Life Insurance Rates in Your 30s – Find The Best Rates - PinnacleQuote

Life Insurance Rates in Your 30s – Find The Best Rates

If you are in search of Life Insurance in your 30s, you came to the right place!

The best time to start thinking about life insurance is before you need it. When you’re in your 30s, it can be tempting to put off worrying about such a morbid topic.

But if you have a family, or dependents who rely on your income for their well-being, then protecting yourself from the unexpected should be top of mind. In this blog post we will talk about what life insurance rates are like when they happen in your 30s and how to find the right coverage for you and your loved ones at an affordable price.

Why Should I Buy Life Insurance At Age 30?

Why a millennial should have life insurance?

You’re young, maybe just married. Just bought your first home. Perhaps thinking about starting a family. Maybe the last thing on your mind is life insurance, but that should be the very first thing.

Not only that, once you take care of it, you don’t have to think about it again. So, why you need life insurance in your 30’s? This is a great question! Above all, term life insurance rates by age 30 are extremely cost-effective.

However, the amount of coverage will depend on what you are protecting.

When you purchase life insurance in your 30’s medical conditions are usually rare. In fact, the term length and the amount of the death benefit will determine the life insurance premiums. 

Furthermore, let’s talk about what you would be protecting at age 30 and what kind of financial obligations a 30-year-old would have.  

  • Car Loans
  • Credit Cards
  • Student Loans
  • Long term debt like a mortgage
  • Income Protection For The Family
  • Cover burial expenses
  • Protect your business
  • Protect co-signers from your debt
  • Medical bills
  • Lockdown affordable pricing ~ premiums increase with age!

How Much Life Insurance Should A 30-Year Old Have?

A healthy 30-year old that has a family and a mortgage would need about 15 times their income. Which is better term or whole life insurance?

After all, if you have a young child you want to make sure that the child is protected financially in the event of your death. In some cases, a 20-year term life policy would do the trick to properly protect the family. 

For instance, if you were making $100,000, you would need to purchase life insurance of about $1,500,000 to properly protect your family until your 50’s

This is the most precious and priceless gift you can give your family.  You have dreams you envisioned from the moment your child was born.

Those dreams all cost money, from want our children want and what they need. Purchasing a policy now will ensure that those dreams you envisioned will continue as planned.

Whether it is sports, dancing, college, you are leaving them with financial security to be able to live comfortably in your absence. 

How Much Life Insurance Do I Need At Age 30

Should I get 20 or 30-year term life insurance?

Overall, finding out how much life insurance you need in your 30’s is depending upon what are you protecting. As we talked about earlier in this article, I break it down to 2 very important things:

  • Youngest Child’s Age
  • How Much You Make a year (Annual Salary)

For example, the average American’s Salary is $56,516, so if your youngest child was 5 years old you would need 15 times your income for at least 15 years. So a 15 yr, $850,000 policy would be sufficient. You might want to even go 20 years because that would get you close to your 60’s

Cost of Term Life Insurance At Age 30

How much does life insurance cost for a 30-year-old? You’ll need to consider exactly how much life insurance coverage to buy to cover the expenses you want. We’ve already mentioned above a list of things covered. Do some calculations, and get a ballpark number.

A general rule is your life insurance policy should be about 10-15 times your yearly salary. Let’s take a look at some of the reasonable rates for those in their 30s, using a $250,000 30 year term policy as an example.

Life Insurance For 30-Year-Old Female

Term length $250,000 $500,000 $1,000,000
10-year $8.58 $10.87 $15.13
20-year $10.78 $15.78 $23.33
30-year $15.42 $24.54 $39.14

Life Insurance For 30-Year-Old Male

Term length $250,000 $500,000 $1,000,000
10-year $9.77 $13.03 $17.69
20-year $12.24 $18.69 $29.50
30-year $17.79 $29.13 $50.59

No Medical Exam Term Life In Your 30’s

Overall, when buying term life insurance in your 30’s you are ussually very healthy. In fact, most insurance providers have no medical exam term life available. However, you may pay more for that convenience.

Here are some Non Med Term Life Rates:


Term length $50,000 $100,000 $250,000
10-year $10.77 $16.20 $32.49
20-year $13.31 $21.27 $45.17
30-year $15.75 $26.17 $57.41


Term length $50,000 $100,000 $250,000
10-year $12.19 $19.05 $39.61
20-year $13.80 $22.25 $47.62
30-year $16.42 $27.50 $60.74

As you can see, no medical exam policies are considerably more expensive. Also, notice the difference in rates between men and women.

Apparently, these numbers are just estimations; the policy you find could be more or less expensive. $250,000 may not be close enough to be fully covered for you, in which case you may want to try to get $1 million of coverage.

However, it gives you a general idea of what to expect regarding rates. Of course, your rates will vary based on your general health. The 20-year term life insurance policy is probably not the best term to get if you’re looking to get to retirement. We’ll expand on this below.

Cost of Whole Life Insurance at Age 30

If you are looking into whole life in your 30’s you must be thinking long term. However, first starting out with a family you want to make sure they are protected in the most affordable way.

Let’s face it, at that age you are still getting established and you want to make sure you can keep protecting your family. 

Whole life is the most costly life insurance because it’s for your entire life. I would not recommend buying a whole life at such a young age as you are not established as you would be in your 40’s.

Here are some rates on a $250,000 whole life policy for a male and female.


Term length $25,000 $50,000 $100,000
Whole Life $23.46 $43.66 $86.32


Term length $25,000 $50,000 $100,000
Whole Life $25.71 $48.16 $95.32

I agree with Suze Orman and Dave Ramsey’s philosophy on life insurance. Get the most cost-effective life insurance and invest the difference.

Clearly, you can protect your family for the same amount for $200/month cheaper. If you invest that money over 2 decades, the principal would be $72,000!!

Now at a compound interest yearly, its a no brainier keeping your hands on your money!!

Life Insurance Rates In My 30s

Above all, once the 30s hit, you’ve reached full adulthood. You may have a new home to pay off, you may be starting to raise children, and you’re hopefully more financially stable than you were in your 20s.

Considering what might happen to those that are dependent on you if you died becomes a genuine concern. Life insurance can give you peace of mind on this matter. Rates will be a lot cheaper at this age than they’ll be for people over 50 and as well as over 75.

Life insurance is a necessary investment. You don’t want to leave loved ones to pay your debts, mortgage, or final expenses.

On top of this, you may want to replace any income that you were receiving, or use the life insurance plan to pay for individual things, like your children’s college tuition.

Make sure, however, that you go with one of the best life insurance companies.

1 Million Life Insurance Policy Cost In Your 30’s​

After going over why someone in their ’30s would need life insurance and the amount they would need, let’s talk about rates for a $1,000,000 term life insurance policy. We will look at the difference for a 30, 35 and 39 years old. 

Life Insurance for Female Age 30 To 39

Age 30yr Term 20yr Term 10yr Term
30 $39.14 $24.54 $15.42
35 $49.95 $28.09 $16.03
39 $66.13 $39.94 $21.72

Life Insurance for Male Age 30 To 39

Age 30yr Term 20yr Term 10yr Term
30 $50.59 $29.50 $17.69
35 $62.40 $32.64 $19.39
39 $83.59 $44.53 $24.48

How Can I Get Cheap Life Insurance In My 30’s

There are many things you can do to lower your life insurance costs. For one, it’s imperative to compare life insurance companies when you’re looking for a term life insurance policy for a 30-year-old.

Each life insurance company has different underwriting. Therefore, some insurance companies will believe you to be a higher risk than others.

You’ll want to shop at the best life insurance companies and compare life insurance quotes before deciding on which carrier you’d like to go with. An independent insurance agent can help you with this.

They’ll know exactly where to look to find life insurance companies that are most likely to offer you the lowest rates and the best coverage.

Anything you can do to improve your health before applying also makes a big impact on your life insurance rates. Here’s a list of things you can do before applying that will help you get cheaper life insurance rates:

  • Exercise often — those that are overweight pay much higher life insurance rates.
  • Eat healthier

Best Life Insurance Policy For 30-Year-Old

Other Measures To Take If You Have Health Impairments To Get The Best Rate

  • Takes measures to lower your blood pressure or treated cholesterol.
  • Quit any unhealthy habits — cigarette smokers can expect to pay 2 to 3 times more for their life insurance than nonsmokers. Quitting smoking a year in advance can save you a significant amount of money.
  • Life Insurance after DUI or more than 3 moving violations. Do not have them! Or any other special risks such as certain employment or lifestyle.
  • Make sure your health impairments are controlled such as diabetes type 1 or II, and early stages of MS.
  • If you have cancer or any other severe ailment, don’t worry, you can still get a guaranteed acceptance life insurance policy.

The healthier you present yourself, the better off you are. You don’t want life insurance companies to label you a high-risk applicant, or they’re going to charge you for it.

If you have any questions, please feel free to contact us at PinnacleQuote. We only have relationships with life insurance companies that are rated A/A+ with A.M. Best.


Why Consider Life Insurance in Your 30s?

Your 30s are often a time of significant life changes like marriage, homeownership, and starting a family. Life insurance can provide financial security for your dependents in case of an untimely death.

How Do Rates in Your 30s Compare to Other Ages?

Generally, life insurance rates are lower in your 30s compared to older ages. This is due to the lower risk profile associated with younger, typically healthier individuals.

What Factors Affect Life Insurance Rates in Your 30s?

Rates are influenced by health, lifestyle, the amount of coverage, the type of policy, and the term length. Smoking status, medical history, and occupation can also impact rates.

Is Term or Whole Life Insurance Better in Your 30s?

Term life insurance is often preferred for its lower premiums and defined coverage period, which can align with specific financial responsibilities. Whole life insurance is more expensive but offers lifelong coverage and a cash value component.

Can Health Conditions Affect Rates in Your 30s?

Yes, existing health conditions can increase premiums. It’s essential to maintain a healthy lifestyle and manage any conditions effectively to keep rates lower.

What Are the Benefits of Getting Life Insurance in Your 30s?

Lower premiums due to age and health, the ability to lock in rates for the long term, and providing financial security for your family are key benefits.

How Long Should the Term Be if I Choose Term Life Insurance?

The term length should align with your longest financial obligation, like a 30-year mortgage, or until your dependents are financially independent.

What Happens to My Policy After the Term Ends?

For term life insurance, the policy expires. You can then choose to renew, convert to a permanent policy (if available), or let the coverage end.

Are There Any Additional Riders Worth Considering in Your 30s?

Consider riders like a waiver of premium in case of disability, a critical illness rider, or a conversion rider if you think you might want to switch to a permanent policy later.

Related Articles


Sure, life insurance rates in your 30s may seem daunting. But when you consider the cost of losing a spouse or parent and then having to care for a child on your own, it makes sense that this is one expense we should all take seriously sooner rather than later.

If you’re not sure where to start looking for quotes or how much coverage might be right for you, give us a call at 855-380-3300.

We’ll walk through some different options so you can make an informed decision about what’s best for your needs – without putting off something as important as protecting yourself and those who depend on you most from financial hardship due to death or disability.

More Life Insurance Resources