It's common now for young adults to consider life insurance for themselves. The younger you are, the better the terms and the lower the premium costs when it comes to term life insurance
For 22-year-olds, life insurance costs are particularly attractive – but how much is the coverage available and what is the process to getting it? In this article, we'll explore the process of getting a term life insurance policy and the factors that affect the cost of premiums at this age.
Burial Insurance
20-Year Term Life Insurance Cost (Men; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Men | No | 20 Years | $25,000 | Mutual of Omaha | $9 |
| 22 | Men | No | 20 Years | $50,000 | Mutual of Omaha | $12 |
| 22 | Men | No | 20 Years | $100,000 | Prosperity Life | $18 |
| 22 | Men | No | 20 Years | $250,000 | Prosperity Life | $35 |
This table provides an overview of the cost of 20-year term life insurance for men of age 22 who do not smoke. Specifically, the rates provided by Mutual of Omaha for coverage amounts of $25,000, $50,000, and $100,000 are $9, $12, and $18, respectively
Prosperity Life also provides coverage for $250,000 for the same term and age group for $35 per month.
30-Year Term Life Rates (Male; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Men | No | 30 Years | $25,000 | Mutual of Omaha | $10 |
| 22 | Men | No | 30 Years | $50,000 | Mutual of Omaha | $14 |
| 22 | Men | No | 30 Years | $100,000 | Prosperity Life | $22 |
| 22 | Men | No | 30 Years | $250,000 | Prosperity Life | $44 |
This table provides monthly rates for males age 22 who are non-smokers for a 30-year term life insurance policy. The coverage amounts range from $25,000- $250,000
Mutual of Omaha provides rates of $10 and $14 respectively for $25,000 and $50,000 coverage. Prosperity Life offers rates of $22 and $44 respectively for $100,000 and $250,000 coverages.
20-Year Life Insurance Pricing (Male Tobacco; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Men | Yes | 20 Years | $25,000 | Mutual of Omaha | $13 |
| 22 | Men | Yes | 20 Years | $50,000 | Foresters | $17 |
| 22 | Men | Yes | 20 Years | $100,000 | Foresters | $29 |
| 22 | Men | Yes | 20 Years | $250,000 | Americo | $63 |
The table above shows the pricing of 20-year life insurance policies based on the age, gender, smoking status, term, and coverage amount of the policyholder. The table demonstrates the policy costs for male policyholders aged 22 who smoke, and have chosen coverage amounts of $25,000, $50,000, $100,000, and $250,000
The rates are provided by the companies Mutual of Omaha, Foresters and Americo. Mutual of Omaha’s coverage of $25,000 comes with a monthly rate of $13, while Foresters’ $50,000 policy has a rate of $17 and a $100,000 policy incurs a cost of $29. The most expensive rate in the table is for Americo’s policy with a coverage of $250,000, at a cost of $63 per month.
Burial Insurance
30-Year Term Rates (Male Smokers; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Men | Yes | 30 Years | $25,000 | Mutual of Omaha | $14 |
| 22 | Men | Yes | 30 Years | $50,000 | Foresters | $22 |
| 22 | Men | Yes | 30 Years | $100,000 | Americo | $37 |
| 22 | Men | Yes | 30 Years | $250,000 | Americo | $81 |
The table above shows 30-year term rates for male smokers aged 22. It details the company offering the coverage as well as the coverage and monthly rate
Mutual of Omaha is offering a $25,000 coverage plan for a rate of $14 a month, Foresters is offering a $50,000 coverage plan for a rate of $22 a month, and Americo is offering a $100,000 coverage plan for a rate of $37 a month, and a $250,000 coverage plan for a rate of $81 a month.
20-Year Term Premiums (Women; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Women | No | 20 Years | $25,000 | Mutual of Omaha | $9 |
| 22 | Women | No | 20 Years | $50,000 | Foresters | $11 |
| 22 | Women | No | 20 Years | $100,000 | Prosperity Life | $16 |
| 22 | Women | No | 20 Years | $250,000 | Prosperity Life | $29 |
This table shows the 20-year term life insurance premiums for women age 22 from a variety of companies, based on the coverage amount desired. For a $25,000 coverage amount, Mutual of Omaha has a monthly rate of $9
For a $50,000 coverage amount, Foresters has a monthly rate of $11. For a $100,000 coverage amount, Prosperity Life has a monthly rate of $16, and for a $250,000 coverage amount Prosperity Life has a monthly rate of $29.
30-Year Term Policies (Women; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Women | No | 30 Years | $25,000 | Mutual of Omaha | $9 |
| 22 | Women | No | 30 Years | $50,000 | Foresters | $13 |
| 22 | Women | No | 30 Years | $100,000 | Prosperity Life | $18 |
| 22 | Women | No | 30 Years | $250,000 | Prosperity Life | $35 |
This table outlines the monthly premiums for term life insurance policies with a 30-year term for women aged 22. The coverage amounts range from $25,000 to $250,000 and the monthly rates range from $9 to $35
Both Mutual of Omaha and Foresters offer coverage for a $25,000 and $50,000 policy respectively, while Prosperity Life offers coverage for $100,000 and $250,000 policies.
20-Year Term Monthly Premiums (Women Smokers; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Women | Yes | 20 Years | $25,000 | Mutual of Omaha | $12 |
| 22 | Women | Yes | 20 Years | $50,000 | Foresters | $14 |
| 22 | Women | Yes | 20 Years | $100,000 | Foresters | $22 |
| 22 | Women | Yes | 20 Years | $250,000 | Foresters | $48 |
The table above shows monthly premiums for a 20-year term life insurance policy for a female smoker aged 22. Three companies are listed: Mutual of Omaha, Foresters, and Foresters
Mutual of Omaha offers a $25,000 term life insurance policy for $12 per month, Foresters offers $50,000 for $14 per month, $100,000 for $22 per month and $250,000 for $48 per month.
Burial Insurance
30-Year Term Insurance Quotes (Female Smokers; Age 22)
| Age | Gender | Smoker | Term | Coverage | Company | Monthly Rate |
|---|---|---|---|---|---|---|
| 22 | Women | Yes | 30 Years | $25,000 | Mutual of Omaha | $13 |
| 22 | Women | Yes | 30 Years | $50,000 | Foresters | $17 |
| 22 | Women | Yes | 30 Years | $100,000 | Foresters | $29 |
| 22 | Women | Yes | 30 Years | $250,000 | Foresters | $64 |
The table above displays term life insurance quotes for 30 year-term policies for a female smoker at age 22. The insurance companies and amounts of coverage offered are as follows: Mutual of Omaha, $25,000; Foresters, $50,000; Foresters, $100,000; and Foresters, $250,000
The corresponding monthly rates for each of these policies are $13, $17, $29, and $64, respectively.
