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6 Best Life Insurance Options For Young Adults

Jodie Price

By Jodie Price | Updated November 10, 2025

Buying life insurance in your 20s is a smart move since rates are lower when you’re young and healthy. The best life insurance for young adults offers affordable premiums and flexible coverage options, making it easier to protect your future. With the right plan, you can gain peace of mind and long-term financial security without straining your budget.

  • Symetra

    Symetra offers the SwiftTerm plan, starting with a minimum face amount of $100,000. With eligibility beginning at age 20, this policy provides early access to meaningful coverage. It’s a practical option for young adults seeking straightforward protection at the start of their financial journey.

    Our Expert Take

    Symetra stands out for offering some of the lowest average term life insurance rates, particularly for younger buyers in their 20s. If you qualify, you can even purchase coverage online with instant approval, making the process quick and convenient.

    The company also provides cash value options, but its biggest strength is competitive term coverage. With strong financial backing and flexible policy choices, Symetra is a reliable option if you want low-cost coverage and long-term stability in one package.

    Pros & Cons

    Pros

    • Low-cost term life insurance rates for younger adults
    • Strong financial strength rating from AM Best
    • Multiple rider options to customize coverage
    • Offers both term and permanent life insurance products

    Cons

    • Limited brand recognition compared to larger insurers
    • Fewer digital tools than some competitors
    • Not the widest range of permanent life policy choices

    More Symetra Life Insurance Details

    Symetra gives you the option to customize your policy with riders like accelerated death benefit, accidental death benefit, child term life insurance, and waiver of premium. These add-ons provide flexibility, whether you want extra financial protection for your family or safeguards against unexpected challenges.

    Coverage is available up to age 60, with term lengths of 10, 15, 20, or 30 years, making it easy to align your policy with milestones like mortgages or retirement planning. This flexibility ensures you can choose a term that fits your financial goals.

    Backed by an A (Excellent) rating from AM Best, Symetra demonstrates strong financial stability. That rating reassures policyholders that the company is well-positioned to pay claims and provide reliable long-term protection.

  • Lincoln Financial

    Lincoln Financial’s TermAccel Level Term plan offers a minimum coverage amount of $100,000, providing accessible options for early coverage. With a minimum issue age of 18, it’s designed for young adults just starting their financial planning journey. This policy provides a straightforward way to secure affordable protection at an early age.

    Our Expert Take

    Lincoln Financial’s TermAccel is tailored for healthy young buyers who want a simple, fast online application process. While its term life rates aren’t the lowest available, the policy includes features like renewability and conversion, which make it more adaptable to long-term needs.

    The company provides dependable coverage amounts and customer support, giving you confidence that your policy can evolve with life’s changes. Its strong financial foundation further ensures that claims will be honored, adding stability to your long-term planning.

    If you value flexibility, Lincoln Financial stands out for letting you transition from term to permanent insurance. This option makes it easier to adjust your coverage as your financial responsibilities grow.

    Pros & Cons

    Pros

    • Wide range of term lengths
    • Option to convert to permanent coverage
    • Strong financial strength rating
    • Multiple riders for added protection

    Cons

    • Slower underwriting compared to some competitors
    • Rates may be higher for younger adults with health issues
    • Limited online quote tools

    More Lincoln Financial Life Insurance Details

    Lincoln Financial offers several rider options, including accelerated death benefit, child term life, and waiver of premium. These add-ons let you customize your policy for extra protection, whether that means accessing funds early during illness or extending coverage to your children.

    The maximum issue age for term policies is 60, and you can choose from 10-, 15-, 20-, or 30-year terms. This flexibility makes it easier to match your coverage length with financial milestones like paying off a mortgage or raising a family.

    Backed by an A+ (Superior) rating from AM Best, Lincoln Financial demonstrates strong financial stability. This high rating gives policyholders confidence that the company can meet future claims and provide long-term security.

  • Pacific Life

    Pacific Life’s PL Promise Term plan offers a minimum face amount starting at $50,000, making it a flexible choice for affordable coverage. With a minimum issue age of 18, it’s well-suited for young adults looking to begin long-term financial protection early. This plan provides accessible entry-level coverage with room to grow as needs change.

    Our Expert Take

    Pacific Life is a strong option for young adults thanks to its competitive term life rates and flexible coverage features. With its PL Promise Term, you can access no-exam policies up to $3 million, making it an attractive choice for healthy applicants seeking quick, hassle-free approval.

    You can also choose from a variety of term lengths, which helps align coverage with financial milestones like paying off student loans, raising a family, or securing a mortgage.

    Backed by a long history and strong financial stability, Pacific Life provides peace of mind that your policy will remain reliable. This combination of affordability, flexibility, and security makes it appealing for both younger buyers and long-term planners.

    Pros & Cons

    Pros

    • Wide range of term lengths
    • Strong financial strength rating (A+ from AM Best)
    • Multiple riders available for customization
    • Well-established company with long history

    Cons

    • Premiums may be higher than some competitors
    • Must apply through an agent, not fully online
    • Limited digital tools compared to newer insurers

    More Pacific Life Insurance Details

    Pacific Life gives you flexibility to tailor coverage with riders such as an accelerated death benefit, child term rider, and waiver of premium. These options let you adapt your policy to health concerns or family needs without buying separate coverage.

    The maximum issue age is 75, making it available to a broad range of applicants, though the lowest rates are generally reserved for younger buyers. You can also choose from term lengths of 10, 15, 20, 25, or 30 years, which makes it easier to match coverage with financial goals like paying off a mortgage.

    With an A+ (Superior) rating from AM Best, Pacific Life demonstrates strong financial stability and reliability in paying claims. This assurance provides long-term confidence that your coverage will remain secure throughout the policy.

  • Principal

    Principal’s Term Life plan requires a minimum face amount of $200,000, making it ideal for young adults seeking substantial coverage from the start. With a minimum issue age of 20, it’s designed to help you secure financial protection early in life. This option works well if you want higher baseline coverage to protect your long-term obligations.

    Our Expert Take

    Principal appeals to younger buyers with its low rates and broad term length options, making it easy to align coverage with financial goals like paying off student loans or a mortgage. Healthy applicants can get up to $3 million in coverage without a medical exam, making the application process quick and easy.

    The company’s strong AM Best rating reinforces its financial stability, giving policyholders confidence that claims will be handled reliably.

    You can also add riders to customize your policy, such as living benefits or extra family coverage. These options enhance flexibility, making Principal attractive if you want more than basic term life insurance.

    Pros & Cons

    Pros:

    • Wide range of term lengths available
    • Strong AM Best financial strength rating
    • Multiple rider options for added flexibility
    • Competitive pricing for young adults

    Cons:

    • Maximum issue age may limit older applicants
    • Not always the lowest premium compared to online-only insurers
    • Some riders may increase overall policy cost

    More Principal Life Insurance Details

    Principal offers level term policies of 10, 15, 20, or 30 years, making it easier to match coverage with financial needs such as mortgages or education costs. With a maximum issue age of 80, it provides more flexibility for older applicants compared to many competitors.

    Policyholders can also add riders for extra protection, including an accelerated death benefit, conversion extension, or waiver of premium. These options let you adapt coverage to life changes without needing a new policy.

    Principal holds an A+ (Superior) rating from AM Best, signaling excellent financial strength and reliable claims support. This strong rating adds long-term security to its already flexible policy structure.

  • Protective

    Protective’s Classic Choice Term plan starts with a minimum face amount of $100,000, giving young adults a solid foundation for coverage. With a minimum issue age of 18, it’s accessible right as you enter adulthood. This plan is a flexible option if you want affordable protection early in life.

    Our Expert Take

    Protective is a smart choice if you want affordable term life insurance with flexible options. It stands out for offering low premiums, particularly for younger, healthier applicants who qualify for the best rates.

    A key advantage is the wide variety of term lengths, including 35- and 40-year terms, which let you lock in coverage for longer than most competitors. This flexibility makes it easier to align your policy with long-term financial goals, like paying off a mortgage or ensuring family protection.

    Backed by strong financial stability, Protective gives you peace of mind that claims will be honored. Although it has fewer permanent policy options, its extended-term products are ideal for young adults seeking affordability and simplicity.

    Pros & Cons

    Pros:

    • Competitive pricing on term life policies
    • Wide range of term lengths available
    • Strong AM Best financial strength rating
    • Options to add riders for flexibility
    • Simple application process with some no-exam options

    Cons:

    • Fewer permanent life insurance options compared to some competitors
    • Limited availability of certain riders depending on your state
    • Online tools and digital features are not as advanced as some newer insurers

    More Protective Life Insurance Details

    Protective allows you to personalize your policy with riders like accelerated death benefit, child term life, accidental death, waiver of premium, and income provider options. These add-ons make it easier to adapt coverage to your family’s specific needs and financial situation.

    The company accepts applicants up to age 75, making it accessible to both younger and older buyers, though the best rates are usually available to healthier, younger applicants. It offers flexible term lengths of 10 to 40 years, allowing you to align protection with long-term goals such as mortgages or retirement planning.

    With an A+ (Superior) rating from AM Best, Protective demonstrates strong financial stability and a proven ability to pay claims. This backing gives policyholders added confidence that their coverage will remain dependable for decades.

  • Ameritas

    Ameritas’ Value Plus Term plan starts with a minimum face amount of $100,000, making it a solid option for affordable protection. With a minimum issue age of 18, it’s accessible for young adults just starting their financial planning.

    Our Expert Take

    Ameritas has been serving policyholders since 1887, making it one of the more established names in the life insurance industry. Its Value Plus Term policy is particularly appealing for younger buyers thanks to competitive pricing and conversion options that allow for flexibility as financial needs evolve.

    The company offers level term policies with predictable premiums, as well as permanent life insurance for those seeking lifelong protection. Riders are also available, giving you the option to enhance coverage beyond the basics and tailor benefits to your situation.

    With strong financial ratings from AM Best, Ameritas provides reassurance that claims will be paid reliably. Its affordability, particularly in markets like New York, makes it a practical option for young adults seeking reliable and budget-friendly coverage.

    Pros & Cons

    Pros:

    • Long history and strong reputation in the insurance market
    • Competitive pricing for young adults, especially in New York
    • Wide range of riders for added flexibility
    • Strong AM Best financial rating for stability

    Cons:

    • Availability and pricing can vary by state
    • Fewer digital tools compared to some newer insurers
    • Limited brand recognition outside certain regions

    More Ameritas Life Insurance Details

    Ameritas provides a variety of riders, including accelerated death benefit, accidental death, child term life, conversion extension, and waiver of premium. These options let you customize coverage to fit your specific needs, whether for added family protection or to guard against unexpected events.

    The maximum issue age for Ameritas term policies is 80, making it accessible even to older applicants. Level term lengths are available in 10, 15, 20, or 30 years, helping you align coverage with financial goals such as paying off a mortgage or funding your children’s education.

    Ameritas holds an A (Excellent) rating from AM Best, highlighting its financial strength and ability to pay claims. This strong rating adds confidence that your policy will remain secure throughout its term.

Frequently Asked Questions

What factors should be considered when choosing a life insurance policy for young adults?

You should consider the length of coverage, monthly premiums, and whether the policy requires a medical exam. Look at how much financial protection your dependents would need if you passed away. Also, compare term and whole life policies to see which align better with your budget and goals.

What is the process for a young adult to apply for and secure a life insurance policy?

Most insurers let you start with an online application where you provide personal and health details. Some policies may ask for a medical exam, but many no-exam options are available. Once approved, you can review the offer and activate coverage by paying your first premium.

How does the cost of life insurance for young adults compare to other age groups?

Premiums for young adults are usually lower than for older adults because you are considered lower risk. Rates increase as you age or develop health issues. Buying early helps you lock in these lower costs for the length of your policy.

What are the benefits of getting life insurance at a young age?

You can secure affordable coverage while you are healthy, which keeps premiums low. It protects your family or co-signers on debts like student loans if something happens to you. Starting early gives you more options and flexibility in choosing coverage.

Are there specific life insurance policies tailored to the needs of young adults?

Yes, many insurers offer term life policies designed for affordability and simplicity. Some companies also provide no-exam policies with quick approval, which can be appealing if you want fast coverage. These options are often structured to match the financial needs of people in their late teens and twenties.