Term Life Insurance Rates for 24-Year-Olds

Fact-Checked | View our Editorial Guidelines

Americans in their twenties are the future of our nation, and in addition to building their careers and starting families, some millennials have come to understand the importance of life insurance. Term life insurance is an invaluable tool to protect the financial future of loved ones in the case of an emergency

As such, 24-year-olds—many of whom are likely to already have a mortgage, a car loan, and other monetary obligations—need to understand the what kind of term life insurance is available and how much it costs. In this article, we'll explore how much term life insurance for 24-year-olds is in order to ensure that you are getting the best coverage for your money.

No-Exam
Burial Insurance
Age
Gender
Know Your Rate
Contact info NOT required.

20-Year Term Life Insurance Cost (Men; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24MenNo20 Years$25,000Mutual of Omaha$9
24MenNo20 Years$50,000Mutual of Omaha$12
24MenNo20 Years$100,000Prosperity Life$18
24MenNo20 Years$250,000Prosperity Life$35

The table shows 20-year term life insurance cost for men aged 24 who are non-smokers. Mutual of Omaha offers a rate of $9 monthly for a $25,000 coverage and $12 monthly for a $50,000 coverage

Prosperity Life offers a rate of $18 monthly for a $100,000 coverage and $35 monthly for a $250,000 coverage.

30-Year Term Life Rates (Male; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24MenNo30 Years$25,000Mutual of Omaha$10
24MenNo30 Years$50,000Mutual of Omaha$14
24MenNo30 Years$100,000Prosperity Life$22
24MenNo30 Years$250,000Prosperity Life$44

The table above displays the monthly rates for 30-year term life insurance policies for a 24-year-old male who does not smoke. It shows the coverage amounts of $25,000, $50,000, $100,000 and $250,000

The rates are offered by Mutual of Omaha and Prosperity Life. For a $25,000 coverage, Mutual of Omaha's rate is $10 per month, while Prosperity Life's rate is $22 per month. For a $50,000 coverage, Mutual of Omaha's rate is $14 per month, while Prosperity Life's rate is $44 per month

For a $100,000 coverage, Mutual of Omaha does not provide a policy and Prosperity Life's rate is $22 per month. For a $250,000 coverage, Prosperity Life's rate is $44 per month.

20-Year Life Insurance Pricing (Male Tobacco; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24MenYes20 Years$25,000Mutual of Omaha$13
24MenYes20 Years$50,000Foresters$18
24MenYes20 Years$100,000Americo$30
24MenYes20 Years$250,000Americo$63

The table above shows the 20-year life insurance pricing for a male age 24 who identifies as a tobacco user. Mutual of Omaha provides a $25,000 coverage with a monthly rate of $13, Foresters offers a $50,000 coverage with a monthly rate of $18, and Americo provides a $100,000 and a $250,000 coverage with respective monthly rates of $30 and $63.

No-Exam
Burial Insurance
Age
Gender
Know Your Rate
Contact info NOT required.

30-Year Term Rates (Male Smokers; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24MenYes30 Years$25,000Mutual of Omaha$14
24MenYes30 Years$50,000Foresters$22
24MenYes30 Years$100,000Americo$37
24MenYes30 Years$250,000Americo$81

The table above displays the monthly rates for 30-year terms for different coverages from three different life insurance companies for a 24-year-old male smoker. Mutual of Omaha offers $25,000 of coverage for $14 per month, Foresters offers $50,000 for $22 per month, Americo offers $100,000 for $37 per month, and Americo offers $250,000 of coverage for $81 per month.

20-Year Term Premiums (Women; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24WomenNo20 Years$25,000Mutual of Omaha$9
24WomenNo20 Years$50,000Prosperity Life$11
24WomenNo20 Years$100,000Prosperity Life$16
24WomenNo20 Years$250,000Prosperity Life$29

The table above shows the 20-Year Term Premiums for female customers aged 24 who are non-smokers. The coverage amounts available range from $25,000 to $250,000, with a monthly rate of $9-29 depending on the coverage amount and the company chosen

The two companies listed are Mutual of Omaha and Prosperity Life.

30-Year Term Policies (Women; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24WomenNo30 Years$25,000Mutual of Omaha$9
24WomenNo30 Years$50,000Prosperity Life$13
24WomenNo30 Years$100,000Prosperity Life$18
24WomenNo30 Years$250,000Prosperity Life$35

This table looks at the different insurance policies available for a 24-year-old woman who is a non-smoker looking to take out a 30-year term life insurance policy. The coverage amounts range from $25,000 to $250,000 and the rates payments range from $9 to $35 per month

Mutual of Omaha offers a $25,000 coverage, with a monthly rate of $9, while Prosperity Life offers policies for $50,000, $100,000 and $250,000 coverage, with rates of $13, $18, and $35 per month respectively.

20-Year Term Monthly Premiums (Women Smokers; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24WomenYes20 Years$25,000Mutual of Omaha$12
24WomenYes20 Years$50,000Foresters$15
24WomenYes20 Years$100,000Foresters$25
24WomenYes20 Years$250,000Foresters$54

The table above shows the monthly premiums for 20-year term life insurance coverage for female smokers aged 24. Mutual of Omaha offers a $25,000 policy for $12 per month, and Foresters offers policies for $50,000, $100,000 and $250,000 for $15, $25 and $54 per month respectively.

No-Exam
Burial Insurance
Age
Gender
Know Your Rate
Contact info NOT required.

30-Year Term Insurance Quotes (Female Smokers; Age 24)

AgeGenderSmokerTermCoverageCompanyMonthly Rate
24WomenYes30 Years$25,000Mutual of Omaha$13
24WomenYes30 Years$50,000Foresters$18
24WomenYes30 Years$100,000Foresters$32
24WomenYes30 Years$250,000American Amicable$71

This table shows a comparison of 30-year term life insurance quotes for female smokers of age 24. It includes quotes from Mutual of Omaha, Foresters, and American Amicable for coverage amounts of $25,000, $50,000, $100,000, and $250,000, respectively

The monthly rate for Mutual of Omaha is $13, for $50,000 coverage from Foresters it is $18, for $100,000 coverage from Foresters it is $32, and for $250,000 coverage from American Amicable it is $71.