Best Age to Buy Term Life Insurance

Shawn Plummer

CEO, The Annuity Expert

Factors Influencing the Best Age for Purchasing Term Life Insurance

  1. Health and Age Correlation: As individuals age, their risk of developing health conditions increases, leading to higher mortality rates. This risk impacts life insurance rates, making them higher with advancing age.
  2. Cost Comparison at Different Ages: Typically, life insurance costs are lower for younger individuals. For instance, a policy purchased at 25 is generally less expensive than one purchased at 40.
  3. Impact of Aging on Rates and Options: Delaying the purchase of life insurance until 60 can result in significantly higher rates and fewer policy choices.

Why Most People Choose Term Life Insurance

  • Cost-Effectiveness: Term life insurance is often more affordable than permanent life insurance options.
  • Alignment with Life Stages: Many opt for a term policy that concludes around retirement age. This timing usually coincides with children becoming financially independent, reducing the need for support in case of the policyholder’s early demise.

Ideal Age Range for Term Life Insurance Purchase

  • Early Adult Years (20s to Early 30s): Lower insurance rates, better health, and the start of financial responsibilities make this an optimal time.
  • Mid-Life (30s to 40s): Although rates are higher than in the 20s, it’s still a favorable time, especially for those who have started families or acquired significant debts (like a mortgage).

Comparative Analysis of Term Life Insurance Costs by Age

Age RangeAverage Monthly PremiumHealth Factor InfluencePolicy Options
20sLowestMinimalMost Extensive
30sLowModerateWide Range


The best age to buy term life insurance is typically during your early adult years, extending into your mid-life. Purchasing insurance at a younger age secures lower rates and more policy options. This strategic planning ensures that by the time you reach retirement, your financial responsibilities, such as supporting children, are likely to have decreased. Understanding the balance between age, health, and insurance costs is crucial in making an informed decision.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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