Yes, if you have dependents, substantial debt or want to lock in a low rate by getting coverage while you're healthy. Your 20s is the easiest time to get approved, with many insurers skipping medical exams entirely. You can find cheap life insurance in your 20s (as low as $4 monthly for a $100,000 10-year term policy). Health problems like high blood pressure and obesity double between your 20s and 40s, making coverage harder to qualify for and more expensive as you age.

Getting insured early has major advantages: lower rates, easier approval and no medical exams. Here’s why getting covered early pays off:

Life insurance is cheapest when you're young and healthy. Life insurance premiums, or the monthly cost, increase as you age, sometimes dramatically. Locking in a rate in your 20s can save you thousands over the life of the policy. The table below shows how much more you might pay by waiting. A 25-year-old could pay $12,000 less than a 45-year-old for the same $500,000 20-year term policy.

*The rates above are based on average term life insurance quotes for male nonsmokers with average weight and health ratings. Actual rates may vary depending on coverage amount, policy type, specific age, gender, lifestyle, health and location.

Buying life insurance in your 20s makes getting approved easier. Insurance companies don't share exact denial numbers, but nearly 90% of insurers use computer systems that favor young applicants. Your 20s are usually your healthiest years. That gives you an advantage, as insurers offer the best rates to applicants without pre-existing conditions. As you age, medical issues become more likely and can push premiums higher or lead to denials.

Health issues that can raise your rates or lead to denial include:

• High blood pressure and heart disease: These conditions increase your risk for serious complications.
• Diabetes: Insurers view diabetes as a long-term health risk that affects your life expectancy and increases costs.
• Cancer: Having cancer can result in higher premiums or coverage denial, especially if you're currently receiving cancer treatment.
• Obesity: Obesity is linked to heart disease, diabetes and other health problems. Being overweight can lead to higher premiums or make you uninsurable.
• Depression and anxiety: Mental health conditions may increase your rates, particularly if you've been hospitalized or have had suicide attempts.

You can still get covered with these conditions, but it can be tougher. Buying in your 20s helps you lock in coverage before these conditions develop and before they impact your rates or eligibility.

Most insurers offer an accelerated underwriting process for young applicants, allowing coverage up to $3 million without medical exams. This simplified process can approve your application in days rather than weeks. Compare this to applicants over 40 needing medical screening for coverage above $100,000.

A medical exam often includes height and weight measurements, blood pressure checks, blood and urine tests, and sometimes an EKG or stress test, depending on age and coverage amount. The older you get, the more hurdles insurers place between you and affordable coverage.

Many policies purchased in your 20s include guaranteed insurability options, allowing you to increase coverage later without new medical exams. This means you can start with basic coverage now and add more when you get married, have children or buy a home. You're locking in your right to buy more insurance at healthy-person rates, even if you develop health problems later.

Most term policies also include conversion options, letting you upgrade to permanent coverage (usually whole life insurance policies explained below) without proving insurability again. You must get these riders when you first buy your policy. You can usually only get convertible life insurance up to a certain age, and policies often have an expiration age when conversion is no longer allowed, making your 20s the best time to get this option.

While securing life insurance for young adults can provide major advantages, consider some potential drawbacks. Weigh these cons against the benefits of young adult life insurance to determine if your 20s are the best time to get a policy.

• Financial constraints: Allocating funds for life insurance premiums as a young adult might strain budgets, especially when juggling other financial priorities like student loans.
• Lower financial obligations: Many in their 20s have fewer dependents, undermining the immediate need for coverage. If you truly have no financial obligation and don't expect to soon, buying life insurance today doesn't make sense.
• Opportunity costs: The money spent on premiums can yield higher returns if invested elsewhere during these early earning years.

Evaluating these factors will ensure that your decisions are well-informed and aligned with your long-term financial planning.

Certain life events and transitions in your 20s will increase the need for life insurance:

• Getting married: Shared financial obligations mean your spouse could struggle without your income. Coverage helps pay mortgages, living costs and joint debts.
• Starting a family: Children create instant financial responsibility. Life insurance ensures they'll have money for childcare, education and daily expenses if you're not there to provide.
• Homeownership: Buying a home is a major financial commitment that typically involves a mortgage. That 30-year mortgage doesn't disappear if you do. Life insurance protects your family from losing their home during an already devastating time.
• Accumulating debt: If you have significant debt, such as student or personal loans, life insurance can prevent this burden from falling on your loved ones. Some debts disappear when you die, but others get passed to co-signers or taken from your estate. If your parents co-signed your student loans, they become responsible for the remaining balance without life insurance protection.
• Starting a business: If you're an entrepreneur or business owner, your sudden absence could have serious consequences for your business and any business partners. Life insurance for young professionals can provide the funds to help keep the business running.
• Supporting aging parents or siblings: Life insurance for young people who financially support aging parents or siblings can provide the funds to continue that support even if the policyholder is no longer around.
• Becoming a single parent: As a single parent, you’re your child's primary or perhaps sole provider. Getting life insurance under 30 or even in your 20s can provide a financial safety net for your children’s future.

Each of these life events adds financial obligations that could become burdensome to others if you suddenly pass away. Life insurance provides a financial safety net, ensuring that these responsibilities are taken care of if you die.

* For comparison purposes, we used average quotes for 25-year-old male nonsmokers with average weight and health ratings. Coverage amount for both policies is $500,000. The term length is 20 years.

Buying life insurance in your 20s involves more than just finding any policy. You need coverage that fits your needs and situation. Here's how to find the right policy:

• Determine your needs: Calculate what you want your policy to achieve and what it should pay for if you die. Consider debts, dependents and long-term goals. A common rule suggests 10–12 times your annual income.
• Compare different policies and companies: Research different insurers and policy types. Look for companies with strong financial ratings and competitive pricing.  See our guide to the best life insurance companies and cheapest policies. Comparison shopping among three to five companies for the same policy is the best way to get lower prices.
• Complete an application: After choosing a policy, you'll need to fill out an application. This usually involves providing personal information and undergoing a medical exam if required.
• Review and finalize: Carefully review all the terms and conditions before finalizing the policy. Ensure everything aligns with your needs and expectations.
• Make regular payments: After purchasing, you'll need to make regular premium payments to keep the policy active. Timely payments ensure continuous coverage.

Since you're early in your career, don't just look at your current income and debts when calculating coverage. Your salary will likely double or triple over the next decade, and your responsibilities will grow.

Consider these factors when determining the right life insurance coverage amount:

• Outstanding debts: Student loans, car payments and credit cards
• Future income replacement: Think about what your income might be in five to 10 years, not just today's entry-level salary
• Anticipated major expenses: Future mortgage payments, children's education costs, family living expenses
• Final expenses: Funeral and burial costs typically range from $7,000–$15,000

A simple method for determining coverage in your 20s is the DIME formula: Debt + Income replacement + Mortgage + Education costs.

Start by adding your current debts, then multiply your expected peak income by 10-15 years (to replace future earnings), add anticipated mortgage costs, and include estimated education expenses for future children.

Determine your coverage needs: Calculate your personalized coverage needs in just a few easy steps with our free life insurance calculator.

Buying life insurance in your 20s can be a smart long-term decision, especially if you're planning for major life events like marriage, parenthood or homeownership. Securing a policy early can lock in low premiums, protect your loved ones and safeguard your future financial obligations. If you're healthy and looking ahead, acting now can save you money and stress down the road.

Deciding whether to buy life insurance in your 20s involves considering various factors. Below are answers to some frequently asked questions to assist you in making well-informed choices.

Shopping for life insurance in your 20s means balancing tight budgets with long-term financial planning. Most young adults focus on immediate expenses like student loans and rent, but early coverage can lock in lower rates for decades. We designed our research around the financial realities and buying preferences of 20-somethings to help you determine if early coverage makes financial sense.

For cost comparison, we collected quotes for 25-, 35-, 45-, 55- and 65-year-old male nonsmokers with average weight and health ratings.

Sample Profiles and Quote Collection

We also determined the best life insurance companies for young adults to help you choose the right policy for your needs. To do this, we gathered 1,488 life insurance quotes using standardized profiles of healthy young adults across ages 20 to 29. Our sample profiles represented nonsmokers with various heights and weights within normal ranges, all with "average" health ratings.

We tested different scenarios by adjusting:

• Age variations within the 20s decade
• Gender differences
• Coverage amounts

Why This Approach Works for Young Adults

Unlike methodologies focused on older buyers with complex family situations, we emphasized factors that actually matter when you're starting out:

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

What We Measured

• Online quote costs for different coverage amounts
• Financial strength using AM Best and/or BBB ratings and company longevity
• NAIC complaint index data, J.D. Power ratings and other customer reviews
• Buying process support, including digital tools and simplified applications
• Availability of different types of life policies and riders that benefit people in their 20s