Life insurance costs can vary greatly. The best thing to do is talk to a licensed insurance agent for a quote and your coverage options. The cost of life insurance plays directly into another common question: How much life insurance do I need? There are also several different types of life insurance that only you can decide on which one is most right for your situation. The cost of your life insurance policy will vary depending on each unique individuals risk, how much coverage you want and what type of policy you choose. Additional impacts are gender, age and overall health.