Shopping for the Best Cheap Life Insurance Providers for 26-Year-Olds

Buying life insurance is not usually something you think about in your twenties, but depending on your circumstances, it might be a good idea and worth purchasing a policy sooner rather than later. Twenty-six-year-olds are often at the beginning of their careers and different life stages when it comes to marriage and family. You may not have others to care for yet, but things can change in the years to come.

Choosing to buy a life insurance policy at 26 can help you ensure you protect your future loved ones and save a significant amount of money on monthly premiums. While you have your plans for what the future holds, there is a lot of uncertainty and that is what life insurance is there to protect. As you get older and creep into your 30s, life insurance premiums are likely to increase. You may face health problems or other issues that can cause life insurance premiums to be much more costly to you. When you buy a policy at a young age, such as 26, you can lock in a great premium for the period you choose.

Once you choose to purchase life insurance, you can have a policy in effect in just a short amount of time. Take the time to browse your options, weigh the benefits, and investigate cheap life insurance providers for 26 year olds that fit within your budget and coverage needs.

Steps to Investing in a Cheap Life Insurance Provider for 26-Year-Olds

Most reputable life insurance companies offer easy online tools to help you get an estimate of your monthly premium and individualized quote. Visit the website of the company which you want to learn more about and answer some questions so that they can build a quote for you. It is also a good idea to review what the company will ask of you.

Many companies offering life insurance policies for younger individuals may proceed without the need to complete blood work or physical exams, but for some policies, it may be a requirement for coverage.

First Consider What Type of Life Insurance You Are Interested In

As you begin shopping around for life insurance coverage, it is important to distinguish between the two main policy options: term life insurance or whole life insurance.

Term life insurance is just as it sounds. You will pay for coverage for a certain period with a set start and end date. Once your policy expires, you will have to buy a new policy for coverage in the event of your death.

A whole life insurance policy, on the other hand, can last for the entirety of your life. Each month your payments will not only cover the event of your death if it should occur but will also grow in value as an investment.

Which policy is best for you will likely come down to your budget and what you are looking for from your life insurance policy. In many cases, term life insurance is the better option for the budget-conscious consumer that does not have a lot to spare each month but wants to make sure their loved ones are taken care of in the event of their death. Whole life insurance is a good option for those that want to lock in their premiums for the remainder of their life and have some investment component along with their coverage. The premiums for whole life insurance are often significantly higher than term life insurance, but that is also because the coverage is for a lifetime and the policies are also at least partially a cash investment.

Second Comparison Shop

Do not feel the pressure to purchase the first policy you get a quote on. Take notes and jot down the stats for each provider of cheap life insurance for 26-year-olds. This will help you compare the policy to others that you research. You can make comparison shopping easier to do by clicking below. In just one afternoon, you can browse several policies and have a good variety of options to make the best choice for you

Choose the Plan That Best Fits Your Needs

Make a list of your priorities as you compare the life insurance policies you find online. Whether it is the monthly budget, the length of the policy, or the policy amount, make sure you understand what each quote offers and whether it is the best fit for you and aligns with your life insurance needs.

Father holding his daughter on shoulders and laughing.

6 Cheap Life Insurance Providers for 26-Year-Olds

Sproutt

Sproutt

Sproutt uses a custom questionnaire to check what they refer to as your Quality of Life Index. Based on your answers, the online tool will calculate your quote estimate and the companies with which you can get cheap life insurance coverage for 26-year-olds. Sproutt offers term life insurance options that begin with 100,000 coverage and 10-year terms up to 30-year terms and higher policy coverage. Sproutt values healthy lifestyles and their series of questions are intended to help reward individuals that make healthier life choices with competitive life insurance rates and terms.

With average health and no medical exam Sproutt quote examples:

  • 26-year-old Females can expect a cost of:
    • $14 per month for $250,000 coverage 20-year term life insurance with SBLI
    • $21 per month for $500,000 coverage 20-year term life insurance with SBLI
    • $29 per month for $750,000 coverage 20-year term life insurance with SBLI
  • 26-year-old Males can expect a cost of:
    • $19 per month for $250,000 coverage 20-year term life insurance with SBLI
    • $30 per month for $500,000 coverage 20-year term life insurance with SBLI
    • $44 per month for $750,000 coverage 20-year term life insurance with SBLI

SelectQuote

SelectQuote

This life insurance sales company represents the applicant to find you the best possible life insurance coverage and rates on the market. If you are looking to learn about term life insurance or whole life insurance, SelectQuote is a great option to see what your best options are. They offer both types of life insurance policies and allow you to convert from term to permanent life insurance if you want that option to do so in the future. With SelectQuote, you are not tied to any one company, and they can help tailor a life insurance policy specifically to your situation and needs with some of the most well-known names in the business, such as Pacific Life, Mutual of Omaha, SBLI, Prudential, and AIG. They offer higher limit policies and options that may not be available with no medical exam policies and other instant quote policies online.

Ladder

Ladder

Offering only term life insurance, Ladder life insurance teams up with three underwriting partners to provide applicants with a variety of options for their life insurance needs. Their online process is straightforward, and you can have a policy with just a few questions and minutes of your time.

A 26-year-old woman with average health can expect to pay approximately:

  • $15 per month for a 30-year term life insurance policy of $100,000
  • $35 per month for a 10-year term life insurance policy of $1.5 million
  • $134 per month for a 10-year term life insurance policy of $8 million

A 26-year-old man with average health can expect to pay approximately:

  • $18 per month for a 30-year term life insurance policy of $100,000
  • $40 per month for a 10-year term life insurance policy of $1.5 million
  • $154 per month for a 10-year term life insurance policy of $8 million

Bestow

Bestow

In just a few seconds, you will have a quote for term life insurance with Bestow. This company offers life insurance coverage for $50,000 policies up to $1.5 million. There are no medical exams required for the application or approval of coverage with Bestow, which allows applicants to get coverage quickly and easily from the comfort of home, with same-day coverage available.

A 26-year-old woman with average health can expect to pay approximately:

  • $10 per month for a 10-year term life insurance policy of $500,000
  • $25 per month for a 20-year term life insurance policy of $1 million
  • $59 per month for a 30-year term life insurance policy of $1.5 million

A 26-year-old man with average health can expect to pay approximately:

  • $22 per month for a 10-year term life insurance policy of $500,000
  • $41 per month for a 20-year term life insurance policy of $1 million
  • $101 per month for a 30-year term life insurance policy of $1.5million

Fidelity

Fidelity

A name most commonly associated with investment options, Fidelity also offers various insurance products that are appealing to a young 26-year-old looking for a cheap life insurance provider. The company offers term life insurance or universal life insurance coverage. Whole life insurance, however, is not available through Fidelity. For information and options that relate to universal life insurance, you will need to call to discuss your needs and options with a Fidelity agent. If you are looking for term life insurance you can complete their easy online questionnaire and process for a quick quote and comparison options.

Quote examples with Fidelity:

  • 26-year-old Females can expect:
    • $250,000 policy for a 10-year term quotes for $14 per month
    • $350,000 policy for a 15-year term quotes for $19 per month
    • $500,000 policy for a 20-year term quotes for $28 per month
  • 26-year-old Males can expect:
    • $50,000 policy for a 10-year term quotes for $15 per month
    • $350,000 policy for a 15-year term quotes for $21 per month
    • $500,000 policy for a 20-year term quotes for $31 per month

Lemonade

Lemonade

A rising name for insurance options is Lemonade. Founded in 2015, the company's various insurance offerings at a low cost are becoming a popular choice, particularly amongst younger consumers. You can fill out a quote, apply and get an answer in just a few minutes online. If you are looking for fast life insurance coverage at a cheap price, this is an option you should consider. The company offers only term life insurance and never requires a medical exam for applicants. Rather, you will answer a series of questions that relate to your health and lifestyle to determine your monthly life insurance premiums.

Quote examples with Lemonade:

  • 26-year-old Females can expect:
    • $100,000 policy for a 10-year term is$7 per month
    • $300,000 policy for a 20-year term is $12 per month
    • $1,500,000 policy for a 30-year term is $59 per month
  • 26-year-old Males can expect:
    • $100,000 policy for a 10-year term is $10 per month
    • $300,000 policy for a 20-year term is $19 per month
    • $1,500,000 policy for a 30-year term is $101 per month

When you choose to buy life insurance as a 26-year-old, you are making an important decision for the future of your loved ones. Researching your options and taking the time to get various quotes can help you narrow down the best value and benefits for you. It is relatively simple for a 26-year-old to find cheap life insurance providers that are willing to work with you and offer you great rates and premiums.

Post ID: DY55Qkd27 Category ID: WMweqBQ