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Last Updated on: October 26th, 2026
Reviewed by Kyle Wilson
Many people put off life insurance until something forces the question: a wedding, a baby, or a scare. By then, the price is higher, and sometimes a new diagnosis has already changed which policies they can get.
The right time isn’t a single age. It’s set by two things: who would struggle financially if you died, and how long you can keep your current health and age working in your favor.
Quick answer: Get life insurance as soon as someone depends on your income, shares your debts, or would pay for your funeral. If no one does yet, buying in your 20s or 30s locks in low rates and protects your ability to qualify later. It’s rarely too late: coverage is available into your 80s.
The right time to get life insurance is the moment someone would face financial hardship if you died: a spouse, children, a co-signer, or the family that would pay for your funeral. If no one depends on you yet, the next-best time is while you’re young and healthy, because your age and health class at purchase set your price for the whole term.
Trigger | What it means | What to do |
1. Financial dependency | Someone relies on your income, unpaid work (like childcare), or shared debt | Buy enough coverage now to replace that support |
2. Insurability and cost lock | You’re young and healthy, even without dependents | Consider buying a smaller, long-term policy before age or health raises the price |
Trigger 1 tells you that you need coverage. Trigger 2 tells you it may pay to buy before you need it.
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Premiums rise with age because the chance of dying rises. Social Security’s 2023 period life table puts a 40-year-old man’s chance of dying within a year at about 0.31%, while at 60 it’s about 1.13%, more than three times higher. Insurers build that curve into your price.
Here’s what waiting does to a $500,000, 20-year term policy at Choice Mutual’s published preferred rates:
Age at purchase | Woman (monthly) | Man (monthly) |
30 | $16 | $18 |
40 | $24 | $28 |
50 | $54 | $69 |
60 | $140 | $199 |
A man who waits from 40 to 50 pays about $41 more a month, or $9,840 more over the 20-year term. Waiting also risks a new diagnosis, such as diabetes or a heart condition, that could push you into a higher-priced health class or a different policy type entirely.
No. At 40, a healthy man can still buy $500,000 of 20-year term for about $28 a month at preferred rates. At 70, term options are shorter (10 years is typical), but final expense whole life is widely available: about $53 (women) to $70 (men) a month for $10,000 of non-tobacco coverage. Guaranteed issue policies accept applicants with no health questions into their mid-80s.
You need life insurance at each stage of life where your death would leave someone with a bill they couldn’t pay. The type and amount change as you move from early career to family, homeownership, retirement, and old age. Coverage needs usually peak while you’re raising children and paying a mortgage, and the least, but still some, in retirement.
Is it worth getting life insurance at 25? It’s worth it if anyone depends on you or co-signed your loans, such as private student loans with a parent as co-signer. If not, it’s optional, but it can be a smart, cheap move.
The main benefit isn’t the price drop from buying at 25 instead of 30, because preferred rates barely change in your 20s. Choice Mutual’s $500,000, 20-year rate is 15–18 a month at both 25 and 30. The real benefit is insurability: a healthy 25-year-old who buys a 30-year term or a convertible policy locks in that health class even if they develop a condition later.
When two incomes cover one lifestyle, losing either can break the budget. Consider coverage when you:
A term policy sized to cover shared debts plus a few years of the survivor’s share of expenses is a common starting point.
This is the stage with the biggest need. When you’re expecting a child or raising young kids, coverage should replace your income until they’re independent, and cover childcare, housing, and possibly college.
A mortgage is often a family’s largest debt. Match a term policy to the years left on the loan, typically 15, 20, or 30 years, so your family can stay in the home. See our guide to level term life insurance for how fixed premiums work over the term.
Note: Term life usually beats lender-sold mortgage insurance. With term life, your family receives the payout and decides how to use it; mortgage protection policies often pay the lender directly.
In your 50s and early 60s, the need shifts. Kids are independent and the mortgage may be nearly paid off, but a spouse may still rely on your pension or Social Security. This is also when to plan for final expenses and estate costs.
Common moves at this stage:
For seniors, the main goal is usually covering funeral, burial, and final medical bills so family doesn’t pay out of pocket. The National Funeral Directors Association’s 2023 median cost of a funeral with viewing and burial was $8,300, before cemetery costs. A 10,000–25,000 final expense insurance policy covers that, with premiums that never increase. Read our guide to life insurance for senior citizens for options by age.
Life stage | Primary financial trigger | Best policy type | Typical coverage duration | Priority |
Young adult, no dependents | Co-signed debt; locking in insurability | Small term or convertible term | 20–30 years | Optional to medium |
Newlyweds / couples | Shared debt and income | Term | 10–20 years | Medium |
Parents of young children | Income and childcare replacement | Term (both parents) | 20–25 years | High |
Homeowners | Mortgage balance | Term matched to the loan | 15–30 years | High |
Pre-retirees | Spouse’s income; final expenses | Shorter term plus small whole life | 10 years to life | Medium |
Seniors 50–85+ | Funeral and final bills | Final expense whole life | Life | Medium to high |
High-net-worth families | Estate liquidity | Permanent (whole or universal) | Life | Depends on estate |
Get term life insurance when you have a large need for a set period, such as raising children or paying off a mortgage. Get whole or universal life insurance when the need lasts your whole life, such as final expenses or estate costs. Get supplemental life insurance when your employer’s group plan doesn’t cover enough, or as a quick top-up while you shop for an individual policy.
Term life insurance is best during your working years, roughly ages 20 to 55 for most buyers. It gives the most coverage for the lowest price and expires when the need ends.
Get term when you:
Buy the longest term you’ll need while you’re young; 30-year terms are typically only offered through about age 55. A convertible term policy adds flexibility by letting you switch to permanent coverage later without new health questions.
Whole life insurance makes sense at two points in life:
Universal life insurance is permanent coverage with flexible premiums and an adjustable death benefit. It fits when you need lifelong coverage but want more flexibility than whole life offers, or when you want the lowest-cost permanent death benefit.
Note: Universal life policies with flexible premiums can lapse if you underpay or if credited interest falls short. Review the policy’s illustration every few years.
Supplemental life insurance is extra coverage you buy through your employer on top of the basic group policy. It makes sense when the free or basic coverage is too small, and as a fast, often no-exam way to add coverage during open enrollment.
The limits of group coverage:
Issue | What it means for you |
Coverage is often capped at 1–2x salary (per MoneyGeek) | Most families need more, especially with young children |
Coverage usually ends when you leave the job | You typically have about 30–31 days to port or convert it |
Ported or converted coverage often costs more | You lose the employer’s group pricing; conversion is usually to costly permanent coverage |
Employer-paid coverage over $50,000 creates taxable income | The IRS requires the cost of coverage beyond $50,000 to be added to your wages |
The safest approach is to treat group coverage as a bonus, not your main plan. Own an individual term policy that stays with you no matter where you work, and use supplemental coverage to fill short-term gaps. See our guide to group life insurance.
Policy type | Best time to buy | How long it lasts | Typical buyer |
Term | Working years, ideally before age 40–45 | 10–30 years | Parents, homeowners, breadwinners |
Whole life (early) | 20s–40s | Life | High earners wanting guarantees and cash value |
Whole life (final expense) | 50–85 | Life | Seniors covering funeral and final bills |
Guaranteed universal life | 40s–70s | To a chosen age, such as 90, 100, or 121 | Estate planning, permanent legacy at lower cost |
Indexed/variable universal life | 30s–50s | Life, if funded | High earners with long time horizons |
Supplemental (employer) | Open enrollment, any working age | While employed | Workers who need a quick top-up |
Term life rates stay nearly flat through your 20s and early 30s, then start climbing around 35 to 40. From 40 onward, a $500,000, 20-year policy gets roughly 8% to 10% more expensive for each year you wait, and more than 10% a year after 55. Whole life and final expense premiums follow the same curve.
Buying young helps in two ways: you lock in a low price for the full term, and you lock in your current health class before any diagnosis can change it. The table below shows the average annual increase in Choice Mutual’s published preferred rates for $500,000 of 20-year term, between each five-year age band.
Age band | Men: average yearly increase | Women: average yearly increase |
20 → 30 | About 0% | About 1% |
30 → 35 | About 2% | About 1% |
35 → 40 | About 7% | About 7% |
40 → 45 | About 10% | About 8% |
45 → 50 | About 9% | About 9% |
50 → 55 | About 10% | About 9% |
55 → 60 | About 12% | About 11% |
60 → 65 | About 14% | About 13% |
Note: Preferred rates are nearly flat through your 20s, so buying at 22 instead of 28 may not save you money on price alone. The bigger reason to buy young is protecting your insurability.
Preferred non-tobacco rates (Choice Mutual, valid March 9, 2026)
Age | $100k 20-yr (F / M) | $500k 20-yr (F / M) |
20 | $8 / $8 | $15 / $18 |
25 | $8 / $8 | $15 / $18 |
30 | $8 / $9 | $16 / $18 |
40 | $9 / $10 | $24 / $28 |
50 | $17 / $21 | $54 / $69 |
60 | $37 / $51 | $140 / $199 |
70 | 10-yr only: $56 / $82 | 10-yr only: $197 / $313 |
Note: Choice Mutual’s tables are headed by term length but not labeled by coverage amount; the amounts above follow the order the page lists them. These are preferred rates for healthy non-smokers. Average-health applicants pay more; MoneyGeek’s average-health rate for $500,000 of 20-year term at 40 is $47 (women) to $59 (men).
Non-tobacco rates (Choice Mutual, valid March 9, 2026)
Age | $10,000 (F / M) | $25,000 (F / M) |
50 | $24 / $31 | $55 / $71 |
60 | $33 / $43 | $76 / $103 |
70 | $53 / $70 | $127 / $169 |
80 | $98 / $135 | $241 / $332 |
A $10,000 policy bought at 60 instead of 70 saves a woman about $20 a month and a man about $27, for life. See how much burial insurance costs per month for more detail.
It’s rarely too late to get life insurance. Term coverage gets harder to buy after about 70 to 75, but final expense whole life is commonly issued to applicants in their 80s, and guaranteed issue policies accept everyone within their issue ages. What changes with age and health is the price, the coverage amount, and whether you face a waiting period.
It becomes too late for a particular policy type when you pass its maximum issue age, or when your health rules out the underwritten options. Typical published issue ages:
Policy | Example maximum issue age |
30-year term | About 55 (Choice Mutual’s published rates stop at 55) |
20-year term | About 65 |
10-year term | Often available into the 70s |
Simplified-issue final expense | Up to 85 (Transamerica Immediate Solution) or 89 (Aetna’s Accendo) |
Guaranteed issue whole life | Up to 85 (Mutual of Omaha and Corebridge) |
If you have a pre-existing condition, you may still qualify. Depending on the carrier, final expense policies may accept applicants with controlled high blood pressure, diabetes, or a past heart attack, sometimes with a graded plan. See life insurance with pre-existing conditions and high-risk life insurance.
| Simplified issue | Guaranteed acceptance (guaranteed issue) |
Health questions | Yes, a short questionnaire plus database checks | None |
Medical exam | No | No |
Coverage from day one | Full, on level plans | Limited for the first two years |
Typical coverage | Up to 25,000–50,000, depending on age | Up to $25,000 |
Cost | Lower | Higher |
Best for | Most seniors in fair health | Serious health conditions or prior declines |
The two-year graded death benefit is the key catch with guaranteed issue. For example, Mutual of Omaha’s guaranteed whole life pays all premiums plus 10% if you die of natural causes in the first two years, and the full benefit for accidental death. After two years, it pays the full amount for any cause.
Always try simplified issue first. Our guides to simplified issue life insurance and guaranteed issue life insurance explain each in detail.
Does anyone depend on your income, share your debt, or expect to pay for your funeral?
+– Yes –> Buy now.
Large, time-limited need? –> Term (match the longest need)
Lifelong need (funeral, estate)? –> Whole life / final expense
+– No –> Are you under 40 and healthy?
+– Yes –> Consider a small convertible term policy
to lock in your health class
+– No –> Plan for final expenses; compare
simplified issue first, then guaranteed issue
The best time to get life insurance is as soon as someone would be hurt financially by your death, and ideally before age or health raises your price. Rates stay low through your 20s and early 30s, start climbing in your late 30s, and rise roughly 8% to 10% a year from 40 on. It’s rarely too late, but every year of waiting costs more and narrows your choices.
If you are… | Get this, now |
20s, no dependents | Optional: a small convertible term policy to lock in your health class |
Newly married or living together | Term to cover shared debts and income |
Expecting or raising children | Term for both parents, 20–25 years |
Buying a home | Term matched to the mortgage |
Relying only on employer coverage | An individual term policy you own |
50–65, kids grown | Shorter term if a spouse still needs income, plus final expense coverage |
65–85 | Simplified-issue final expense; guaranteed issue only if declined |
The rate you pay is set the day you’re approved, so the sooner you compare, the more you can save. Burial Senior Insurance works with carriers including Mutual of Omaha, AIG, Aetna, MetLife, Gerber Life, Globe Life, and Royal Neighbors of America. Our licensed agents help families and seniors compare term, final expense, and guaranteed issue coverage.
Compare life insurance quotes at Burial Senior Insurance and lock in today’s rate.
Get life insurance at whatever age someone first depends on you financially, whether that's a spouse, a child, a co-signer, or family who'd cover your funeral. If you're buying ahead of need, your 20s and early 30s are the cheapest window: Choice Mutual's preferred rate for $500,000 of 20-year term is 15–18 a month from 20 to 30, versus 24–28 at 40.
It's worth it at 25 if anyone depends on your income or has co-signed your debts. Without dependents, it's optional, but a 25-year-old can lock in $500,000 of 20-year term for about 15–18 a month at preferred rates and protect their insurability against future health changes.
A $100,000, 20-year term policy costs about $8 to $10 a month for healthy adults aged 20 to 40, $17 to $21 at 50, and $37 to $51 at 60, at Choice Mutual's preferred rates. At 70, a 10-year term costs about $56 to $82. The same amount of whole life costs far more: about $168 to $192 a month at 50.
No. At 40, a healthy applicant can still buy $500,000 of 20-year term for about $24 (women) to $28 (men) a month at preferred rates. But 40 is when rates start rising faster, roughly 8% to 10% for each year you wait, so it's a good time to act.
Get whole life insurance early if you want lifelong coverage and cash value and can afford the higher premium, or between 50 and 85 for a small final expense policy that covers your funeral and never expires.
Not on its own. Group coverage is often limited to one to two times your salary and usually ends when you leave the job. Own an individual policy and treat workplace coverage as extra.
All sources were opened on October 23, 2026.
Note: Annual increase percentages are calculated from Choice Mutual’s published rates. All premiums are benchmarks, not quotes; your rate depends on your health, tobacco use, state, and carrier.
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