What is the best life insurance for young adults?
Key takeaways
You can take out life insurance once you’re 18 or over and it’s generally cheaper to take it out while you’re younger – as premiums are based (among other things), on age and health
Life insurance is beneficial at any age, especially if you have financial dependents or a mortgage
As well as age and health, premiums depend on lifestyle choices, such as whether you smoke, along with the level of cover you choose
How old do you have to be to take out life insurance?
The minimum age to take out a life insurance policy in the UK is 18 years old. That said, if you're under 18, your parents can take out life insurance and add you to their policy as a child.
Is it worth getting life insurance at 18 or in your early 20s?
While you can take out life insurance from age 18, whether or not you actually need it depends on your personal circumstances, such as whether you have financial dependants or specific long-term financial commitments.
It’s important to consider your family situation, financial responsibilities, and future goals when deciding if cover is right for you.
Just bear in mind one key advantage of taking out life insurance at a younger age is the fact premiums are typically lower. This is because policies are priced based on factors such as age and health.
When should you start thinking about life insurance?
You should consider taking out life insurance as soon as you take on any financial commitments, like a mortgage, or when you get married or have children; life cover is particularly important if you’re considering starting a family.
Some mortgage lenders may recommend that you take out some form of mortgage life insurance when buying a property, as a way to help protect your mortgage repayments if you were to die during the term. This reduces the financial risk to your dependents and ensures the loan could still be repaid.
Marriage or having children are other pivotal moments in life when you might start to consider the financial future of your loved ones. The thought of leaving a spouse or children without support is daunting, and life insurance can offer the peace of mind of knowing that they’ll be taken care of financially when you’re no longer around.
A recent nationally representative survey of 2,000 policyholders found that only 48% knew they could access their life insurance early if diagnosed with a terminal illness. That means more than half of us could be missing out on support that’s already available to us. This also highlights how important life insurance could be if you develop a terminal illness at any age.*
Am I too young for life insurance?
No. While it’s perhaps more common to take out life insurance when you’re a little older – with people tending to start settling down and buying houses, getting married and having children in their 30s – if you’re aged 18 or over and someone else relies on you financially, then you’re not too young for life insurance.
Ask yourself the following questions before getting life insurance:
Do you own or rent a property?
Are you married or in a civil partnership?
Do you have children? Or plan to have them soon?
Does your partner or any other family members rely on your income?
If you answered yes, then it's a sensible idea to take out a life insurance policy.
How much does life insurance cost for young adults?
According to MoneySuperMarket, the average price for someone aged 18-49 (sold in April) was £31.04.
Life insurance premiums can be as low as £2.75
What factors can affect the cost of life insurance premiums?
Several factors influence the cost of life insurance, including:
Your job
High-risk or stressful jobs can lead to higher premiums
Health indicators
Your height and weight are considered when pricing policies
Lifestyle choices
Medical history
Pre-existing conditions must be disclosed and can affect the cost of your policy
Hobbies
Engaging in dangerous activities can influence both the availability and cost of insurance
Policy type and term
Certain policies may be more affordable than others. For example a decreasing term policy is likely to be cheaper than a level term policy as the payout reduces over time.
Is it cheaper to get life insurance at a younger age?
Yes, typically the younger you are, the less you’ll pay for a policy. This is because insurers view younger policyholders as less of a risk, which translates into lower premiums for the same level of cover.
However, other factors do come into play. It's also worth weighing up whether or not you actually want to pay for life insurance over such a long period when you may not necessarily need it yet.
MoneySuperMarket currently partners with 16 life insurance providers
How much cover would a young adult usually need?
There’s no fixed amount. If you have dependants or shared debts, cover is often based on income, outstanding loans, and living costs. Without these, lower or no cover may be appropriate.
What is the average age for taking out life insurance?
Typically, people tend to take out life insurance when they are in their 30s and early 40s, as it’s often linked to buying a home, having children, or taking on significant financial commitments.
What’s the best type of life insurance policy for young adults?
There are different types of life insurance policies to consider when you're a young adult:
Level term life insurance
The coverage and benefits stay the same throughout the policy term. This includes the premium (the amount you pay for your policy) and the cash sum payout.
Decreasing term
A form of life insurance that has a decreasing payout over the policy term, typically used to protect a repayment mortgage or debt that may be passed on to your loved ones.
Joint life insurance
Works in the same way as a single life insurance policy, but it can cover two people under the same policy. It is designed mostly for married couples, long-term partners, and business partners.
Whole of life insurance
Also known as life assurance, whole of life insurance, this is a type of policy that ensures a payout throughout your entire life. As long as you keep up with your premiums, your family will receive a lump sum payout once you die.
Critical illness cover
You can opt to add this onto your life insurance policy, or you can buy it as a standalone product. Critical illness cover will pay out a tax-free lump sum if you are diagnosed with a specific illness or medical conditions listed on your policy, such as heart attack or cancer.
According to MoneySupermarket, 1468 people who purchased through the site in April 2026 took out combined ‘life insurance and critical illness cover’.
Life insurance with pre existing medical conditions
This covers pre-existing medical conditions you if you have a medical condition when you apply for a policy. It works in a similar way to standard life insurance, but the cost and coverage will depend on your medical history.
Can I take out life insurance before I have children or a mortgage?
Yes. Some people choose to do this to lock in a lower price while they’re young and healthy. However, it’s not always necessary, and the cover amount may need adjusting later.
Do I actually need life insurance if no one depends on me financially?
If you don’t have dependants or shared financial commitments, life insurance may not be essential yet. It usually becomes more relevant when someone relies on your income or you take on joint debts, such as a mortgage.
What happens to my policy if my circumstances change?
Most policies stay in place, but you may need to review your cover if you:
Move in with a partner
Have children
Take out a mortgage
Change jobs or income
You can usually take out additional policies rather than replacing your existing one.
Does life insurance cover student loans or other debts?
While life insurance can provide money that beneficiaries may use to repay debts, it doesn’t automatically clear them. In England student loans are usually written off on when the borrower dies, so life insurance is rarely needed specifically for this purpose.
Can I get life insurance if I have a medical condition?
Yes you can. Some conditions may increase the cost or affect cover, but many young adults with pre- existing conditions can still get life insurance, especially if the condition is well managed.
Can I cancel life insurance if I no longer need it?
Yes. Most life insurance policies can be cancelled at any time. With term life insurance, your cover will end, and you will not usually receive any refund of the premiums you have paid. By contrast, some whole-of-life policies may have a ‘cash-in’ or ‘surrender value,’ though this is not guaranteed.
Equally, most young adults will buy term life insurance (rather than whole-of-life cover), so cancelling will simply mean stopping the cover and future premium payments.
Compare life insurance quotes for young people
Getting life insurance as a young adult is straightforward with MoneySuperMarket. You can compare life insurance deals for young adults and find a policy that matches your needs and budget.
When using MoneySuperMarket, you'll need to provide some personal details and information about your circumstances. This helps to ensure that the offers you receive are tailored to your specific situation, making it easier to find the right life insurance policy for you. But the whole process is quick and easy – saving you both time and money.
Sources:
* MoneySuperMarket commissioned a nationally representative survey of 2,000 adults who currently hold a life insurance policy. All data correct as of October 2025.
Author
Esther Shaw
Money expert
Esther Shaw is an award-winning consumer, financial and property journalist with more than two decades of experience. As a freelance writer, she regularly contributes to a range of national titles...
Reviewer
Beth Leslie
Senior Insurance Content Editor
Beth is an experienced writer and editor who specialises in financial and economic content. She is currently the Senior Insurance Content Editor for MoneySuperMarket. Beth is passionate about making...
