Life Insurance at 21 Years Old -

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Life Insurance At Age 21- Your Options  


If you are shopping for life insurance at age 21, then you are probably concerned about leaving a financial burden on your loved ones. Most shoppers look for life insurance at in their twenties so that they can lock in a low rate while they are young and in perfect health. Many parents will also purchase life insurance for their children at this age. One thing you can be sure of is that you have plenty of choices for coverage and the cost is very affordable.

Learn more about your options below or get started now and compare rates from several highly rated carriers.  

Your Coverage Options at This Age 

You have two basic options to consider - term life insurance and permanent life insurance. Term life insurance is temporary coverage that can last anywhere from one year or as long as 40 years, depending on the company that you choose. Term is very affordable coverage because you can get a lot of coverage for a very reasonable premium. Unlike term insurance, permanent life insurance will last you for your entire lifetime, as long as you continue to pay your premiums. Your policy will also accumulate cash value on a tax-deferred basis. Whole life and universal life are the 2 most common permanent coverage options.  

Sample Rates for a 21 Year Old Man and Woman  

Below are some sample rates to give you a general idea of what a policy will cost. These are based on a non-smoker with a preferred health rating. Your rate could be lower or higher depending on your situation.  

$250,000 30 Year Term Life Insurance:  

21 Year Old Male - $297.50 per year
21 Year Old Female - $235 per year

$250,000 Level Pay Whole Life Insurance:  

21 Year Old Male - $1,222.50 per year
21 Year Old Female - $1,062.50 per year

Keep in mind that the actual rate that you will pay is going to depend on several variables such as your smoking status, your health history, your family health history, your occupation and hobbies, and even your driving history. Life insurance companies look at all of these things when determining your eligibility for a policy.  

How is Your Health?  

Most 21 year olds have excellent health, which means you can qualify for preferred rates. In some cases, young men and women have pre-existing health conditions from birth or other things that have developed during childhood or the teenage years. In most of these cases, you can still get affordable rates, though the type of policy that you can qualify for and the rate you pay will depend on what that particular health issue is. For example,if you have juvenile diabetes, then some insurers will offer you a standard rate if your A1C is 7 and below. If you have some heart problems, then you may only qualify for a guaranteed issue life insurance policy. It is best to speak with an experienced agent about your particular health situation because he or she can guide you towards the best carrier for your needs.  

Ready for a Quote? Get a Free Rate Comparison in Under a Minute  

The first step when shopping for life insurance at age 21 is to shop around. Rates can vary by as much as 70% from one company to another so it definitely pays to compare. Get a free no obligation quote today and compare multiple quotes from highly rated carriers. This will ensure that you get the most competitive quote for your age and your overall needs. If you want to speak to an experienced professional agent then call 888-475-6099 right now.

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Life Insurance at 21 Years Old -






Patricia Jordan AuthorPatricia Jordan is a licensed life insurance agent and managing editor of the Quotes for Term Life website and blog. Patricia assists people in finding the most affordable life insurance policy for their needs. Connect with Patricia on Google+


Life Insurance at 21 Years Old -
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