Updated: September 15, 2025
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Buying life insurance at a young age means lower premiums, better coverage options, and easier approval.
Pacific Life is the best term life insurance company for young adults, with average rates of $19 per month for women and $22 per month for men.
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 ranks first for whole and universal plans for young adult men. Ethos earned the highest MoneyGeek score for indexed universal life insurance.
Protective has the lowest average rate for young adult women, costing $18 per month or $214 per year. CoreBridge is the best cheap life insurance company for young adult men, averaging $22 per month or $264 per year.
Pacific Life is the best term life insurance provider for young adults, earning MoneyGeek scores of 97 (women) and 98 (men) for its balance of affordability and quality. 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 18 to 35.
The table highlights MoneyGeek's top picks for different types of life insurance:
Term | Young Adult Women | Pacific Life | 97 | $19 | $231 |
Term | Young Adult Men | Pacific Life | 98 | $22 | $266 |
Whole | Young Adult Women | North American | 100 | $220 | $2,636 |
Whole | Young Adult Men | Columbus | 93 | $258 | $3,099 |
Universal | Young Adult Women | North American | 100 | $106 | $1,275 |
Universal | Young Adult Men | Columbus | 85 | $120 | $1,445 |
IUL | Young Adult Women | Ethos | 100 | $133 | $1,591 |
IUL | Young Adult Men | Ethos | 100 | $158 | $1,899 |
Best Cheap | Young Adult Women | Protective | 96 | $18 | $214 |
Best Cheap | Young Adult Men | CoreBridge | 87 | $22 | $264 |
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.
Pacific Life ranks as the best term life insurance provider for young adults, offering a balance of affordability and flexible coverage. Pacific Life earned a MoneyGeek score of 97 for women and 98 for men, with average monthly costs of $19 for women and $22 for men.
Coverage is available from ages 18 to 75, with limits up to $10 million and accelerated underwriting options up to $3 million. Young adults also get riders such as child term, waiver of premium and accidental death benefits, making Pacific Life a strong fit for early financial protection. Pacific Life's accelerated death benefit rider is included at no additional charge for terminal illness.
North American ranks as the top choice for young adult women seeking whole life insurance, combining affordability, strong customer satisfaction and long-term security. With an average monthly rate of $220 and a MoneyGeek score of 100, North American offers lifetime coverage at competitive pricing. North American's financial strength, backed by an A+ AM Best rating, provides added reliability.
Though whole life applications require working with an agent and quotes aren't available online, North American delivers dependable coverage at one of the lowest costs for young adult women.
Columbus ranks as the best provider of whole life insurance for young adult men, combining competitive pricing with strong financial stability. Columbus earned a MoneyGeek score of 93, with an average monthly rate of $258.
Policies are available across most of the U.S., excluding New York, and include the accelerated death benefit rider at no added cost. With reliable coverage and an A+ AM Best rating, Columbus is a strong choice for young men looking to secure lifelong financial protection at a consistent price.
North American is the leading provider of universal life insurance for young adult women, earning a perfect MoneyGeek score of 100. With average monthly rates of $106, it delivers affordability while offering flexible options to fit long-term financial goals.
Policies allow for level or increasing death benefits, and riders such as accidental death, children’s term, guaranteed insurability and waiver of monthly deductions add meaningful customization. While online quotes are limited to term life, North American’s strong financial foundation and competitive pricing make it an excellent choice for women seeking adaptable universal life coverage.
Columbus is the best choice for universal life insurance for young adult men. It balances affordability with reliable policy features. It holds a MoneyGeek score of 85 and offers coverage at an average monthly rate of $120.
The company's Voyager Universal Life policy includes a lifetime no-lapse guarantee, ensuring ongoing financial protection if premiums are paid. Explorer Plus Universal Life expands flexibility with options like the Overloan Protection Rider and guaranteed death benefits for the first 10 years.
Ethos ranks as the top provider of indexed universal life insurance for young adults, offering a seamless online process and strong policy features. With a MoneyGeek score of 100, average monthly rates start at $133 for women and $158 for men, making Ethos both accessible and affordable.
The fully digital application allows most young adults to secure coverage in minutes. Free riders such as accelerated death benefits, lifetime income support and estate planning tools further enhance the policy, making Ethos a flexible and modern option for lifelong financial protection.
Protective stands out as the best choice for young adult women looking for low-cost life insurance, with an average monthly premium of $18. Backed by more than a century of industry experience, the company offers reliable term coverage that can later be converted to permanent insurance without a new exam if done before age 71.
Policies also include an accelerated death benefit rider at no additional cost, giving policyholders extra value. With affordable pricing and an A rating from AM Best, Protective delivers dependable coverage that fits the budgets of young adults.
CoreBridge is the best option for young adult men seeking affordable life insurance, with an average monthly premium of $22 for term policies. The company earned a MoneyGeek score of 87 and provides coverage for ages 18 to 75, with limits reaching $10 million.
Policies include an accelerated death benefit for terminal illness at no additional cost, offering valuable built-in protection. While CoreBridge’s customer satisfaction ranking trails behind some competitors, its combination of low cost and strong financial stability makes it a top pick for men focused on budget-friendly term coverage.
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.
Getting life insurance involves five straightforward steps:
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.
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.
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.
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.
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.
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:
| 10 years | $17 | $203 |
| 15 years | $21 | $256 |
| 20 years | $26 | $315 |
| 25 years | $36 | $439 |
| 30 years | $43 | $521 |
| 35 years | $54 | $643 |
| 40 years | $77 | $916 |
*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.
| $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 |
*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.
| $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 |
*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.
| $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 |
*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.
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.
Rates updated:
Sep 16, 2025
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.
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.
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:
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 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.
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:
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
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.
Your life insurance needs change as you move through different stages of life. Types of coverage that make sense for each situation include:
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.
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.
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.
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.
Buying life insurance in your 20s or 30s is a smart financial move, offering lower premiums and greater flexibility.
Pacific Life stands out for its affordability and comprehensive coverage options, making it an excellent choice 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, Protective and CoreBridge are the best life insurance companies.
By securing a policy early, you can lock in lower rates and ensure financial protection for your future.
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.
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.
The best insurer for young adults varies depending on your profile. Pacific Life provides the best term life insurance for young adults. For permanent policies, the best providers are North American, Columbus and Ethos.
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.
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.
The most affordable life insurance company for young adults depends on certain factors. According to MoneyGeek's analysis, Protective has the lowest monthly rate for women, $18, while CoreBridge is the cheapest option for men, $22 per month. These rates are based on term policies for applicants 20 to 29 years old.
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:
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 1,488 life insurance quotes using a standard young adult profile:
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.
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.
