Life insurance rates strongly depend on your gender (since women tend to live, on average, longer than men) smoking habits and coverage required. Choose a visual below that is the closet to your situation. Please choose smoker if you stopped smoking but, less than two years ago.
You can also explore the major reasons for people aged 20-29 to get life insurance.
Click on a picture below that best describes your profile…
Life insurance rates for a female, 20-29 years old, non-smoker
Two overviews below show the minimal life insurance premiums for a policy holder of Term 10 and Term 20 insurance products. It means that should the policy owner die during the next 10 / 20 years, the beneficiaries (e.g. family members) will receive the amount stated under the coverage. If a policy holder does not smoke, this will be reflected in the life insurance premiums – they are nearly two times lower than for smoking policy holders.
Approximate rates for a Term 10 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $7 | $7 | $7 | $7 | $7 | $7 | $7 | $7 | $7 | ||
| $200,000 | $10 | $10 | $10 | $10 | $10 | $10 | $10 | $10 | $10 | ||
| $500,000 | $15 | $15 | $14 | $14 | $15 | $15 | $15 | $15 | $16 | ||
| $1,000,000 | $22 | $22 | $21 | $21 | $22 | $23 | $23 | $25 | $26 | ||
Rates from November 2015
Approximate rates for a Term 20 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | ||
| $200,000 | $14 | $14 | $14 | $14 | $15 | $15 | $15 | $15 | $15 | ||
| $500,000 | $22 | $22 | $23 | $23 | $23 | $23 | $23 | $23 | $23 | ||
| $1,000,000 | $40 | $40 | $41 | $41 | $42 | $42 | $43 | $43 | $43 | ||
Rates from November 2015
Do you have a particular pre-condition? Find out more about life insurance with HIV, life insurance with diabetes, life insurance with cancer, etc.
Life insurance rates for a male, 20-29 years old, non-smoker
Two overviews below show the minimal life insurance premiums for a policy holder of Term 10 and Term 20 insurance products. It means that should a policy owner die during the next 10 / 20 years, the beneficiaries (e.g. family members) will receive the amount stated under the coverage. If a policy holder does not smoke, this will be reflected in the life insurance premiums – they are nearly two times lower than for smoking policyholders.
Approximate rates for a Term 10 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $11 | $11 | $11 | $11 | $11 | $11 | $11 | $11 | $11 | ||
| $200,000 | $18 | $18 | $18 | $18 | $18 | $18 | $18 | $18 | $18 | ||
| $500,000 | $34 | $34 | $34 | $33 | $34 | $34 | $34 | $34 | $35 | ||
| $1,000,000 | $60 | $60 | $59 | $59 | $60 | $62 | $64 | $64 | $64 | ||
Rates from November 2015
Approximate rates for a Term 20 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $11 | $11 | $11 | $11 | $11 | $11 | $11 | $11 | $11 | ||
| $200,000 | $18 | $18 | $18 | $18 | $18 | $18 | $18 | $18 | $18 | ||
| $500,000 | $34 | $34 | $34 | $33 | $34 | $34 | $34 | $35 | $35 | ||
| $1,000,000 | $60 | $60 | $59 | $59 | $59 | $62 | $64 | $64 | $64 | ||
Rates from November 2015
Do you have a particular pre-condition? Find out more about life insurance with HIV, life insurance with diabetes, life insurance with cancer, etc.
Life insurance rates for a female, 20-29 years old, smoker
Two overviews below show the minimal life insurance premiums for a policy holder of Term 10 and Term 20 insurance products. It means that should a policy owner die during the next 10 / 20 years, the beneficiaries (e.g. family members) will receive the amount stated under the coverage. Smoker’s insurance rates are approximately two times higher than for those who do not smoke.
Approximate rates for a Term 10 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $9 | $10 | ||
| $200,000 | $15 | $15 | $15 | $15 | $15 | $15 | $15 | $15 | $16 | ||
| $500,000 | $23 | $23 | $24 | $25 | $25 | $26 | $26 | $27 | $28 | ||
| $1,000,000 | $38 | $39 | $41 | $43 | $45 | $47 | $48 | $50 | $50 | ||
Rates from November 2015
Approximate rates for a Term 20 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $12 | $12 | $12 | $12 | $12 | $12 | $13 | $13 | $13 | ||
| $200,000 | $17 | $18 | $18 | $18 | $19 | $20 | $21 | $23 | $23 | ||
| $500,000 | $32 | $33 | $34 | $35 | $36 | $37 | $39 | $41 | $42 | ||
| $1,000,000 | $58 | $59 | $60 | $61 | $64 | $67 | $70 | $74 | $77 | ||
Rates from November 2015
Do you have a particular pre-condition? Find out more about life insurance with HIV, life insurance with diabetes, life insurance with cancer, etc.
Life insurance rates for a male, 20-29 years old, smoker
Two overviews below show the minimal life insurance premiums for a policy holder of Term 10 and Term 20 insurance products. It means that should a policy owner die during the next 10 / 20 years, the beneficiaries (e.g. family members) will receive the amount stated under the coverage. Smoker’s insurance rates are approximately two times higher than for those who do not smoke.
Approximate rates for a Term 10 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $14 | $14 | $14 | $14 | $14 | $14 | $14 | $14 | $14 | ||
| $200,000 | $23 | $23 | $23 | $23 | $23 | $23 | $23 | $23 | $23 | ||
| $500,000 | $44 | $44 | $43 | $43 | $44 | $44 | $44 | $45 | $45 | ||
| $1,000,000 | $81 | $81 | $81 | $82 | $83 | $84 | $85 | $85 | $86 | ||
Rates from November 2015
Approximate rates for a Term 20 life insurance policy
| Age, years | |||||||||||
| Coverage | Your age is… -> | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Coverage valid until age of …-> | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | ||
| $100,000 | $17 | $17 | $17 | $17 | $17 | $17 | $18 | $18 | $18 | ||
| $200,000 | $29 | $29 | $29 | $29 | $30 | $30 | $31 | $32 | $32 | ||
| $500,000 | $59 | $60 | $60 | $60 | $60 | $61 | $63 | $64 | $66 | ||
| $1,000,000 | $99 | $99 | $100 | $101 | $102 | $104 | $107 | $110 | $113 | ||
Rates from November 2015
Do you have a particular pre-condition? Find out more about life insurance with HIV, life insurance with diabetes, life insurance with cancer, etc.
4 Main Reasons to get Life Insurance When you are 20-29
1. Your children: In many cases you are a young mother / father and have a baby(ies) / child(ren) to take care off. Raising a child is an expensive undertaking – on average it takes approximately $250,000 to raise a child in Canada to the age of 18 – read more about this in our life insurance article here. You want to make sure that if anything happens to you, they are financially secure.
2. Your parents: It is a good idea to protect your parents, should something happen to you and you are expected to become their supporters in the future. Extremely low insurance rates will easily get you extensive coverage (e.g. $1,000,000 or $2,000,000) that is very affordable.
3. Mortgage: You probably have your first house and have a large mortgage to take care of (even if you purchased a condo – e.g. an average price of a one bedroom apartment in Toronto is around $330K and for a two bedroom apartment it reaches $450K – check out our article on average condo prices in Toronto). You want to make sure that a mortgage is paid off should anything happen to you so that your assets will not be collected by a bank. This will also help to avoid additional financial burdens on your family if anything happens to you.
4. Other debt: You might have accumulated some debt that someone needs to take care of if anything happens to you. Examples of such debt could be car loan(s), credit card debt, lines of credit etc. A little bonus – should you get life insurance, you can easily cancel such unnecessary and expensive products like creditor insurance or balance protector on your credit cards.
