Updated: November 13, 2019

Life Insurance for Young Adults

There are life insurance policies for people in their 20s and 30s. Read our guide to find out what they could offer you

Get Started
Ask A Quick Question

Ask A Quick Question

We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in life insurance. Ask us a question and we'll get the best expert to help.

FCA Logo
1 of 2
2 of 2 Send!

No impact on your credit score

Pete Mugleston

Author: Pete Mugleston - Mortgage Expert

Updated: November 13, 2019

Getting life insurance is something not many young adults think about, but deciding whether or not you need cover is less about age and more about your situation.

Life insurance isn’t just for older generations, it’s a fantastic tool for anyone with financial obligations or dependants who may suffer in the case of your sudden absence.

Taking out life insurance as a young adult means you’ve considered your priorities and have built a financial safety net to see your loved ones through any situation.

In this article, we’ll cover…

Should I get life insurance if I’m in my 20s?

It’s not always common to consider getting life insurance when you’re in your 20s, but there are some major advantages to taking out a policy.

  • You could benefit from very low premiums, even when taking out a large amount of cover.
  • Since your premiums are calculated based on your current age and health, you can get a much better rate than if you were to wait until your later years when health problems may surface.
  • Long-term peace of mind that financial prudence brings – no risk of losing your mortgage, your savings, or putting any loved ones at risk in the worst case scenario.

To find a quote that best matches your needs, make an enquiry and we’ll connect you to a financial advisor who can help you compare insurance rates quickly and easily. It costs you nothing to find out how much life insurance might cost you and there’s no obligation to take any advice you may get.

Speak to a expert today

Get Started

How to get life insurance for under 30s

There are many situations in which young adults under 30 can benefit from being able to provide vital financial protection to their loved ones. Once you’ve decided how much cover you’d like to take out and what your ideal term length would be, compare the UK’s top insurers to get the cheapest quote for those aged 30 years old or under.

Life insurance for a 20-30 year old could cost you as little as £8-12 a month, although this may vary considerably based on factors such as your health and the amount of cover you need.

Online insurance comparison sites can help you scan the market and get a quotation to compare offers for life cover, however, this is not a personalised service and will only give you a rough idea of which providers could offer a more competitive rate.

Tools like this can’t take the details of your situation into consideration, or do a thorough whole of market comparison. Which is why experts recommend speaking to a financial advisor who can give you professional and personalised advice.

Make a quick enquiry to be connected to an expert insurance advisor.

Are things any different if I’m in my 30s?

If you’ve hit your 30s, this is often a prime time for getting life insurance.

At this point, you may be established in your career, starting a family, or have loved ones who depend on you.

You may have bought a house with your partner and have a joint mortgage; if the upkeep of your property is reliant on two incomes, it’s wise to secure your assets with joint life insurance.

If life throws you any unexpected curveballs, life insurance will help your partner cope financially and ensure that your mortgage and savings aren’t wiped out.

Getting your life insurance sorted sooner rather than later can pay back long-term dividends.

Call Online Money Advisor on 0808 189 0463 or make an enquiry and talk to a financial advisor who can help you decide how long you may want cover for, at what price and which provider is right for you.

How to get life insurance if you’re over 30

Getting life insurance while in your 30s gives you the advantage of being young enough to lock in a low premium for decades to come. However, as with all insurance cover, the amount you pay for your insurance will depend on a variety of factors relating to your individual circumstances.

What is the average cost of life insurance for a 30 year old?

The average cost of insurance for a 30 year old is in the £12 – £20 a month range, but this can vary dramatically based on your needs and personal circumstances.

With this in mind, insurance comparison services or an insurance advisor (recommended) can help you further investigate offers on the market.

If you want to ensure the quote you get is not only the cheapest available, but also takes into consideration your specific policy needs, speak to a financial advisor. Get in touch on 0808 189 0463 or make an enquiry and we’ll put you through to one of the experienced life insurance advisors we work with.

All of the advisors we work with are independent with access to insurance products from insurance providers across the UK, so you can be sure you’re going to get the best price available on the policy you want.

Should I change policies if I’m no longer a young adult?

Speak to an expert before considering this but it’s possible that your needs and circumstances may have changed by the time you reach the age of 40 or 50, and you will want to make sure that your life insurance policy reflects this.

Generally, the older you are the more you’ll have to pay for a life insurance policy.

This is because the risk of you passing away gets higher the older you get – so insurers factor in the added risk that you might die during your policy term.

If you’re in your 30s and 40s, the average cost of life insurance would be in the £15-25 range per month. However, a provider will take into account many other factors apart from your age which will impact on premium rates.

These situation-specific criteria for judging premium price include:

  • Your age
  • Your health
  • Whether or not you smoke
  • How long you want to take out cover for
  • How much cover you want
  • How financially secure you are

Speak to an expert advisor

Life insurance is especially important for young people who have a mortgage, children, or any dependants.

Getting life insurance as a young adult often comes with significant benefits in terms of premium price, but once you take out life cover, this premium will usually be fixed for the entire length of the policy. This makes it vitally important that you carefully research the market and get expert advice before tying yourself in with a far-reaching policy.

With the right guidance and support you can take out a life insurance policy that truly has your back. And get a great price for the right cover too.

Call Online Money Advisor on 0808 189 0463 or make a quick online enquiry and we’ll connect you to one of the independent expert advisors we work with.

They will be happy to answer all your questions and advise you of how much it might cost to get the insurance cover you need. Advisors will only get paid when you get the life insurance policy at a price you want and it won’t cost you a penny.

Ask A Quick Question

We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in life insurance. Ask us a question and we'll get the best expert to help.

FCA Logo
1 of 2
2 of 2 Send!
Pete Mugleston

Pete Mugleston

Mortgage Expert

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Continue Reading

Chevron Right Life Insurance

Chevron Right A Quick Guide to Guaranteed Life Insurance

Chevron Right Best Life Insurance

Chevron Right Can I Combine Life Insurance and Income Protection Insurance?

Chevron Right Changing Life Insurance

Chevron Right Converting Term to Whole Life Insurance

Chevron Right Declined Life Insurance

Chevron Right Divorce and Life Insurance Policies

Chevron Right Do I Need Life Insurance Plans for my Children?

Chevron Right Family Life Insurance

Chevron Right Endowment Life Insurance

Chevron Right Getting Life Insurance for Someone Else

Chevron Right Guide to the UK’s Top Life Insurance Companies

Chevron Right How Do You Compare Life Insurance?

Chevron Right How Many Life Insurance Policies Can I Have?

Chevron Right How Much is Life Insurance in the UK?

Chevron Right How Much Life Insurance Do I Need?

Chevron Right How to Cancel Your Life Insurance Policy

Chevron Right International Life Insurance for Expats

Chevron Right Is Life Insurance Worth It?

Chevron Right Joint UK Life Insurance Policies

Chevron Right Life and Accident Insurance

Chevron Right Life and Health Insurance

Chevron Right Life Insurance – What Happens If My Circumstances Change?

Chevron Right Life Insurance and Inheritance Tax – A Quick Guide

Chevron Right Life Insurance Beneficiary Rules

Chevron Right Life Insurance for People Over 50

Chevron Right Life Insurance for People Over 60

Chevron Right Life Insurance for Over 65s

Chevron Right Life Insurance for People Aged 70 and Over

Chevron Right Life Insurance for the Self-Employed

Chevron Right Life Insurance for Women

Chevron Right Life Insurance for Young Adults

Chevron Right Life Insurance Savings Plan

Chevron Right Life Insurance Tax Guide

Chevron Right Life Insurance When Pregnant

Chevron Right Life Insurance with Cash Back

Chevron Right Life Insurance With No Medical

Chevron Right Mortgage Life Insurance

Chevron Right Pension Life Insurance

Chevron Right Putting Life Insurance into Trust

Chevron Right Quick Life Insurance

Chevron Right Senior Life Insurance

Chevron Right Short-Term Life Insurance

Chevron Right Should I Take Out Funeral Life Insurance?

Chevron Right Should You Use a Life Insurance Broker?

Chevron Right Types of Life Insurance

Chevron Right Understanding Life Insurance Quotes

Chevron Right What Does Life Insurance Cover?

Chevron Right What’s the Difference Between Life Insurance and Life Assurance?

FCA Disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

Get Started