Updated: September 8, 2025
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Premiums for teenagers' life insurance are cheaper the younger and healthier the individual is when taking out a policy.
Consider buying life insurance for a teenager if there’s a family medical history of genetic conditions that could affect approval and premiums later in life.
Some companies will automatically transfer ownership of a teenager’s life insurance policy when they become an adult, while others require signed forms to complete the transfer.
The best type of life insurance for a teenager is permanent life insurance or a child rider on a family life insurance plan. Term life works for 18- or 19-year-olds because companies usually won't offer term life insurance to minors, even with parental purchase.
A child life insurance rider attaches to the parent's or guardian's life insurance policy. This family life insurance plan covers family members on one policy and offers the most cost-effective way for teenagers to get life insurance.
Coverage typically maxes out at $25,000 for minors and automatically ends when the child reaches 18 to 25, depending on the company. The child may convert the rider to their own policy without a medical exam.
Available for teens 18 and older, term life insurance costs less than permanent life insurance and lasts up to 30 or 40 years, depending on the carrier.
Once the policy term ends, coverage may be convertible to a permanent policy, though rates will reflect the current age at conversion. This option works best for temporary coverage needs, such as protecting against student loans or mortgage debt.
Permanent life insurance costs more than term coverage but lasts a lifetime and lets your teen lock in rates while they're healthy. No matter what health changes occur later, they can continue with the same low rates as long as premiums stay current.
If your family has a history of genetic conditions that could affect future eligibility, permanent life insurance may be your teenager's best option. Securing coverage early protects their ability to get life insurance regardless of future health developments.
Buying life insurance for your teenager can help safeguard their financial future.
Life insurance for minors requires parental or guardian consent and involves complex legal considerations. Consult with a licensed insurance professional to understand state-specific requirements and policy implications before making decisions.
The best life insurance for young people should match individual circumstances, needs and long-term goals. Young people get lower premiums due to their age and health, making this an optimal time to secure coverage. Your choice between term and permanent insurance should align with future financial plans and current lifestyle.
Choosing the best life insurance for a teenager involves more than comparing prices and policy features. Think about the insurer's financial stability and customer service reputation, alongside how well coverage aligns with your financial goals and teen-specific needs. Aspects to evaluate include:
Two main types of life insurance policies are available: term and permanent coverage. Term policies last set periods, usually 10 to 30 years. Permanent life insurance, including whole and universal life, lasts the teen's lifetime and can transfer to them as adults.
For parents, adding a child term rider to a family life insurance plan enhances coverage flexibility. These distinctions help identify the best teenage life insurance option.
Both term and permanent life insurance offer level premiums for the policy duration, with exceptions. Term insurance expires after the term ends, requiring the teen to buy coverage at their current age and health status.
While whole life insurance maintains level premiums, universal life offers premium flexibility, which may help if finances change in the future.
Term life insurance doesn't include a cash value component, but permanent life insurance does. You can use cash value several ways: withdraw the balance, take loans against the policy or pay premiums once the policy reaches minimum balance requirements.
Age limits matter when buying teen life insurance. Most term life insurance policies require applicants to be 18 or older. If your teen is younger, they may not qualify for term coverage. Permanent life insurance usually accepts applicants as young as 15 days old, so teens should qualify for permanent life coverage at any age.
Insurance company ratings help determine how well carriers can meet long-term financial obligations. Companies with A-rated or better financial strength have demonstrated their ability to pay life insurance claims. Insurance company rating agencies include:
Start by comparing quotes from at least three highly-rated insurers, then evaluate which policy type and coverage amount best matches your teenager's future financial responsibilities and your family's budget.
The cost of life insurance for a teenager depends on several factors, like the death benefit amount, plan type and insurance company you choose. Term life or a child term rider will be cheaper than permanent life insurance, but offers limited coverage. A larger death benefit will offer more financial opportunity, but comes with a larger payment. Each insurer has its own rating structure, so rates will vary by company.
Average rates for term life insurance policies for an 18-year-old nonsmoker with average weight and health rating are as follows:
| 10 years | $6 | $70 |
| 15 years | $7 | $87 |
| 20 years | $9 | $107 |
| 25 years | $13 | $153 |
| 30 years | $15 | $176 |
| 35 years | $21 | $255 |
Rates shown are estimates for comparison purposes only. Actual premiums depend on individual health, family medical history and insurer underwriting guidelines. Rates subject to change.
Several factors influence the cost of life insurance for a teenager:
Insurers often reward a clean bill of health with lower premiums, reflecting the reduced risk they take on. Conversely, existing health issues can elevate premiums as insurers account for the increased likelihood of a claim.
Engaging in high-risk activities such as extreme sports can greatly increase premium costs. Insurers consider these hobbies as increasing the probability of injury or death, in turn raising the risk they would need to insure.
Typically, policies for females may cost less due to their longer average lifespan, which spreads the risk over a more extended period.
Term life insurance, which covers a specific period, often comes with lower premiums compared to whole life insurance, which offers lifelong coverage. The duration of the term policy also influences the cost; longer terms usually mean higher premiums.
Opting for a higher death benefit translates to a greater financial risk for the insurer, which is offset by charging higher premiums.
If there is a history of chronic or hereditary diseases in the family, insurers may consider a teenager at higher risk for similar conditions and adjust premiums accordingly, even if the teen is currently healthy.
Understanding these factors can help you better navigate the complexities of securing life insurance for teens, ensuring coverage meets both financial capabilities and protection needs.
Age may also play a role in determining the right life insurance for teenagers. For instance, the best life insurance policy for an 18-year-old may differ significantly from that for a younger teen, such as a 13-year-old.
Older teens may benefit more from term life policies that align with their imminent transitions into adulthood, as they meet the age eligibility for this type of policy. Conversely, younger teens under 18 are not eligible for most term life policies, making permanent life insurance a more feasible option.
Buying life insurance for your teenager can help safeguard their financial future. Here's how to get coverage:
Figure out what financial support your teenager might need in the future. Consider college costs, potential health care needs and other expenses they may face. This helps you determine how much life insurance coverage your teenager needs for financial security.
Compare different types of life insurance policies available. Term life insurance offers coverage for set periods, while whole life insurance provides lifelong coverage and may build cash value. Choose the option that matches your teenager's long-term goals and your financial plan.
Get quotes from multiple insurers to find the best rates and coverage options. This step helps you find cost-effective teen life insurance that doesn't compromise necessary coverage.
Talk to a financial advisor who can provide advice based on your family's financial circumstances and goals. While optional, this step can guide you to the right type of life insurance and coverage amount for teenagers.
Most life insurance policies require a health assessment, which may include a questionnaire and medical exam. Medical exam requirements vary by insurer and coverage amount. Some policies may be issued without an exam based on health questionnaire responses.
Review the policy terms, paying attention to conversion options, benefits, exclusions and how cash value may grow over time. Understanding these details ensures the policy meets your expectations and needs.
Once you're satisfied with the policy details and pricing, complete the purchase. Submit required documents and provide necessary information to finalize coverage.
By following these steps, you can confidently secure life insurance for a teenager that provides both immediate and long-term financial security.
Avoid these common pitfalls when shopping for teen life insurance:
Choose a policy that can adapt as your teenager's life changes. Look for conversion options that let them switch from term to permanent coverage without a medical exam, or policies that allow coverage increases for major life events.
Cheap premiums matter, but don't sacrifice coverage quality. A low-cost policy might not provide the financial protection your teenager needs. Compare benefits against price to find real value.
Disclose all health details honestly. Hiding or misrepresenting health information can void your policy when you need it most. Accurate information ensures proper underwriting and claim payment.
Your teenager's insurance needs will change as they grow. Review coverage when they start college, get married or begin their career. Adjust coverage to match new financial responsibilities.
Read the fine print before buying. Know what's covered, what's excluded and how benefits work. Understanding your policy prevents surprises during claims and helps you use benefits effectively.
The right amount of life insurance for a teenager depends on what you want to cover and what you can afford in monthly premiums.
Start by deciding what the life insurance should cover. Do you want coverage for funeral expenses, ongoing childcare needs, education costs or other financial obligations? Higher death benefits mean higher premiums, so make sure you can afford payments for the policy's duration.
At minimum, buy enough life insurance to cover funeral expenses for your teen. Average funeral costs run $8,000 to $10,000, making this a reasonable baseline for teenage life insurance coverage. If your budget allows higher premiums, you can add coverage for other financial needs.
Consider your teenager's future responsibilities too. If they'll likely support dependents, carry student loans or own a home someday, higher coverage amounts make sense. Permanent life insurance lets them lock in low rates while they're healthy, even if health problems develop later.
Start with funeral expense coverage and build up from there based on your family's financial goals and premium budget.
Case 1: Teenager Planning Trade School or Work (17-year-old entering a trade program with family medical debt)
Coverage Calculation:
Total recommended coverage: $40,000
Rationale: This teenager works part-time while attending trade school and helps the family manage medical debt from a parent's surgery. The $40,000 policy ensures the family won't struggle with existing obligations if they lose this income contribution, while covering final expenses.
Case 2: Working Teenager Supporting Single Parent (18-year-old working full-time to help support single mother and younger sibling)
Coverage Calculation:
Total recommended coverage: $35,000
Rationale: This teenager's income helps cover rent, groceries and childcare for a younger sibling while the single parent works. The coverage ensures the family can maintain stability and cover childcare costs during the transition period without the teenager's financial support.
While most teenagers don't yet carry student loans, families often plan for future education expenses. Federal student loans are discharged upon the borrower's death, but private student loans usually require a cosigner, often a parent, who remains responsible even after the borrower's death.
Cosigner Protection Life Insurance
Once your teenager turns 18 and takes on private student loans, life insurance can protect the cosigner from unexpected debt obligations. Without coverage, parents or guardians could face tens of thousands of dollars in repayment.
Including Student Loans in Coverage Planning
If your teen is approaching college age, factor potential private student loan balances into your life insurance planning. For example, if you expect $40,000 in private loans and $25,000 for funeral and related costs, a $65,000 policy could prevent financial hardship for the cosigner.
Parents/Stepparents
Grandparents
Legal Guardians
Anyone buying life insurance for a teenager must have insurable interest in their life. This means they'll experience financial hardship when the teen passes away. Parents, stepparents, adoptive parents, legal guardians and grandparents can typically buy life insurance for teenagers.
The policy owner usually pays the premiums and controls the policy. Once the teen reaches adulthood (typically 18), ownership can transfer to them. Some states allow younger teens to own policies - for example, minors over 14.5 years old can own life insurance in New York.
Age of majority and policy ownership rules vary by state. Minor contract capacity laws differ across jurisdictions. Consult local regulations for specific requirements.
Minor teenagers can't get their own life insurance policy since they can't enter legal contracts (with limited state exceptions like New York above). Teens aged 18 or 19 are adults and can purchase their own coverage.
Once the teen becomes an adult, the current policy owner can transfer ownership to them by completing the insurance company's change of ownership form. As the owner, you control the policy and can make changes like accessing cash value or changing beneficiaries. Transferring ownership to your teen once they're adults gives them full control over their policy and the ability to make changes as needed.
In this case, the release of ownership and change of ownership mean the same thing. The owner transfers ownership of the policy to the insured teen, who is now an adult.
This provision is automatic in some policies, where ownership is automatically transferred to the teen when they turn 18. The owner agrees to this when they sign the initial contract. More commonly, the child becomes the owner when the original owner decides it’s time to transfer the policy and only after signing a form agreeing to the change.
Teenagers with special needs can have a life insurance policy. Most teen life insurance doesn't require a medical exam, though insurers may review the teen's medical history for approval and pricing purposes. Underwriters examine medical history, including special needs diagnoses, to determine eligibility and policy costs. Depending on the medical condition's severity and other health concerns, the teen may not qualify for coverage or may pay higher premiums.
Caring for a special needs teen can be costly and emotionally taxing. Life insurance for a special needs teenager helps cover medical treatments, final expenses and hidden costs of grieving, like replacing a family member's or caregiver's lost wages during recovery.
No special needs medical conditions automatically disqualify your teen from coverage. Qualifications vary by policy type and insurance company.
Teens with these special needs medical conditions can often qualify for life insurance coverage:
Working with a life insurance agent or financial advisor helps you identify the best coverage options for your special needs teen and their medical conditions.
Weigh the advantages and disadvantages before buying life insurance for a teenager. Life insurance for teenagers can guarantee their insurability and provide for funeral and medical expenses, but it's also a long-term commitment that may not align with every family's financial goals.
The best age to get life insurance depends on individual circumstances, but starting young offers clear advantages. Securing life insurance for teenagers or young adults provides lower premiums since insurers offer better rates to younger, healthier applicants.
Starting early provides long-term financial security and locks in insurability regardless of future health changes. Evaluate personal and family needs early to take full advantage of life insurance's financial protections as responsibilities grow.
If savings potential matters more than insurance protection, these alternatives to teen life insurance may work better:
1. 529 plan
A 529 plan is a tax-advantaged savings plan your child can use for K-12 tuition, apprenticeship programs or college. Each state offers a 529 plan with different fees and benefits. Qualified withdrawals are federal income tax-free and may be state tax-free too. This plan works best for kids planning higher education or needing funds for primary or secondary school.
2. Education savings account (ESA)
A Coverdell ESA is a custodial account for qualifying education expenses, similar to a 529 plan. You must meet income limits to contribute a maximum $2,000 annually, and contributions aren't tax-deductible. Distributions are tax-free as long as they don't exceed qualified education expenses. ESAs work best for parents funding elementary or secondary school tuition and expenses.
3. Uniform gift to minors act (UGMA)
UGMA accounts let parents gift cash, bonds, stocks or mutual funds to a trustee account. The first $15,000 in annual gifts are federal income tax-free, but amounts over that get taxed at the minor's rate. The child becomes sole owner at 18 or 21, depending on state law. Custodians can use funds for the child's welfare or education, but unlike education accounts, there are no spending restrictions. Since the account belongs to the minor, it can affect financial aid eligibility.
4. Self-savings
Traditional savings accounts, investment accounts or Roth IRAs offer another option. Parents set up accounts for children and save without ties, limitations or taxes. While savings and investment accounts rarely have tax implications, withdrawing IRA earnings before age 59½ can trigger tax consequences. This option works best for high-income earners who want maximum flexibility.
Although all life insurance policy types can cover teens, not all policies are ideal for teenagers. When looking for the best life insurance for a teenager, consider age-specific factors, such as age limits on policies, the flexibility of terms, how premiums may change and whether the policy builds cash value.
Explore options that meet the minimum age for life insurance requirements and offer affordable life insurance for teenagers. Doing this ensures that your chosen policy provides immediate finanprotection and long-term financial planning benefits, making it an ideal choice for teenagers' life insurance.
Ensure you are getting the best rate for your insurance. Compare quotes from the top insurance companies.
We answer common questions about buying life insurance for teenagers:
The teenager's life insurance policy may be transferred to the teenager, who is now an adult. Or the policy owner, who is the parent, grandparent or guardian, may opt to remain the policy owner.
Teenagers rarely need medical exams for life insurance, though exceptions vary by carrier and product type. Even without medical exams, insurers may review the teen's medical history and immediate family health history to determine eligibility and pricing.
Yes, teenagers can be declined life insurance coverage. Severe medical conditions or other factors can disqualify teens from coverage, just like adult applicants.
The best age to apply for teen life insurance is now if you haven't already purchased a policy. Life insurance gets more expensive as your teen ages, and they're more likely to develop medical conditions that could disqualify them or increase premiums.
Anyone with insurable interest can be named a life insurance beneficiary of a teenager's policy. This includes parents, guardians, stepparents, adoptive parents or grandparents. Outside these relationships, the person must show they'd experience financial hardship if the teen died.
The best life insurance for teenagers often includes permanent policies or child riders on family plans, providing affordable premiums, guaranteed insurability and cash value growth. These options secure teens' financial futures efficiently.
Term life insurance works for 18- or 19-year-old teens since most insurers require minimum ages for term policies. Term coverage offers cost-effective temporary protection for families with specific financial goals.
Teen life insurance provides these key advantages:
Life insurance makes sense if you want to secure financial stability for loved ones. Teen life insurance can be especially cost-effective, providing long-term benefits at lower premiums.
Get life insurance during major life events like starting a family or buying a house. These milestones increase the need for financial security, making early investment smart for sustained benefits and lower rates.
Buying life insurance young saves money through lower premiums tied to younger ages and better health. Early investment secures financial protection and locks in lower rates, maximizing the benefits of coverage at a young age.
Minimum age requirements vary by provider and policy type. Permanent life insurance typically starts at a few months old, allowing young children to get coverage. Term life insurance requires applicants to be at least 18 years old since it's aimed at adults who can enter legal contracts.
Getting life insurance young offers lower rates and establishes financial protection early. Young people without dependents or significant financial obligations may view this as an unnecessary expense.
Most teens think life insurance is something they'll worry about later, but starting early can save thousands over a lifetime. We gathered 1,488 life insurance quotes across multiple age ranges (for comparison purposes only; individual rates may vary significantly based on personal circumstances) to show you exactly how much waiting costs and when the savings are most dramatic.
Our approach reveals the real dollar impact of buying coverage as a teenager. This timing matters more than most people realize.
Sample Profile Details
We built our comparison around a realistic teenage profile:
Baseline Profile:
We then adjusted this profile by:
Gender: Female profiles based on 5'4" and 120 lbs
Coverage amounts and term lengths that reflect real buyer needs at different life stages
Why This Methodology Works for Teens
Teens face unique timing decisions that older buyers don't. Your health is likely at its peak, but your income and financial responsibilities are just starting. We designed this research to answer the specific questions teens and their parents ask:
Data Recency
All pricing and company data were last updated in 2025, ensuring current market rates inform our timing recommendations. This matters because life insurance pricing has shifted significantly in recent years, making some conventional wisdom about teen policies outdated.
About Mandy Sleight
Mandy Sleight is a licensed property, casualty, life and health insurance agent with 20 years of experience in the industry. She has worked for major insurance companies like State Farm and Nationwide, and most recently as the Operations Coordinator for a startup employee benefits company.
Sleight holds a business administration and management degree from the University of Baltimore and a master's in business administration from Southern New Hampshire University. She uses her vast knowledge of insurance and personal finance to create easy-to-understand and engaging content to help readers make smarter choices with their budgets and finances.
