Best Life Insurance for College Students (2026)

Protective, Assurity, Pacific Life, Lincoln Financial and Ethos are the best life insurance companies for college students. The top choice depends on your needs.

Rates are for healthy, 20-year-old nonsmokers of average height and weight with a 20-year term policy at $500,000 coverage.

Life insurance costs for college students are affordable because young adults have a lower mortality risk than older age groups. Your final premium depends on age, health, gender, coverage amount and term length. Life insurance provides full death benefit coverage without deductibles, unlike other insurance types.

Compare average rates for college students based on MoneyGeek's analysis of quotes from major insurance companies:

Rates based on MoneyGeek's analysis of quotes from 16 major insurance companies. Quotes are for our sample profile: 20-year-old nonsmoker with average health, height and weight. Actual rates will differ depending on your age, health, lifestyle and coverage needs. Contact insurance companies for personalized quotes.

Co-signed private student loans are the biggest reason many college students buy life insurance. Most federal loans disappear automatically when borrowers die, but private lenders may go after co-signers for full repayment.

Federal student loans end when the borrower dies. Your parents, spouse or estate owes nothing. The loan servicer cancels the debt after receiving a death certificate. Parent PLUS loans are discharged if either the parent borrower or the student dies, protecting your parent's other assets from loan collection.

Buying life insurance to cover federal student loans may not be ideal, since those debts are automatically discharged. Focus your coverage on private loans and other obligations that would burden your family. The automatic discharge applies to Direct Loans, Stafford Loans, Perkins Loans and PLUS Loans.

Private student loans originated before November 20, 2018 allowed lenders to pursue co-signers for repayment after the borrower's death. The Economic Growth, Regulatory Relief, and Consumer Protection Act changed this. Private lenders may not declare a loan in default or accelerate repayment solely due to the borrower’s death if the loan was originated on or after November 20, 2018 and has a co-signer.

The law doesn't require full loan discharge in all cases. It prevents automatic default or acceleration tied to death. Some private lenders still require repayment under normal terms rather than canceling the balance entirely.

Some older private loan agreements include co-signer clauses that trigger default if the primary borrower dies. The lender can demand immediate full repayment from the co-signer instead of continuing monthly payments. Check your loan agreement for co-signer release clauses or death acceleration provisions.

Protective, Assurity, Pacific Life, Lincoln Financial and Ethos have the best life insurance for college students. Term policies offer the most affordable coverage solution. No-exam approval is faster, but policies cost more than traditional policies.

Life insurance gives college students financial protection during high debt years. Compare quotes from at least three insurers and match your term length to your loan repayment timeline to find the best provider and policy.

Students typically carry limited savings, making affordable coverage a priority. We built our methodology around two practical realities: you need financial protection that fits a tight budget, and you want a straightforward buying process that doesn't require hours of research.

How We Scored Life Insurance Companies

We evaluated insurers using three weighted factors that reflect what matters most to students shopping for their first life insurance policy:

• Affordability (55%): We compared rates across providers for identical coverage amounts to identify the most budget-friendly options. Students often work part-time or rely on financial aid, so premium costs directly affect whether coverage fits your monthly expenses.
• Customer Experience (30%): We analyzed customer complaint data from the National Association of Insurance Commissioners (NAIC), J.D. Power customer satisfaction scores, A.M. Best financial strength ratings and online reviews. We also evaluated digital tools and payment flexibility since students typically prefer managing policies through apps rather than phone calls or in-person meetings.
• Coverage Options (15%): We examined plan types, coverage limits, age restrictions, term lengths, riders and customization options. Students benefit from flexible policies that adapt as your financial situation evolves after graduation.

Each company received up to five points per category. We converted those scores into a weighted total out of five points based on our percentages.

Sample Profile Details

We collected 248,399 life insurance quotes using a baseline student profile:

• 20 years old
• Nonsmoker
• Average health level
• Average height
• Average weight

We adjusted this profile by age, gender, tobacco use and health rating to capture rate variations across the student demographic. Our analysis included quotes for different term lengths and coverage amounts, revealing pricing patterns you'll encounter when shopping for your policy.