Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Aug 31, 2021

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The Brief

  • Life insurance for adult children can be affordable and easy to get
  • Life insurance options for adult children are similar even if the parent is paying
  • Buying life insurance for your adult child might require their signature and compliance for a medical exam

Parents looking for affordable financial security could consider looking into life insurance for adult children. Comparing sample life insurance rates could help you find life insurance for your grown child.

Purchasing life insurance is never an exciting task, but it’s necessary. We’ll help expedite protecting your children with life insurance by highlighting types of life insurance, life insurance rates, and more.

In a matter of minutes, you’ll have everything you need to know before you buy life insurance for adult children. For now, use our free quote tool to get personalized rates from life insurance providers near you.

Can I buy a life insurance policy on my adult child?

As your children become older, it’s reasonable to become concerned about their whereabouts and safety. After all, they might be doing things like driving and partying, and the idea of them being out of sight could be unnerving.

Can parents carry life insurance on an adult child? Parents can purchase life insurance for adult children as long as they follow their life insurance company’s underwriting guidelines.

What is required? This will depend on the type of life insurance and the company writing the policy. Sometimes this means your child will have to sign documents, take a medical exam, and more.

As a whole, there are a few things every parent needs to know about life insurance.

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How much will I spend on life insurance for my adult child?

Life insurance rates always vary from company to company and will depend on other variables such as gender and health status. You should be able to find affordable life insurance for adult children, however.

Most life insurance companies offer rates that are cheaper for young adults when compared to older adults. Since “adult children” is a very broad classification, we’ll compare life insurance rates by age.

Average Annual Life Insurance Rates for Non-Smokers
Marital Status, Age & GenderNew York LifePrudentialLincoln National Massachusetts MutualAegon/
Transamerica
John HancockState FarmAverage
Single 25-Year-Old Female$158.00$195.00
$187.00$132.00
$164.00
$172.50
$143.00
$164.50
Single 25-Year-Old Male$152.00$237.00
$231.00
$147.00
$176.00
$178.30
$164.00
$183.61
Married 35-Year-Old Female$164.00$196.00
$191.00
$137.00
$161.00
$178.30
$166.00
$170.47
Married 35-Year-Old Male$160.00
$248.00
$238.00
$151.00
$171.00
$189.80
$175.00
$190.40
Married 45-Year-Old Female$262.00$314.00
$239.00
$209.00
$229.00
$241.50
$238.00
$247.50
Married 45-Year-Old Male$245.00$378.00
$283.00
$230.00
$255.00
$292.10
$239.00
$274.59
Married 55-Year-Old Female$414.00$496.00$435.00
$373.00
$453.00
$407.10
$341.00
$417.01
Married 55-Year-Old Male$696.00$584.00
$615.00
$451.00
$527.00
$533.60
$396.00
$543.23
Single 65-Year-Old Female$924.00$941.00
$903.00
$763.00
$1,139.00
$937.30
$684.00
$898.76
Single 65-Year-Old Male$1,416.00$1,412.00$1,577.00$1,049.00$1,367.00$1,380.00$955.00$1,308.00
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The rates above should help give you an idea of the annual cost of young adult life insurance based on their age. There are more factors to consider such as policy coverage amount.

Average 10-Year Term Sample Rates by Age and Gender for Non-Smokers
Age$100,000 – Male$100,000 – Female$250,000 – Male$250,000 – Female$500,000 – Male$500,000 – Female
25$11.03$10.02$22.10$12.91$23.19$19.04
30$11.12$10.07$15.31$13.02$23.85$19.26
35$11.12$10.07$15.42$13.02$24.07$19.26
40$12.65$11.12$17.94$15.21$29.10$23.63
45$14.57$13.31$21.55$19.69$36.32$32.60
50$18.60$17.20$30.19$27.02$53.60$47.26
55$24.51$20.61$42.88$34.35$78.98$61.91
60$35.88$27.48$71.10$50.86$135.41$94.94
65$51.06$37.76$109.82$75.14$212.85$143.51
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Again, life insurance rates vary due to many factors. The cheapest life insurance rates for adult children will be for younger females with a low policy coverage amount.

You’ll want to shop life insurance quotes for adult children to get the most accurate rates for your situation.

How to Purchase Life Insurance for Adult Children

You should be able to purchase a term life insurance policy for your adult child with almost any life insurance provider. If you want to purchase a policy without them knowing, there might be a few limitations.

Before you purchase a policy, you’ll want to ask yourself a few questions about the life insurance policy. For example:

  • How much do I need?
  • Should I add any riders?
  • Who should be the beneficiaries?
  • What type of policy should I buy?

The policy coverage amount should be based on your child’s worth as well as your financial needs.

Typically, life insurance policies are built around your debts, income, and other monetary factors, according to the Insurance Information Institute.

If you’re purchasing life insurance for your child, you will most likely be the primary beneficiary.

However, you might want to consider a secondary beneficiary in case you and your child get into an accident and neither of you survives.

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As per types of life insurance, this depends on your intent with the policy. If you’re not sure if you could afford a funeral on your own, you could purchase burial or final expense insurance which will be the most affordable month-to-month.

For a larger death benefit at a modest cost, you would want to purchase a term life insurance policy. To help build your child’s savings, a permanent life insurance policy might be the best bet.

My parents took out a life insurance policy on me. Should I be concerned?

It’s not uncommon for a parent to take out an insurance policy on an adult child. Having children is a mentally and financially taxing experience that could raise fears for many as their children start to gain freedom.

If your parent purchased a life insurance policy for you, it’s usually just to protect them financially in case you are involved in some sort of fatal accident.

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Life Insurance for Adult Children: The Bottom Line

Purchasing life insurance for your adult child will depend on the reasoning behind your purchase. Do you want protection from funeral expenses, financial catastrophe, or help them with savings?

It shouldn’t be difficult to buy life insurance for adult children. While you’re here, take advantage of our free quote tool to get instant rates from life insurance providers near you.