Updated: June 11, 2025
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Life insurance gets more expensive with age. Health changes can limit your options, and buying early locks in long-term savings.
Your age isn’t the only thing that matters. Big life changes like getting married, having kids, starting a business, or taking on debt are all signs it’s time to consider life insurance.
Term life is usually the most affordable option when you're young, while permanent life insurance may be better if you want lifelong coverage or plan to build cash value over time.
The best age to get life insurance is usually in your 20s or 30s, when you're young, healthy and premiums are at their lowest. Buying early locks in lower rates for the long term and gives you access to more policy options.
As you age, premiums increase and coverage may become harder to qualify for, especially if health issues arise. In the sections below, we break down how life insurance works at different ages and life stages so you can find the right time to buy based on your needs.
Your 20s and 30s are often the best time to buy life insurance. At this age, you're typically in good health, which means lower premiums and more flexible policy options, especially if you choose term life insurance.
Getting coverage in your 20s allows you to lock in rates before any health changes and build a safety net as your responsibilities grow. If you're planning for future milestones like starting a family or buying a home, it's smart to secure protection while costs are low.
Below, we break down the key advantages and potential drawbacks of getting life insurance while you're young:
Starting early gives you more control, more value and fewer barriers, and can make a major difference in both cost and coverage over time.
Your 40s and 50s are often a time of growing financial responsibility, from supporting children to planning for retirement. At this stage, life insurance decisions should balance affordability with long-term protection.
While term life policies may still be cost-effective, many people begin considering permanent life insurance for its lifetime coverage and cash value features. Checking whole life insurance rates by age chart and universal life insurance rates by age chart can help understand these policies' long-term value and cost.
As these charts demonstrate, permanent life insurance can offer both a safety net and a potential financial asset for the future. Additionally, they can help determine the best life insurance for 40-year-olds or the best life insurance for 50-year-olds.
Here are some pros and cons of buying life insurance in your 40s and 50s:
Whether you’re reassessing your existing coverage or buying for the first time, using age-based rate comparisons can help you secure the right policy without overpaying.
Life insurance over 60 often comes with fewer options and higher premiums, but it's still possible to secure meaningful coverage, especially for estate planning or final expenses. At this age, insurers place more weight on your health and financial profile, which makes choosing the right policy even more important.
For those with health issues or difficulty qualifying through traditional underwriting, guaranteed issue life insurance offers a no-exam option with a simplified application. While coverage amounts are smaller and premiums higher, it provides access to benefits when other policies may be out of reach.
If you're over 60, buying life insurance takes careful planning. But the right policy can still protect your legacy and provide peace of mind for your loved ones.
Getting life insurance while young often leads to lower premiums and better coverage options, capitalizing on good health and long-term planning. However, you should consider your unique financial situation, life stage and future needs.
Consulting with a professional may help tailor a policy that fits your individual circumstances, ensuring that you have the right coverage at the right time.
Beyond age, your life stage plays a major role in determining the type and amount of life insurance you need. As your responsibilities evolve, so do your financial risks, and your coverage should keep pace.
Below are key life milestones where getting life insurance makes sense, helping you protect what matters most at every stage.
Marriage brings shared financial goals and shared financial risk. Choosing the right policy ensures your spouse is protected from unexpected burdens like joint debts or lost income. Life insurance for couples helps build a secure foundation, giving both partners peace of mind about the future.
Having children adds long-term responsibilities like education, childcare and daily expenses. Life insurance creates a financial safety net, ensuring your children's needs are covered even if you're no longer there to provide for them.
Owning a business introduces new financial risks, from outstanding loans to dependent employees or partners. Life insurance can protect your business by covering debts, funding a buy-sell agreement or maintaining operations. It's a smart layer of protection for one of your most valuable assets.
Taking on significant debt like a mortgage or business loan means someone could be left responsible if you're gone. Life insurance helps ensure your debts don't become a burden on your family, preserving assets like your home and protecting loved ones from financial strain.
Choosing the right time to buy life insurance depends on more than just age. It also involves understanding your goals, the kind of coverage you need and what affects your rates. In this section, we break down the key factors that affect life insurance so you can make the right call.
Life insurance isn't one-size-fits-all. The right policy depends on your goals, budget and how long you want coverage to last.
Understanding the different types of life insurance can help you make a smarter decision, whether you're looking for affordable protection or a long-term financial tool.
This policy offers coverage for a set period, typically 10 to 30 years. If the insured dies during that term, the death benefit is paid to beneficiaries. Term life insurance is usually the most affordable option, ideal for families who want high coverage at low cost during peak financial years.
Permanent life insurance provides lifelong coverage and builds cash value over time. While more expensive, it can serve as a long-term financial asset, offering death benefits and potential savings growth. It's often used in estate planning or for those who want guaranteed coverage regardless of age or health changes.
When choosing between term and permanent life insurance, consider your age, budget and long-term needs. Reviewing a term life insurance rates chart or whole life insurance rates chart can show how costs compare by age. If you're exploring flexible, lifelong coverage, a universal life insurance by age chart is also worth reviewing.
Although life insurance is mainly used as a financial safety net to support loved ones after the policyholder dies, there are other ways a policy can help.
It can provide financial stability to your loved ones after you pass away, ensuring they can maintain their standard of living.
If you're a primary earner, life insurance can replace your income, helping your family meet financial obligations.
It can help settle outstanding debts like mortgages or loans, preventing financial strain on the family.
Depending on the policy, life insurance can contribute to children's education by ensuring that funds are available for schooling, college or specialized training.
It can support other long-term financial goals, such as retirement planning or investment growth.
Aside from determining the best age to get life insurance, there are other important considerations when shopping for a policy. Cost is one of them.
Several factors affect the cost of life insurance. Understanding these when choosing a life insurance policy can also help you decide on the best option for your needs and circumstances.
Here are some of the key factors that insurance companies check when evaluating life insurance applications:
Age is a fundamental factor in determining life insurance premiums. Younger individuals often receive lower premiums, as they are typically lower risk. As age increases, premiums tend to rise, reflecting the higher perceived risk associated with age-related health concerns.
Healthier people often receive lower premiums since they are lower risk to insure. Regular check-ups, a healthy lifestyle and the absence of chronic conditions can lead to more favorable rates, reflecting the lower likelihood of health-related issues.
Engaging in high-risk jobs or hobbies can increase premiums. Occupations involving heavy machinery, hazardous materials or extreme sports hobbies might lead to higher costs, as they increase the perceived risk to the insurer.
The choice between term or permanent policies influences costs. With their temporary coverage, term policies are generally more affordable, while permanent policies offer lifelong coverage and investment components, leading to higher premiums.
The amount of coverage you choose impacts your premiums. Higher coverage limits provide more substantial death benefits but lead to higher premiums. It's a balance between the financial protection needed and the budget considerations.
Where you live can influence insurance regulations and costs. Different states may have varying regulations, consumer protections and competitive landscapes, all of which can affect the pricing and availability of life insurance policies.
The cost of life insurance varies significantly based on these factors. For instance, a healthy person seeking a 10-year term life insurance policy with a coverage of $250,000 will find premiums differ notably by age. The average cost of life insurance at 30 is approximately $16 per month. In contrast, the average cost of life insurance at 40 rises to about $23 per month.
On this page, we explained how your age, life stage and financial responsibilities all play a role in determining the best time to buy life insurance. While your 20s offer the lowest rates, the right time to buy depends on when the need for coverage becomes real, whether that's marriage, parenthood or taking on major debt.
Choosing the right policy type and coverage amount based on your age and situation ensures you're protected without overpaying. Life insurance is about timing, purpose and long-term value.
Understanding the best age to get life insurance can be difficult. Here are answers to some common questions to help you better understand how life insurance works.
Generally, anyone with financial dependents, significant debts or long-term financial responsibilities should consider life insurance. It can provide financial security and protect loved ones or business interests in the event of an untimely death.
Starting young often leads to lower premiums, but individual needs and life stages vary; the right age to get life insurance can differ for each person. Assessing financial responsibilities, future family planning and budget considerations help determine the optimal age.
Changes might be possible depending on the policy type. Term life policies may allow conversion to permanent, while permanent policies might offer flexibility in investment options. Understanding these possibilities upfront helps select a policy that can adapt to changing needs.
Life insurance can be obtained through various channels, including insurance agents, financial planners or online providers. Each offers different products and services, allowing customization to suit individual needs, preferences and budget considerations.
Life insurance becomes necessary when you have dependents, have significant debts or wish to ensure financial stability for your loved ones, aligning with the specific life stage and your planning needs.
Even if you're single and without dependents, life insurance can still be beneficial. It can cover debts and funeral expenses or act as a financial tool for investment and savings, depending on the policy type. It's a versatile financial instrument that can serve various purposes beyond family protection.
Age, overall health, job and lifestyle, type of policy, coverage limit and location are all factors that influence life insurance premiums and coverage options. Understanding these factors allows informed decision-making, aligning the policy with individual circumstances and financial goals.
Yes, premiums typically increase with age, reflecting higher perceived risks associated with age-related health concerns. The older you are when purchasing a policy, the higher the premiums will likely be, making early planning advantageous.
Whole life insurance rates by age chart typically show that premiums do not increase with age once the policy is in force, offering consistent coverage and costs over time.
Yes, term life insurance rates by age indicate that premiums increase as you age, reflecting the higher risk of insuring older individuals, especially evident in 20-year and 30-year term life insurance rates by age.
Yes, securing life insurance in your 30s is wise as premiums are relatively low and financial obligations like mortgages and family care are increasing. It's often considered the best age to buy life insurance for long-term savings.
It depends. Term life insurance after 60 can be practical, especially if you have dependents or debts. It provides financial security without the investment component of permanent insurance.
Having life insurance at 25 can be beneficial. It allows you to lock in low premiums while you're likely in good health, offering financial security as your life evolves.
Generally, you can obtain life insurance at any age. Policies may be issued to juveniles as young as a few days old. However, there is often a life insurance policy age limit, typically around 75 to 85 years old, depending on the insurer and policy type.
Life insurance policies do not require a specific duration of ownership before they pay out upon the policyholder's death. However, most policies include a contestability period (commonly two years from the start of the policy) during which the insurance company has the right to investigate and possibly deny claims if fraud or misrepresentation is found in the application details. After this period, the policy is usually incontestable.
Why Trust MoneyGeek?
To evaluate the best time to buy life insurance, MoneyGeek analyzed 1,488 life insurance quotes across a wide range of ages and profiles. We also reviewed cost trends by age bracket, policy type, and provider to understand how age impacts premiums and coverage options.
Data Recency
All pricing and company data used in this guide was last updated in 2025.
How We Collected and Scored Data
MoneyGeek developed a scoring system to assess major life insurance companies based on five key factors: affordability, financial stability, customer satisfaction, buying experience, and product offerings. We only included companies with broad national availability and the ability to generate quotes online.
Our Weighting System
Customer Profile and Quote Sampling
Our standard profile was a 40-year-old male, non-smoker, in excellent health, 5'11", 175 lbs. We modified this profile by age, gender, health status, and location to compare how quotes and coverage options change over time. Term lengths and coverage amounts were also varied to reflect a range of buyer needs.
How We Interpreted the Data
We used patterns in the quote data and policy structures to evaluate how age impacts access to term, whole, and guaranteed issue policies — and how those options shift as you age. This helped inform our recommendations for the best age ranges to purchase coverage.
About Melissa Wylie
Melissa Wylie is the Content and SEO Manager at MoneyGeek, with nearly a decade of editorial experience and six years of work in financial content focused on small businesses. She previously held SEO positions at Bankrate and LendingTree, with bylines on ValuePenguin and MagnifyMoney.
Wylie has a journalism degree from the University of North Texas. Her strong foundation in journalism helps her craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.
