Best Life Insurance for 30-Year-Olds in October 2024

Although there is no specific age at which someone should get life insurance, note that the older you get, the more expensive your insurance premiums will be. This is because older adults are more likely to have a complicated medical history and a shorter lifespan. Nationwide offers the best life insurance for 30-year-olds, providing several types of policies and flexible premiums. It has an overall MoneyGeek score of 97.

The best young adult life insurance option may vary depending on your needs and preferences. State Farm ranked highly for best whole life insurance for young adults in their 30s and best no medical exam policies. GEICO is the top pick for the best life insurance for young people who prioritize customer satisfaction.

Nationwide secures a MoneyGeek score of 97, making it the overall winner among companies offering life insurance for 30-year-olds. The high rating reflects the company's robust offerings and seamless buying process. A 10-year term policy with a $250,000 coverage amount costs an average of $12 monthly.

For 30-year-olds seeking higher coverage, Nationwide also offers the best life insurance policy for young adults. The company excels with a score of 98 for this category, offering a $1 million policy at $23 per month on average.

State Farm stands out among companies offering whole life insurance and no medical exam policies for 30-year-olds, scoring 99 in both categories.

GEICO, with a MoneyGeek score of 97, stands out for exceptional customer satisfaction. This can be important for 30-year-olds valuing responsive and reliable service. The company offers life insurance at $10 monthly for a $250,000, 10-year term policy.

MoneyGeek reviewed average life insurance rates for 30-year-old buyers with coverage amounts of $250,000, $500,000 and $1 million. Given women's longer life expectancy, life insurance for 30-year-old female policyholders is generally cheaper than that for men.

That said, both genders can find affordable life insurance for young adults, making it a practical financial tool for those in their 30s planning their future.

Smoking can increase your risk of developing certain diseases. As a result of the increased mortality risk, even the cheapest life insurance policies for smokers can cost more than double what a nonsmoker would pay on life insurance plans for young adults.

The tables below illustrate the potential rate variations for smokers.

The younger you acquire life insurance, the less it will cost because younger people are generally healthier and have longer lifespans than older age groups. As you age, you may develop health issues that increase the insurance cost or preclude you from getting the policy you want. It may be best to purchase life insurance in your 30s.

The tables below illustrate how significantly life insurance rates change as you age.

Life insurance policies for a 30-year-old are available in two forms: term insurance and permanent insurance.

Permanent life insurance is usually more expensive than a term insurance policy. However, the ideal policy for you is determined by your requirements, age and medical history.

A 30-year-old person indeed pays significantly less for life insurance than someone older. If you still need to purchase insurance or your health history isn't flawless, there are still methods to save money on your coverage.

If you are a 30-year-old looking for a life insurance policy, the following suggestions can help you save money on insurance premiums:

As a 30-year-old, you may have questions about purchasing a life insurance policy. Understanding the answers to some common questions about life insurance can help you find the right policy for your needs.