What Is The Best Life Insurance For A 30 Year Old In 2019?

Oct 15, 2019 (0) comment

best life insurance for 30 year old

​Now that you are in your 30’s the idea of needling life insurance is probably becoming more and more important, but figuring out what the best life insurance is for you can be difficult.

But the truth is that:

You need to figure this out sooner rather than later because your family’s financial future depends on it.

best life insurance for 30 year old

In this post I will go over which type of life insurance for 30 year old is best, why it is the best and how to get covered fast and move on with your day.

​In This Article

The Best Life Insurance Policy For 30 Year Old

​If you are in your 30’s there is no type of life insurance better than a no medical exam term life insurance policy and here is why:

Easy & Instant Approval Process

As millennials, the one thing we hate the most is waiting for stuff.

We have our movies on demand (Netflix) we order all of our daily products on demand (Amazon), and we want our answers in an instant (Google).

Traditionally, getting approved for life insurance has taken up to 75 days which I can’t imagine anyone of us waiting on.

With a no exam policy you can:

  • ​get instant quotes
  • ​apply for coverage Online
  • ​Get Approved Instantly
  • ​Pay For Coverage Immediately  

​Affordable Rates

You might not realize it, but the younger you are when you purchase life insurance, the more affordable your life insurance will be.

Life insurance without an exam has become much more affordable because the insurance companies have created proprietary underwriting systems that focus on real-time underwriting.

These newer companies also have much lower operating costs, which allows them to pass on savings.

No Exam & No Phone Interviews

Since you can avoid both the exam and a telephone interview, you get to avoid all of the issues the life insurance buying process used to have.

If you apply for a life insurance policy that requires an exam, you are at the minimum looking at a 2 week turn around time.

If you add the phone interview just make it 3 weeks before the underwriters at the company have all of the information they need to try and make a decision.

Just imagine how mad you would have been if Winter took 10 seasons to come in Game Of Thrones.

Eventually, no one would want to hear that it was coming anymore.

With a no exam policy, you get an instant decision and if approved, instant coverage.

No Sales Agents Or Calls

When I was selling life insurance, before I started this blog, you would literally have to tell me to stop calling you.

Otherwise, I treated you like you still wanted the coverage.

By the time I was finished with you, there probably had been over 100 other agents that had called as well.

While there are some instances where you probably need to talk to an agent.

However, when you are healthy and in your 30’s, you can seriously do a bit of research and purchase your policy online without an agent.

I even have a post that will teach you everything about term life insurance if you are new to life insurance in general.

​Whole Life Vs Term Life

You have probably read about the battle of whole life and term life, but honestly, in your 30’s there is absolutely no reason to buy a whole life policy.

Check out the differences between each product below, and it’s easy to see why over 40 personal finance experts chose term life over whole life:

​Whole Life

  • ​Builds Cash Value
  • ​Last Your Entire Life
  • ​Up to 30 times more expensive 
  • ​more complicated product

​Term Life

  • ​Much More Affordable
  • ​Last For A Specific Term Length
  • ​Doesn't Build Cash Value
  • ​easy to understand

​Fully Underwritten Vs No Exam Insurance

There are two types of term life insurance, Exam and ​No Exam term life insurance.  

From ​my experience, a life insurance policy that doesn't require an exam will always be a bit more expensive than​ a traditional term life insurance ​policy.  

This trend is changing; however, in some cases the ​no exam product is coming out to be more affordable than the products that require an exam. 

​Below is a chart showing the differences between the two: 

Fully Underwritten

  • ​Up To 3 Weeks For Approval
  • ​Medical Records Requested
  • ​Medical Exam Required
  • ​Can Have Lower Rates

​No Exam

  • ​Instant ​or Next Day Approval
  • ​No Medical Records Requested
  • ​No Medical Exam Required
  • ​A Bit More expensive Between the two

​Best Life Insurance Company For A 30 Year Old

While there are some excellent no exam term life insurance companies to choose from, we haven't found any better than Canada Protection Plan.

Check out our quick overview of them below:

Canada protection plan

About Canada Protection Plan

Canada Protection Plan, known as CPP is backed by Foresters Life Insurance Company.

Foresters has been around for over 140 years and as of today Foresters holds an A (Excellent) rating with A. M. Best.

CPP is known for their no exam and simplified issue life insurance products in Canada. 

Their primary goal is quick applications with a ton of benefits included.

Product Features

  • Available for ages 18 through 80
  • Coverage amounts from $50,000 to $1,000,000
  • No physical exam life insurance
  • Tobacco & Non Tobacco Rates
  • E-Signature & Simple Application Process
  • No Waiting Period
  • Accelerated Underwriting

Riders & Options

  • Accidental Death Benefit (Optional)
  • Child Term Benefit (Optional)
  • Hospital Cash Benefit (Optional)
  • Terminal Illness Benefit (Included)
  • Transportation Benefit (Included)

Simply Insurance Thinks

Canada Protection Plan is the most affordable simplified issue, no physical exam term life insurance product.  They have a very easy online application and the process doesn't require an agent. 

​Taking Action

I know that life insurance can be scary to think about, and in general, a very dull topic.

However, it is essential that you find the best life insurance for 30 year old because you and your family will need it. 

You can’t let procrastination stop you from getting covered, all you have to do is click the link above to get started.

You are probably about to have kids, buy a house, start a business, or even get married.

So, don’t waste another second without life insurance because the night is dark and full of terror.

Sa El is the Co-Founder & CEO of Simply Insurance. He is a Licensed Life and Health Insurance Agent with over 11 years of experience in the industry. He is an Entrepreneur, Insurance Educator and Field Underwriter. Sa is on a Journey to get 1 Million Families insured.

All posts by Mark Mathon

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