The average life insurance policy is worth $500,000, though this varies depending on factors such as age, health, and lifestyle.
Here is a more detailed breakdown of average life insurance policy values by age group, according to the Life Insurance Marketing Institute:
20-29 years old: $100,000
30-39 years old: $250,000
40-49 years old: $500,000
50-59 years old: $750,000
60-69 years old: $1,000,000
Keep in mind that these are averages, so your individual life insurance policy value could be higher or lower depending on your circumstances.
For example, if you are in good health and have a dangerous job, you may be able to get a policy worth $1,000,000 or more. Or, if you are healthy but have a family history of health problems, your policy may only be worth $250,000.
The best way to find out how much life insurance you need is to speak with a life insurance agent. They will be able to evaluate your individual needs and recommend a policy that is right for you.