Best Life Insurance for 30-Year-Olds in January 2024

Although there is no specific age at which someone should get life insurance, note that the older you get, the more expensive your insurance premiums will be. This is because older adults are more lilkely to have a complicated medical history and a shorter lifespan. Nationwide offers the best life insurance for 30-year-olds, providing several types of policies and flexible premiums. It has an overall MoneyGeek score of 97.

The best option may vary depending on your needs and preferences. State Farm ranked the highest for a whole life insurance policy or no medical exam life insurance. GEICO is the top choice for 30-year-olds who prioritize customer satisfaction.

Nationwide secures a MoneyGeek score of 97, making it the overall winner among life insurance companies offering policies to 30-year-olds. The high rating reflects the company's robust offerings and seamless buying process. A 10-year term policy with a $250,000 coverage amount costs an average of $12 monthly.

For those seeking higher coverage, Nationwide is also the top choice. It excels with a score of 98 for this category, offering a $1 million policy at $23 per month on average.

State Farm stands out among companies offering whole life insurance and no medical exam policies for 30-year-olds, scoring 99 in both categories.

GEICO, with a MoneyGeek score of 97, stands out for exceptional customer satisfaction. This can be important for 30-year-olds valuing responsive and reliable service. The company offers life insurance at $10 monthly for a $250,000, 10-year term policy.

MoneyGeek reviewed average costs for coverage amounts of $250,000, $500,000 and $1 million for 30-year-old male and female policyholders. Given women's longer life expectancy, note that quotes for females are generally lower than those for men.

Smoking can increase your risk of developing certain diseases. As a result of the increased mortality risk, even the cheapest life insurance policies for smokers can cost more than double what a nonsmoker would pay.

The tables below illustrate the potential rate variations for smokers.

The younger you acquire life insurance, the less it will cost because younger people are generally healthier and have longer lifespans than older age groups. As you age, you may develop health issues that increase the cost of insurance or preclude you from getting the policy you want. It may be best to purchase an insurance policy when you're in your 30s.

The tables below illustrate how significantly life insurance rates change as you age.

Life insurance policies for a 30-year-old are available in two forms: term insurance and permanent insurance.

Permanent life insurance is usually more expensive than a term insurance policy. However, the ideal policy for you is determined by your requirements, age and medical history.

A 30-year-old person indeed pays significantly less for life insurance than someone older. If you still need to purchase insurance or your health history isn't flawless, there are still methods to save money on your coverage.

If you are a 30-year-old looking for a life insurance policy, the following suggestions can help you save money on insurance premiums:

As a 30-year-old, you may have questions about purchasing a life insurance policy. Understanding the answers to some common questions about life insurance can help you find the right policy for your needs.