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Compare life insurance for 30-year-olds
Get ahead of the life insurance game by applying when rates are still low.
Narrow down life insurance companies by coverage level, term length, riders offered and more to get a quote.
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Life insurance companies reserve their best rates for young, healthy applicants. As a 30-year-old, forward thinking pays off: You’ll not only lock in a low premium, but you may be able to opt for higher coverage for just a few extra dollars a month.
What’s the best life insurance policy for 30-year-olds?
The best life insurance for people in their 30s is typically term life, which covers you for a set period of time like while your family is young or you have a mortgage. Otherwise, a permanent policy offers lifelong coverage while building savings.
We recommend: Term life insurance
Term life insurance is the simplest and most straightforward type of coverage, and a common choice for 30-year-olds. Your premiums stay the same for the life of the policy, which makes life insurance easier to budget for. Although you’re young and the odds of you outliving your policy are high, a term life policy can take care of your loved ones if you die unexpectedly.
Whole life insurance for 30 year olds
If life insurance is a major part of your financial plan, you might want to explore a permanent policy, like whole life. This type of coverage builds cash value over time and pays out a death benefit when you die. It typically costs two to four times more than term life, but most 30-year-olds can still access low, preferred rates.
Life insurance rates for people in their 30s
The average cost of life insurance for a $500,000, 20-year term policy is $22.54 for a healthy 30-year-old man, and $19.11 for a healthy 30-year-old woman. And, the average cost goes up less than 10 bucks by the time you reach 39 years old.
| Age | M/W | $250,000 policy | $500,000 policy | $1,000,000 policy |
|---|---|---|---|---|
| 30 | Man | $14.89 | $22.54 | $36.29 |
| 30 | Woman | $13.06 | $19.11 | $29.32 |
| 31 | Man | $15.09 | $22.82 | $36.96 |
| 31 | Woman | $13.24 | $19.32 | $30.37 |
| 32 | Man | $15.31 | $23.03 | $37.45 |
| 32 | Woman | $13.48 | $19.61 | $31.07 |
| 33 | Man | $15.52 | $23.41 | $38.03 |
| 33 | Woman | $13.68 | $19.90 | $31.91 |
| 34 | Man | $15.71 | $23.66 | $38.67 |
| 34 | Woman | $13.99 | $20.32 | $33.03 |
| 35 | Man | $16.13 | $24.34 | $39.92 |
| 35 | Woman | $14.28 | $20.81 | $34.34 |
| 36 | Man | $14.48 | $25.61 | $42.66 |
| 36 | Woman | $14.88 | $22.01 | $36.28 |
| 37 | Man | $14.54 | $27.08 | $45.77 |
| 37 | Woman | $15.56 | $23.23 | $38.67 |
| 38 | Man | $14.67 | $28.76 | $48.93 |
| 38 | Woman | $16.40 | $24.75 | $41.61 |
| 39 | Man | $14.75 | $30.59 | $52.59 |
| 39 | Woman | $17.21 | $26.27 | $44.11 |
What’s the cheapest life insurance for 30-year-olds?
We averaged rates for a 500k, 20-year term policy for healthy people 30 to 39 years old with 13 top life insurance companies and found that average rates with Banner Life are the cheapest for both men and women in their 30s.
| Company | Man | Woman |
|---|---|---|
| AIG Life Ins (American General) | $22.26 | $18.95 |
| Banner Life (Legal & General America) | $22.13 | $18.69 |
| Cincinnati Life | $25.12 | $22.53 |
| Equitable | $26.49 | $22.76 |
| John Hancock | $28.72 | $26.90 |
| Securian (Minnesota Life) | $24.38 | $20.58 |
| Pacific Life | $22.30 | $18.90 |
| Principal | $22.37 | $19.09 |
| Protective | $22.22 | $18.79 |
| Prudential | $38.90 | $31.81 |
| SBLI | $23.28 | $19.01 |
| Transamerica | $22.32 | $18.83 |
| United of Omaha | $26.92 | $23.10 |
Rates are provided by Quotacy based on 20 year term policy, and valid as of April 2021 in all states except Montana.
How much life insurance do I need in my 30s?
To figure out how much life insurance to buy, consider your financial needs now and in the near future. Then, aim to take out a policy with a coverage amount to match that you can afford.
Tally up the following:
- Outstanding debt — like student loans, credit cards and a mortgage
- Financial dependents — such as a spouse or children
- Assets — like a home
Then, subtract the following:
- Savings — consider any savings accounts and other assets
- Other income — such as any income your loved ones will have/li>
It’s a good idea to review your coverage as your circumstances change. Say you upgrade your home, have a child or get a hefty raise — you’ll want to be sure your life insurance policy accounts for that.
Bottom line
As someone in your 30s, you may have marriage, houses, children, businesses and building your career on your mind. All of these things are huge financial responsibilities, and life insurance can help you prepare for them while providing peace of mind that your family and assets will be taken care of. The good news is, you can score a policy at a cheap rate while you’re still young and healthy.
While you can get cheap rates, it’s still a good idea to compare life insurance companies for your best option.
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