Best Life Insurance for Young Adults: Top-Rated Companies in 2025

Legal & General, Assurity, North American, Columbus Life, Ethos and Lincoln Financial are some of the best life insurance companies for young adults in 2025.

Find out if you're overpaying for life insurance below.

By Mark Fitzpatrick

Edited by Rae Osborn

Updated: October 8, 2025

Advertising & Editorial Disclosure

Key Takeaways

Buying life insurance at a young age means lower premiums, better coverage options, and easier approval.

Legal & General is the best term life insurance company for young adult men, with average rates of $24 per month and $283 per year. For young adult women, the best option is Assurity with average rates of $17 per month and $210 per year.

Depending on your budget, debt and future family plans, your needs may vary from basic term coverage to permanent life insurance.

North American offers the best whole and universal policies for young adult women, while Columbus Life ranks first for whole and universal plans for young adult men. Ethos earned the highest MoneyGeek score for indexed universal life insurance.

Lincoln Financial has the lowest average rate for young adults, costing an average of $14 per month for women and $18 per month for men.

Best Life Insurance Companies for Young Adults

Legal & General and Assurity offer the best term life insurance for young adults. For permanent life insurance, North American, Columbus Life and Ethos are the top life insurance companies for young adults.

Lincoln Financial is the best life insurance company for young adults who value affordability the most.

Buying a policy in your 20s can help you lock in lower premiums and secure long-term financial protection early in life. For this analysis, we define young adults as people aged 20 to 29.

The sections below highlight MoneyGeek's top picks for different types of life insurance:

Best Term Life Insurance for Young Adults


Men	Legal & General	4.7	$24	$283
Women	Assurity	4.6	$17	$210

Rates based on MoneyGeek survey of major insurers. Your actual rates may vary significantly based on health, lifestyle and other underwriting factors. Contact insurers directly for personalized quotes.

Legal & General

Best Term for Men

MoneyGeek Rating

4.7/ 5

4.6/5Affordability

4.7/5Customer Experience

4.7/5Coverage Options

Average Monthly Cost
$24
Average Annual Cost
$283

Assurity

Best Term for Women

MoneyGeek Rating

4.6/ 5

4.7/5Affordability

4.6/5Customer Experience

4.5/5Coverage Options

Average Monthly Cost
$17
Average Annual Cost
$210

Best Permanent Life Insurance for Young Adults


IUL	Ethos	5	$133 (women) $158 (men)	$1,591 (women) $1,899 (men)
Whole and Universal for Women	North American	5	$220 (Whole) $106 (Universal)	$2,636 (Whole) $1,275 (Universal)
Whole and Universal for Men	Columbus Life	4.3	$258 (Whole) $120 (Universal)	$3,099 (Whole) $1,455 (Universal)

Ethos

Best Indexed Universal Life Insurance

MoneyGeek Rating

5/ 5

5/5Affordability

5/5Customer Experience

5/5Coverage Options

Average Monthly Cost
$133 (women); $158 (men)
Average Annual Cost
Cost $1,591 (women); $1,899 (men)

North American

Best Whole and Universal for Women

MoneyGeek Rating

5/ 5

5/5Affordability

5/5Customer Experience

5/5Coverage Options

Average Monthly Cost
$220 (Whole); $106 (Universal)
Average Annual Cost
$2,636 (Whole); $1,275 (Universal)

Columbus

Best Whole and Universal for Men

MoneyGeek Rating

4.3/ 5

5/5Affordability

3.3/5Customer Experience

3.3/5Coverage Options

Average Monthly Cost
$258 (Whole); $120 (Universal)
Average Annual Cost
$3,099 (Whole); $1,455 (Universal)

Most Affordable: Lincoln FInancial

Lincoln Financial

MoneyGeek Rating

4.5/ 5

5/5Affordability

3.6/5Customer Experience

4.5/5Coverage Options

Average Monthly Cost
$14 (women); $18 (men)
Average Annual Cost
$175 (women); $222 (men)

Best Life Insurance Policy for Young Adults: Buying Guide

Buying life insurance in your 20s or 30s is a smart financial move becasue premiums are lower, approval is easier and coverage options are broader when you're young and healthy. This guide covers what to consider as a young adult, including whether term or whole life insurance fits your goals, how much coverage you might need and which providers offer the best value. Whether you're covering student loans, locking in low rates or building a financial foundation, compare policies and choose the right fit for your stage in life.

How to Get the Best Life Insurance for Young Adults

Getting life insurance involves five straightforward steps:

1
Get Quotes and Compare
Request quotes from multiple insurers online or through agents. You'll need basic information, such as age, health status and desired coverage amount. Compare premiums, financial ratings and policy features before selecting your preferred insurer.
2
Complete the Application
Fill out the application with accurate details about your health, lifestyle and family history. Disclose all conditions and medications honestly to avoid losing coverage later. Most applications can be completed online or over the phone.
3
Take the Medical Exam
Schedule the free exam if your insurer requires it. Prepare for basic measurements, blood pressure checks and lab tests such as blood and urine samples. Some insurers may waive the exam for certain coverage amounts.
4
Wait for Underwriting Review
The insurer reviews your application and medical results and may request additional medical records from your doctor. The insurer will determine your risk level and final premium rates. Provide any additional documents if requested.
5
Activate Your Policy
Once approved, review your policy documents. Sign acceptance forms and make your first payment to put coverage in force. Use the free look period, which lasts 10 to 30 days, depending on your state, to decide if the policy meets your needs.

Average Cost of Life Insurance for Young Adults

When buying a policy, it helps to understand how much coverage typically costs at your age.

Life insurance rates for young people vary based on several factors. The shorter your policy length, the more affordable your premium becomes because you're more likely to outlive a shorter term. Another consideration is your policy's face value. The larger the death benefit your family will receive, the more expensive the rate.

The tables show how the average monthly cost of life insurance varies by age, policy type and coverage amount:

At a Glance: Life Insurance Costs

For a 20-year term policy with $500,000 coverage, young men pay about $34–$35 per month, while women pay $27–$29 per month.

Whole life insurance is much more expensive, ranging from $83 to $430 monthly for men and $69 to $385 for women.

The average monthly cost of universal life insurance for men is between $40 and $196, and for women, it is between $36 and $178.

Indexed universal life (IUL) policies start higher than standard universal life, with men paying $56 to $286 per month and women paying $54 to $238.

*Rates are based on quotes for nonsmoking young adults (20 to 29 years old) in average health with a $500,000 coverage amount. Premiums vary by age, gender and coverage amount.

Term Life Insurance Cost for Young Adults

Data filtered by:Results filtered by:

Age

Select

Age:20

Gender

Select

Gender:Female

Coverage Level

Select

Coverage Level:$1,000,000


10 years	$35	$420
15 years	$41	$490
20 years	$50	$600
25 years	$82	$984
30 years	$86	$1,037
35 years	$148	$1,776
40 years	$220	$2,638

*The rates above are for young adults who don't smoke, have average weight, and have average health ratings. Actual life insurance prices may vary depending on the applicant's profile and coverage needs.

Whole Life Insurance Cost for Young Adults

Data filtered by:Results filtered by:

Age

Select

Age:20

Gender

Select

Gender:Female


$50,000	$7	$82
$100,000	$14	$164
$150,000	$21	$246
$200,000	$27	$328
$250,000	$34	$410
$300,000	$41	$492
$350,000	$48	$574
$400,000	$55	$656
$450,000	$62	$738
$500,000	$69	$820
$550,000	$75	$902
$600,000	$82	$984
$650,000	$89	$1,066
$700,000	$96	$1,148
$750,000	$103	$1,230
$800,000	$110	$1,312
$850,000	$116	$1,394
$900,000	$123	$1,476
$950,000	$130	$1,558
$1,000,000	$137	$1,640
$1,500,000	$205	$2,461
$2,500,000	$342	$4,101

Universal Life Insurance Cost for Young Adults

Data filtered by:Results filtered by:

Age

Select

Age:20

Gender

Select

Gender:Female


$50,000	$4	$43
$100,000	$7	$86
$150,000	$11	$130
$200,000	$14	$173
$250,000	$18	$216
$300,000	$22	$259
$350,000	$25	$302
$400,000	$29	$345
$450,000	$32	$389
$500,000	$36	$432
$550,000	$40	$475
$600,000	$43	$518
$650,000	$47	$561
$700,000	$50	$604
$750,000	$54	$648
$800,000	$58	$691
$850,000	$61	$734
$900,000	$65	$777
$950,000	$69	$820
$1,000,000	$72	$863
$1,500,000	$108	$1,295
$2,500,000	$180	$2,159

Indexed Universal Life Insurance Cost for Young Adults

Data filtered by:Results filtered by:

Age

Select

Age:20

Gender

Select

Gender:Female


$50,000	$5	$64
$100,000	$11	$129
$150,000	$16	$193
$200,000	$22	$258
$250,000	$27	$322
$300,000	$32	$387
$350,000	$38	$451
$400,000	$43	$515
$450,000	$48	$580
$500,000	$54	$644
$550,000	$59	$709
$600,000	$64	$773
$650,000	$70	$837
$700,000	$75	$902
$750,000	$81	$966
$800,000	$86	$1,031
$850,000	$91	$1,095
$900,000	$97	$1,160
$950,000	$102	$1,224
$1,000,000	$107	$1,288
$1,500,000	$161	$1,933
$2,500,000	$269	$3,221

Life Insurance Quotes for Young Adults

The cost of life insurance for young adults depends on your age, health and coverage amount. Our interactive calculator below lets you compare rates from top-rated insurers instantly.

We’ll give you a suggested amount of cover to buy in just 3 easy steps. — it's free, no personal information required, no spam.

High

Average

Low

Rates updated:

Oct 10, 2025

Best Type of Life Insurance for Young Adults

Term and permanent (which includes whole and universal) policies are the two main types of life insurance. The main differences between them are related to duration and cost. Term life insurance offers temporary financial protection, making it more affordable. In comparison, permanent policies guarantee coverage for your entire life. As a result, your premiums will be higher.

Looking at specifics, other notable differences set these two apart.


Guarantees a Death Benefit	Yes	Yes
Allows Access to Living Benefits	Limited (accelerated death benefit only)	Yes (multiple options)
Coverage Length	Yearly for 5 ,10, 15, 20, 25 or 30 years	Your entire life
Premium Cost	Affordable	More expensive than term policies
Change in Premium Cost	May remain the same or may increase over time, depending on what type you get	Remains the same over time
Earns Cash Value	No	Yes, and it accumulates over time
Eligible for Dividends	No	Yes, but it depends on the insurer
Allows for Withdrawals While Policy Is in Effect	No	Yes. Loans are also allowed but will cause the death benefit to be reduced if unpaid
Requires a Health Exam	Depends on the insurer	Depends on the insurer

Whether a term or permanent life insurance policy is best for young adults depends on your circumstances. If you have a long-term dependent, such as a sibling with disabilities, buying a permanent life insurance policy may be a better option.

By contrast, a term life plan may suffice if you have a young family or are paying off a mortgage. Expenses related to these situations tend to diminish over time; you may even reach a point when you no longer need coverage.

BEST TERM POLICY LENGTH FOR YOUNG PEOPLE

Choose term life insurance to secure lower rates while you're young and healthy. Select a plan that lasts 20 or 30 years to protect your loved ones from financial challenges if you pass away unexpectedly. Term life insurance ensures that long-term expenses like mortgages or college tuition fees are covered.

Why Get Life Insurance at a Young Age

Buying life insurance while young helps you provide your family with financial stability and cover costs for others, such as grandparents with severe illnesses, parents about to retire or younger siblings going off to college.

Young adults benefit from life insurance in several key ways:

You’ll get lower rates

Life insurance companies calculate premiums based on several factors, including age. The younger you are when you purchase a policy, the lower the monthly cost.

You'll be in better health

You'll likely have fewer health conditions in your 20s than in your 50s. Term life policyholders are more likely to outlive their coverage, which results in insurers offering lower rates. Permanent life insurance policyholders get the same premium benefits even though their policy won't expire.

Your policy has more time to earn

Permanent life insurance ensures that your family receives your death benefit regardless of when you die, plus provides a feature that term life plans don't: a savings account, known as cash value.

All permanent life insurance plans allow your policy to accumulate cash value. Once you have enough cash value, you can use cash value in several ways while you're still alive:

Boost your death benefit, which means your beneficiaries receive a higher amount when you die.
Pay for your life insurance premiums, which allows you to use your money for other expenses.
Take out a loan or make a withdrawal.

NO-MEDICAL EXAM LIFE INSURANCE FOR YOUNG ADULTS

Young adults may qualify for life insurance without medical exams. No-exam policies approve coverage based on health questionnaires rather than blood tests or physicals, with decisions typically made within 24 to 48 hours. No-exam policies appeal to those who want fast, hassle-free coverage. But coverage amounts are often lower and premiums are higher than fully underwritten policies. Insurers also may decline applicants with certain health risks.

Best for: Healthy young adults who want instant approval

How Much Life Insurance Young Adults Need

Determine your ideal coverage by considering three key factors: debt coverage, income replacement and future expenses.

Start by adding up all outstanding balances, including student loans, credit cards, car loans and mortgage payments. Your policy should cover these obligations so family members aren't responsible for your debts. Next, calculate income replacement based on your situation. Then, add future expenses like children's college education, funeral expenses and emergency funds for your family.

Use our calculator to get your personalized coverage recommendation in seconds.

Coverage Considerations by Life Stage

Your life insurance needs change as you move through different stages of life. Types of coverage that make sense for each situation include:

College Students (Ages 18 to 22)

Coverage at this stage helps with final expenses and any private loans that have co-signers. Federal student loans are forgiven at death, so families don’t inherit them. Premiums for young adults are generally very low, making it affordable to lock in a small policy early.

New Graduates (Ages 22 to 26)

Life insurance at this stage can address student loans, credit card balances and provide short-term support for family members. If you're living with parents or have a partner, life insurance helps cover immediate obligations. Convertible term policies are a strong choice because they let you increase coverage later without another medical exam.

Early Career Professionals (Ages 25 to 30)

Coverage at this stage should focus on income replacement and mortgage protection. If you're single with no dependents, a smaller policy that pays for debts and final expenses is usually sufficient. Consider expanding coverage as your career advances and financial responsibilities grow.

New Parents (Ages 25 to 35)

Life insurance should equal roughly 10 to 12 times annual income to cover childcare, education costs and income replacement for 20 or more years. Each parent benefits from having their own policy. Term life insurance is usually the most cost-effective option during these high-expense years.

Best Life Insurance for Young People: Bottom Line

Buying life insurance in your 20s or 30s is a smart financial move, offering lower premiums and greater flexibility.

Legal & General and Assurity stand out for their affordability and comprehensive coverage options, making them excellent choices for young adults seeking term policies. North American and Columbus excel in providing whole life and universal life policies, catering to those looking for permanent coverage. Ethos offers the best indexed universal life insurance policies. For young adults who prioritize affordability, Lincoln Financial is the best life insurance company.

By securing a policy early, you can lock in lower rates and ensure financial protection for your future.

Life Insurance for Young Adults: FAQ

We answer common questions about getting life insurance as a young adult. Although life insurance may seem unnecessary right now, this financial safeguard will protect your loved ones if you die unexpectedly.

What is the best life insurance for young adults?

The best life insurance for young adults is usually affordable term life insurance, which offers straightforward coverage at a lower cost. For those who want lifelong protection, permanent policies such as whole and universal life are available, though they have higher premiums.

Young adults interested in both long-term protection and potential cash value growth may consider indexed universal life (IUL), which ties cash value performance to a market index. Buying early helps lock in lower premiums and ensures coverage keeps pace with future financial needs.

Why buy life insurance when you are young?

Buying life insurance at an early age offers several benefits. You're more likely to be in better health, which lets you get lower rates. If you choose a permanent life plan, buying life insurance earlier also gives you more time to let your policy earn cash value.

What is the best life insurance company for young adults in 2025?

The best insurer for young adults varies depending on your profile. Assurity and Legal & General provide the best term life insurance for young adults. For permanent policies, the best providers are North American, Columbus and Ethos.

Do young people need life insurance?

Young people need life insurance if they have dependents who rely on their financial support. For young adults, dependents could include their children, siblings who are still in school or parents who are nearing retirement.

Is life insurance cheaper when you are younger?

Yes, life insurance rates are more affordable when you purchase your policy at a young age. If you choose a term life plan, you're more likely to outlive the policy. You'll also be less likely to have health conditions, which leads to insurers offering lower rates.

What is the cheapest life insurance company when you are young?

The most affordable life insurance company for young adults depends on certain factors. According to MoneyGeek's analysis, Lincoln Financial has the lowest monthly rates at $14 for women and $18 for men.

Our Review Methodology

Finding the right life insurance in your 20s feels overwhelming when you're already juggling student loans, career changes and maybe starting a family. That's why we built our research specifically around what matters most to young adults: affordable premiums that won't strain your budget and straightforward coverage that grows with your life.

Our Scoring Framework

We evaluated insurers using three key factors, weighted to reflect young adult priorities:

Affordability (50%)
Customer Experience (30%)
Coverage Options (20%)

Each company earned up to five points in each category. We then converted these category scores into a weighted overall score out of 100 points using our percentage weightings.

Sample Profile Details

We gathered 248,399 life insurance quotes using a standard young adult profile:

Ages 20–29 across different life stages
Nonsmoker
5'9", 160 pounds
Average health level
Average weight
Multiple coverage amounts from starter policies to family protection
Various term lengths to match different financial timelines

We modified this profile by age, gender, health rating, and location to capture rate variations across the young adult demographic. This approach revealed pricing patterns that help predict what you'll actually pay.

We analyzed customer complaint data from the National Association of Insurance Commissioners (NAIC), AM Best financial strength ratings, and years in business to identify companies that consistently serve younger customers well. We also evaluated digital tools and payment flexibility since young adults typically prefer online management and multiple payment options.

Why This Methodology Works for Young Adults

Traditional life insurance research often focuses on older buyers with established careers and families. Our approach prioritizes the financial realities of your 20s: tighter budgets, changing circumstances and the need for coverage that won't become unaffordable as you build your career.

This research design helps you find coverage that protects your financial future without derailing your current budget or limiting your options as your needs evolve.

Young Adult Life Insurance: Related Articles

About Mark Fitzpatrick

Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.

Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!

Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.

Read Full Bio »

Best Life Insurance for Young Adults: Top-Rated Companies in 2025

Key Takeaways

Compare Life Insurance Rates

Best Life Insurance Companies for Young Adults

Best Term Life Insurance for Young Adults

Legal & General

Assurity

Best Permanent Life Insurance for Young Adults

Ethos

North American

Columbus

Most Affordable: Lincoln FInancial

Lincoln Financial

Best Life Insurance Policy for Young Adults: Buying Guide

How to Get the Best Life Insurance for Young Adults

Get Quotes and Compare

Complete the Application

Take the Medical Exam

Wait for Underwriting Review

Activate Your Policy

Average Cost of Life Insurance for Young Adults

At a Glance: Life Insurance Costs

Life Insurance Quotes for Young Adults

Life Insurance Calculator

Your Next Step:

Best Type of Life Insurance for Young Adults

BEST TERM POLICY LENGTH FOR YOUNG PEOPLE

Why Get Life Insurance at a Young Age

You’ll get lower rates

You'll be in better health

Your policy has more time to earn

NO-MEDICAL EXAM LIFE INSURANCE FOR YOUNG ADULTS

How Much Life Insurance Young Adults Need

How Much Life Insurance Do You Need?

How Much Life Insurance Do You Need?

Coverage Considerations by Life Stage

College Students (Ages 18 to 22)

New Graduates (Ages 22 to 26)

Early Career Professionals (Ages 25 to 30)

New Parents (Ages 25 to 35)

Best Life Insurance for Young People: Bottom Line

Compare Life Insurance Rates

Life Insurance for Young Adults: FAQ

What is the best life insurance for young adults?

Why buy life insurance when you are young?

What is the best life insurance company for young adults in 2025?

Do young people need life insurance?

Is life insurance cheaper when you are younger?

What is the cheapest life insurance company when you are young?

Our Review Methodology

Young Adult Life Insurance: Related Articles

Best Age to Get Life Insurance

Best Life Insurance Companies

Best Life Insurance for Smokers in 2025

Best Life Insurance for 30-Year-Olds

Best Life Insurance Companies for 40-Year-Olds

Best Life Insurance for 50-Year-Olds

Best Life Insurance Companies for Seniors

Cheapest Life Insurance Companies of 2025

How Much Does Life Insurance Cost?