When you get into your thirties you have your career set and an Idea of who you are.

But here's the thing:

Most people in their 30's don't have a life insurance policy because they think it is too expensive or they think they don't need it.

However, the older you get, the higher the probability you will need life insurance.

life insurance for 30 to 39 year olds

In this post today, I will help you understand why you need life insurance in your 30's, what determines the pricing and how to get the most affordable rates

I'm In My 30's Why Do I Need Life Insurance?

Now that I am in my 30's I have been contemplating purchasing additional life insurance because my needs are changing.

My husband and I are working on kids and this also means our need for life insurance and just overall insurance will be changing soon. 

It is essential that are kids are taken care of and since we are young now it is the best time to purchase additional coverage so that when they are born, all we need to do is add them as beneficiaries. 

The best thing about life insurance is that you can add beneficiaries whenever you want.

There are a ton of reasons why you should buy a term life insurance policy in your 30's but just think about these few things: 

Getting Married

Are you planning to get married in your 30’s or early 40’s?

You are probably going to be taking on debt such as credit cards, a car payment or have an outstanding mortgage

You might even be a two mortgage family.  

This can really leave your partner in a financial mess if you die suddenly.

These obligations don’t just go away – they have to be satisfied and your spouse may not be in a situation where they can't cover everything.

Having Kids

Having kids is a huge responsibility and they rely on you for everything, just imagine if you were to pass away without leaving them any type of financial security, what would their future look like?

Having A Business

Having a business is like having a Kid, in the beginning it will require everything from you, time, money, love, like I said... everything.

If you are a key person in this business you are probably going to need to make sure the financial obligations in your business are covered and a life insurance policy will probably protect you the most.

A Lot Can Change in 30 Years!

Can you imagine right now what your life will look like in 30 years? 

When you are in your 30's, you probably have kids, have already gotten married, and probably have a mortgage.

But what do you think life will look like in 30 Years?

Will you still be alive? Will all your debts be paid down? Will you still be supporting the kids? Hell, will you be living with your kids? 

Having a strong insurance plan in motion is critical and no matter what happens, if you have life insurance you can insure that they have a better financial future.

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

Why Your Health Rating Matters With Term Insurance

One of the largest determining factors in your final life insurance rate will be your health.

The main reason I tell my customers that are in their 30's to get life insurance is because they are young, healthy and it is much easier to qualify for the best health rating.

The longer you wait to get covered, the higher the chances that some health issues could come up.

Also, the older you get, the more expensive your premiums are going to be. 

Just remember, not all companies are going to treat you the same and some will require exams while others won't.

How Health Ratings Work

Preferred Plus Rating

A preferred plus health rating is going to give you the lowest monthly premium for any life insurance policy and is only going to be offered to people with the best health situations.

For Example:

  • 25 year old non-smoking male, 500K in coverage with a 30 year term
  • $32.00 per month

Preferred Rating

The preferred health rating is going to be for people with a really good health rating and is the second most affordable life insurance health rating.

For Example:

  • 25 year old non-smoking male, 500K in coverage with a 30 year term 
  • $41.00 per month

Standard Rating

The standard health rating is going to be the most common type of approval in the life insurance industry and is geared toward people who might be taking a few prescription drugs.

For Example:

  • 25 year old non-smoking male, 500K in coverage with a 30 year term 
  • $65.00 per month

Sub Standard Rating

A sub-standard health rating is going to give you one of the most expensive life insurance rates.

In addition to that, adding tobacco usage is going to take your premiums 65% or more even higher.

For Example:

  • 25 year old smoking male, 500K in coverage with a 30 year term
  • $134.00 per month!

As you can see, if your lifestyle is unhealthy it can really hurt you when it comes to your life insurance premiums.

The numbers don’t lie. Maintaining your health and non-smoking status will save you a Ton of money.

Figuring out how much life insurance you need is essential, if you don't get enough coverage it can ruin your family's financial future. 

If you are in your 30’s, you’re probably buying life insurance for income replacement later in life.

It's important to be very honest about what you think your needs are going to be over the coming decades.

To get a better answer on the amount of life insurance you will need for your family, use our life insurance needs calculator to help you decide!

Term Life Insurance Quotes For 30 to 39 Years Old

I am pretty sure you didn't expect to see such affordable rates, but most of us will overestimate the price life insurance.

If you paid close attention you will notice that the rates for people between the ages of 30 and 34 don't change much.

  • Male

  • Female

Sample rates below are based on a 20-year term for a healthy non-smoking male in excellent health. You will also notice that rates stay the same up to a specific age range.

AGE

$100,000

$250,000

$500,000

$1 MILLION

30 Years Old

$9.60

$14.05

$20.62

$35.23

31 Years Old

$9.60

$14.05

$20.62

$35.23

32 Years Old

$9.60

$14.27

$21.05

$36.09

33 Years Old

$9.60

$14.27

$21.05

$36.09

34 Years Old

$9.60

$14.93

$22.34

$38.68

35 Years Old

$10.04

$14.93

$22.34

$38.68

36 Years Old

$10.39

$15.81

$24.05

$42.11

37 Years Old

$10.92

$16.91

$26.03

$46.07

38 Years Old

$11.54

$18.23

$28.13

$50.26

39 Years Old

$12.13

$19.55

$30.59

$55.18

These Quotes are presented in a monthly premium format. Valid as of 09/19/18. The above quotes are for a non-smoker in excellent health and are subject to changes.

This is because insurance companies know that your probability of passing away are very low if you are in this age group.

You can get $250,000 in life insurance for less than a Netflix Subscription or your daily coffee from Starbucks.

INSURANCE WHERE YOU LIVE

Life insurance by state.

Top Life Insurance Companies While In Your 30's

We compare the Top 10 Life Insurance companies that are best for you in your thirties and we also review each of them individually, you can check out their reviews below.

Don't Overestimate The Cost Of Life Insurance

There are far too many stories on the news about young families being hit with two types of unexpected losses.

The first loss comes in the form of losing their loved one and the second comes in losing their financial future.

The amount of people asking for burial help on places like GoFundMe is pretty ridiculous, especially since life insurance is super affordable.

If you had purchased a term policy at 35, knowing you were going to get married that year, everything would be different.

Unfortunately far too many people overestimate the cost of life insurance.

A 35 year old female, non-smoker in good health (preferred rating) would pay about $19.33 per month for 500K in coverage for 20 years. That’s less than $.65 per day!

So, if you have any type of subscription plan to anything there isn't any excuse to not have life insurance.

THE SIMPLY INSURANCE WAY

Life Insurance made easy.

Agents not required.

Get quotes and sign up online without talking to an agent. But, we are here if you need us. 

Unbiased, expert advice.

Get unbiased insurance education from licensed experts and also avoid dodgy sales calls.

Coverage in minutes.

You can get life insurance coverage within minutes of getting your quotes and applying.

What If My Employer Offers Life Insurance?

If you are working, one of the first things you probably thought about was the fact that you have life insurance through your job.

However, there are a few things that come with life insurance through an employer and they are: 

Only 1X Your Income

One of the major issues that I see from employer offered life insurance is that if it is free, you usually get only 1X (one times) your annual income in coverage.

This isn't going to be nearly enough to support a growing family if you were to pass away unexpectedly.

If you are in school and your parents co-signed on a loan for you, it wouldn't be enough to cover your burial and pay off student loans either.

Cost Won't Be As Affordable

If you have to pay for your life insurance through your job, chances are that you are going to be paying a higher rate for lower coverage.

This is primarily because the insurance company rates your entire staff and comes up with a price based on average health.

Individual life insurance policies only underwrite you and give you the ability to get a much more affordable policy.

It Won't Come With You

Let's be honest, you probably aren't going to be with the same employer from the beginning of your career to the end of your career.

Hell, I have had over 24 jobs and I am in my 30's, most of us just won't stay put and it is essential that you consider than when getting life insurance at your job.

A study showed that over 75% of companies expect to retain college graduates for less than 1 year and a survey from Career Builder showed that 45% of all employees expect to be with their employer for less than 2 years.  

If you are a healthy young adult you are probably going to be able to get life insurance for much cheaper than through your job.

I say take the free insurance if your job offers it and also purchase your own separate policy.

Taking Action

Hopefully you now understand why you need life insurance in your 30's.

If you don't have coverage on yourself you are putting your family and loved ones financial future at risk.  

Term life insurance is one of the most simple products and it is super affordable.  

While it's fun to think we will live forever, the truth is that we all will eventually pass away, the best thing we can do is protect our family when it happens.

You should click the button to your right or the one above to get a quote and get your coverage started.


Sa El

About the author

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 11 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also an Official Member of the Forbes Finance Council, a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.


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