar a day on average.

Narrow down life insurance companies by coverage levels, riders offered, medical exam requirements and more to get a quote for a $100,000 life insurance policy.

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Sproutt
Sproutt
18 - 60 years old
$50,000
$4,000,000
5, 10, 15, 20, 25 and 30 years
No
Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
Policygenius - Life Insurance
18 - 85 years old
$50,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
Bestow
18 - 60 years old
$50,000
$1,500,000
10, 15, 20, 25, 30 years
No
Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
Everyday Life
20 - 75 years old
$100,000
$10,000,000
10, 15, 20, 25, 30, 35 and 40 years.
No
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
Ladder
20 - 60 years old
$100,000
$8,000,000
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
JRC Life Insurance
18 - 85 years old
$5,000
$50,000,000
10, 15, 20, 25, 30, 35, 40 years to lifetime/age 121
May be required
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A $100,000 life insurance policy makes sense for people who already have healthy savings or retirement accounts or people who need a low-cost way to provide some support to their family after they die. When you die, your policy can kick in to help your family replace your salary for a period of time, cover medical or funeral costs or pay down any debts you owe. However, you’ll likely need to pass a medical exam to get this amount of coverage, since most policies without medical exams cap coverage much lower.

How much a $100,000 life insurance policy costs

A $100,000 term life policy could cost you as little as $10.28 a month for a healthy woman in her 20s, and $11.86 for a healthy man of the same age. For many insurers, this is the minimum amount of coverage you can buy, making it your cheapest option. However, how much you pay comes down to your age, health, lifestyle and occupation.

AverageManWoman
20$11.86$10.28
25$11.62$10.52
30$11.80$10.68
35$12.12$10.95
40$14.30$12.88
45$19.00$16.64
50$26.55$22.91
55$39.18$28.78
60$62.52$45.90
65$113.28$80.88

*Sample rates averaged from five major insurers in the US: Protective, Prudential, MassMutual and Mutual of Omaha. They’re valid as of January 2021.

When a $100,000 policy makes sense

If you need coverage at a cheaper price or you’re using life insurance as a supplement to savings or other life insurance policies, you may only need a policy worth $100,000. Tally up your income, any savings and financial obligations to determine if this coverage amount meets your needs, but it may be enough for people that:

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  • Make less than $20,000 a year. The general rule of thumb for how much coverage you need is 5 to 10 times your annual salary. If you make under $20,000 annually or are still climbing the career ladder, a $100,000 policy might be enough to help your family stay afloat if you die.
  • Can’t afford more coverage. If your budget doesn’t allow for a higher coverage policy, getting a $100,00 policy is a lower-cost way to ensure your family has some financial cushion to help with bills, medical costs or funeral costs after you die.
  • Only want to cover specific expenses. If you’re buying coverage to pay for a specific debt, like your mortgage, or your funeral costs, this amount of coverage may be enough. Just do the math to make sure this amount covers the debt you’re aiming to help your family pay off.
  • Want to ladder policies. If you already have a life insurance policy and want to increase your coverage level or the amount of time your coverage lasts, adding a $100,000 term policy to your insurance assets may meet your needs.
  • Have savings or assets. If you have healthy savings, no dependents, little debt and few liabilities — this amount of coverage can supplement the costs for end-of-life expenses or provide an inheritance to loved ones.
  • Have working or retired spouses. If your spouse makes good money or you’re retired, you might not need more than $100,000 in coverage to help cover your family’s living expenses after you die.
  • You want keyman insurance. A $100,000 keyman insurance policy may be enough to offer your company cash flow and financial security while searching for a replacement if an important employee or partner dies prematurely.

$100,000 policies require a medical exam, but you have options

If you want $100,000 in coverage you’ll likely have to pass a medical exam or complete a medical questionnaire in order to receive coverage. A medical exam includes questions about your medical history and a physical exam. These results help your insurer assess your level of risk and are a factor in determining how much you’ll pay for coverage.

If you don’t want to take a medical exam, you can opt for a simplified issue policy, which waives the medical exam and only requires you to fill out a health questionnaire of about 20 yes or no questions. These policies are ideal for people who have been denied coverage due to pre-existing conditions, and for those who need coverage fast — say, to secure a business loan or fulfill a court order. However, they’re expensive, so you may be better off with a traditionally underwritten policy in some cases.

If you’re looking for a guaranteed issue policy, which skips both the medical exam and a health questionnaire, you likely won’t be able to get $100,000 in coverage. Most insurer’s cap guaranteed coverage between $2,000 and $25,000.

How to qualify for a $100,000 policy

To be approved for coverage you’ll only need to prove you have an annual salary over $10,000 and pass a medical exam. And you won’t have a hard time finding a policy, most top insurers offer a $100,000 policy.

Bottom line

Once you’ve decided you need life insurance, the next step is working out how much coverage to buy. Think about your financial obligations now and in the future, and why you’re buying your policy. If you’re simply purchasing life insurance to boost your business or help your family tie up loose ends, or your financial responsibilities come to $100,000, you may be the right candidate.

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    2 Responses

      Default Gravatar
      kenOctober 30, 2018

      i know a nonsmoker male 67 yrs fair health he pays $140 month for $100,000 life insurance is this high or in range

        Avatarfinder Customer Care
        johnbasanesOctober 31, 2018Staff

        Hi Ken,

        Thank you for leaving a question.

        The coverage on life insurance depends on a couple of factors from Health to income to lifestyle. These are all taken into consideration when assessing the coverage for an individual. You may need to reach out to a lender to know the specifics as to how this is computed. Hope this helps!

        Cheers,
        Reggie

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