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Life Insurance

Protect your family with affordable and flexible life insurance coverage from Erie Family Life.

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Keeping a Home in the Family

Jason and Amy are raising a family while paying down their mortgage. Whatever happens, they don’t want their children to lose their home or be burdened with their debt.

What’s the answer?

Jason and Amy purchased 30-year term life insurance policies to pay off their mortgage. Their wish is to have the home passed down to their children.

FINAL EXPENSES

Innovative & Collabrative

David is the primary wage-earner for his family and worries about a time he might not be there anymore. He wants to ensure his family isn’t burdened by costs for his funeral or unpaid medical bills.

What’s the answer?

David purchased a permanent life insurance policy from Erie Family Life to provide the funds necessary to pay final expenses. He feels better knowing it might help ease their pain during a stressful time.

INCOME & DEBT

Safeguarding Your Family’s Lifestyle

John and Lisa each contribute to their household of seven. They want to make sure the income they provide today is there for the family should something happen to either of them.

What’s the answer?

20-year term life plans from Erie Family Life put John and Lisa’s concerns to rest. Each policy can be used to help pay off debt and pay the monthly bills in order to maintain the family’s lifestyle.

EDUCATION

What if College Dreams are Cut Short?

James and Mary are proud of their daughter who is in college. They hate to think about it, but what if something was to happen to her? Could they pay off the student loans they cosigned?

What’s the answer?

College loan protection coverage can protect James and Mary from the added heartache of paying college debt. The 20-year term life insurance policy they selected can be used to pay off student loans.

RETIREMENT

Like many of us, Michael is looking for a safe way to ensure his dreams of a comfortable retirement become reality. He is planning to save for the future and wants to guarantee an income during his retirement years.

What’s the answer?

Michael wasn’t sure where to start so he talked to his local ERIE agent. Erie Family Life offers several retirement savings options like annuities, Individual Retirement Accounts (IRAs) and life insurance planning for businesses.

ESTATE PLANNING

Barbara has worked hard to build a good life and wants to leave behind a legacy that matters. She would like to establish a plan that would help her family financially and ensure charitable gifts to her favorite organizations.

What’s the answer?

Barbara purchased a permanent life insurance policy from Erie Family Life that will provide for her family and her favorite charities. It offers guaranteed cash value accumulation and a guaranteed death benefit.

BUSINESS

Karen and Susan are business partners who put their heart and soul into making sure their business thrives. They want to be prepared in case something should happen to one of them or to a key employee.

What’s the answer?

Karen and Susan talked to their ERIE agent about how to use life insurance for smart business planning. They purchased a universal life policy to provide funding for a buy-sell agreement and key person protection.

CALCULATE YOUR NEEDS

How much would you need to leave behind?

Estimate your coverage needs with our life insurance calculator. Fast, private, and no obligation to send to an agent.

FACTS OF LIFE INSURANCE

It's more affordable than you think.

Why buy life insurance?

It can cost around

$310k

to raise a child to age 17.^¹

IT can COST Around

$8k

for a modest funeral.^²

IT can COST Around

$14.24

per month for $250,000 in life insurance through ERIE.

¹

According to 2022 statistics from the Brookings Institution. Cost applies to middle-income family with two children and does not include college.
²

According to 2021 data provided by the National Funeral Directors Association.

Compare

See how different types of Life Insurance stack up.

LIFE INSURANCE OPTIONS	WHAT IT IS	WHO IT'S FOR
Term Life	Select from a 10-, 15-, 20- or 30-year plan to protect.	People who need cost-effective protection for loved ones left behind.
Whole Life	Protection with premiums and coverage that are guaranteed to remain the same for your lifetime.	People who need a permanent life insurance solution that is fully guaranteed.
Universal Life	Entire life protection; includes a policy cash value with flexible payment schedule.	People who need: College savings Estate planning Business planning Additional retirement savings
ERIExpress Life	Easy-to-get, easy-to-afford life insurance with coverage up to $500,000 with a simple application process and faster approval time.	People who need affordable life insurance and protection for loved ones left behind

LIFE INSURANCE OPTIONS

WHAT IT IS

Select from a 10-, 15-, 20- or 30-year plan to protect.

WHO IT'S FOR

People who need cost-effective protection for loved ones left behind.

LIFE INSURANCE OPTIONS

WHAT IT IS

Protection with premiums and coverage that are guaranteed to remain the same for your lifetime.

WHO IT'S FOR

People who need a permanent life insurance solution that is fully guaranteed.

LIFE INSURANCE OPTIONS

WHAT IT IS

Entire life protection; includes a policy cash value with flexible payment schedule.

WHO IT'S FOR

People who need:

College savings
Estate planning
Business planning
Additional retirement savings

LIFE INSURANCE OPTIONS

ERIExpress Life

WHAT IT IS

Easy-to-get, easy-to-afford life insurance with coverage up to $500,000 with a simple application process and faster approval time.

WHO IT'S FOR

People who need affordable life insurance and protection for loved ones left behind

See related stories from our blog

Term vs. Whole Life Insurance: Which Do You Need?

I Have Life Insurance Through Work. Isn’t That Enough?

Buying Life Insurance for the First Time? Then Read These 8 Tips

Request a Quote

Find out if ERIE is right for you. An agent will be in touch.

1. About You

Age

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Relationship

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Children

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Final expenses

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Income

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Mortgage

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Student loans

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Other debt

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Monthly expenses

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Education

-

Other education

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Inheritance

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Other benefits

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Other assets

-

How old are you?

Error: Enter an age less than 100

Do you have a spouse or partner?

yes
no

Do you have any children?

yes
no

How much would you need for final expenses?

This covers funeral costs and/or medical expenses not covered by health insurance. $15k is an average, but you might need more (e.g., your family would need to travel for a funeral).

Error: Amount cannot be greater than 99,999,000

What is your personal annual income?

We'll use this to help determine your monthly expenses.

Error: Amount cannot be greater than 99,999,000

Do you have a mortgage?

yes
no

How much do you owe on your mortgage?

Error: Amount cannot be greater than 99,999,000

Do you have any student loans?

yes
no

What's the total amount of student loan debt you're responsible for?

This includes existing student loans from a spouse/partner and/or children.

Error: Amount cannot be greater than 99,999,000

Do you have other debt? For example: credit cards, auto loans, personal loans, medical expenses, etc.

yes
no

How much other debt do you have?

Error: Amount cannot be greater than 99,999,000

How much would your family need for added expenses, per month?

Consider expenses like food, utilities, transportation, plus extras like vacation. (Mortgage or other debts are covered separately.)

Error: Amount cannot be greater than 999,000

How many years would they need this added monthly income?

Error: Number of years cannot be greater than 999

Do you want to contribute to any of your children's higher education?

yes
no

How old are your children? Leave unused fields blank.

child 1

child 2

child 3

child 4

How old are your children? Leave unused fields blank.

child 5

child 6

child 7

child 8

How old are your children? Leave unused fields blank.

child 9

child 10

child 11

child 12

How old are your children? Leave unused fields blank.

child 13

child 14

child 15

child 16

How old are your children? Leave unused fields blank.

child 17

child 18

child 19

child 20

What kind of education? Pick the one your children would most likely attend and we'll project how much your college education expenses might be.

Community (average annual cost $11,439*)
Public (average annual cost $19,548)
Private (average annual cost $43,921)
*Source: Collegeboard.org

*Source: Collegeboard.org

Do you want to contribute to anyone else's education? For example: grandchildren, nieces, nephews, etc.

yes
no

How much would you like to contribute?

Error: Amount cannot be greater than 99,999,000

Would you like to leave an inheritance or charitable gift? For example: family members, charities, churches, or other organizations.

yes
no

What's the total amount you would like to leave?

Error: Amount cannot be greater than 99,999,000

How much do you already have in life insurance?

For example: a policy provided by your employer.

Error: Amount cannot be greater than 99,999,000

Do you have other assets that could be used to cover expenses?

For example: savings accounts, stocks, bonds, CDs, etc.

Error: Amount cannot be greater than 99,999,000

Your results.

Based on your responses, here's the estimated amount of coverage you may need to keep your loved ones protected:

$0

Your calculations.

Category	Amount
Debts & expenses	$0
Education	$0
Legacy & inheritance	$0
Assets	$0
Total	$0

Your options.

Term life is cost-effective protection for a specified amount of time. Term doesn't build up cash value. Whole life provides protection as long as you live (premiums must be paid) with a guaranteed level premium. Universal life is a flexible policy with variable premium payments. Typically for people who need college savings, estate planning, business planning, or additional retirement savings. There is cash value.

What's next?

Your agent can help you choose the policy that best fits you and your family's needs.

This calculator is a planning tool designed to assist you. The results and explanations generated by this calculator may vary due to your input and assumptions. Erie Insurance does not guarantee the accuracy of the calculations, results, explanations, nor applicability to your specific situation. All projections are hypothetical and we recommend you use this calculator as a guideline only. For a more accurate and detailed analysis specific to your circumstances and needs, contact an ERIE agent or other financial professional.

Here's the estimated amount of coverage you may need:

$0