Life Insurance for Adult Children

Life insurance for adult children may help parents who are still providing their children with financial support. Adult children life insurance rates will depend largely on your child's risk factors, including their age, gender, health, location, and more. You will need your child's consent to take out a life insurance policy for them, but you would have control over many policy terms. Learn more below.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Jul 16, 2021

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The Rundown

  • Life insurance for adult children can be beneficial if you are still supporting your children or if they cannot take on the financial burden of life insurance premiums
  • Life insurance rates for adult children will depend on the risk factors incurred by your children, such as their age, gender, health, location, and more
  • The most important factor in buying life insurance for adult children is getting consent from your child, but you will have control over many policy terms

If you’re still providing financial support to your adult children, you may want to consider buying life insurance for adult children.

Even if parents don’t like to plan for a child’s death, it is better to be prepared just in case than to not have life insurance when it is needed.

Below, we’ll discuss the basics of why life insurance for adult children is helpful, how much it may cost, and how to go about buying it.

To get life insurance quotes for adult children, enter your ZIP code into our free quote comparison tool above.

Should I get life insurance for my child?

Many of us wonder what age we should get life insurance. In some cases, buying life insurance for your adult child may benefit both you and your child.

According to the Federal Trade Commission, even though your child has turned 18, you may still help support them financially, which means you may also be responsible for paying funeral or burial costs if they were to pass away.

Your child may also be interested in protecting themselves and their family but may not be able to afford it. Therefore, you may choose to take out a life insurance policy for them and lessen the premiums’ financial burden.

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How much is life insurance for adult children?

Adult children life insurance rates will depend largely on the risk factors incurred by your child, such as their age, gender, health, location, and more.

Take a look at some sample rates from adult children life insurance companies to get an idea of what you could pay:

Sample Life Insurance Rates from Top Life Insurance Companies (Non-Smoker)
Age, Gender, and Marital Status (Non-Smoker)New York Life Average Annual Life Insurance RatesLincoln National Average Annual Life Insurance RatesPrudential Financial Average Annual Life Insurance RatesMassMutual Average Annual Life Insurance RatesState Farm Average Annual Life Insurance Rates
Single Female 25-years-old$158.00$187.00$195.00$132.00$143.00
Single Male 25-years-old$152.00$231.00$237.00$147.00$164.00
Married Female 45-years-old$262.00$239.00$314.00$209.00$238.00
Married Male 45-years-old$245.00$283.00$378.00$230.00$239.00
Single Female 65-years-old$924.00$903.00$941.00$763.00$684.00
Single Male 65-years-old$1,416.00$1,577.00$1,412.00$1,049.00$955.00
Average$526.17$570$579.50$421.67$403.83
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When you’re shopping for life insurance, you should compare quotes from multiple companies to make sure you’re getting the best rate.

How can I buy life insurance for adult children?

Can you buy a life insurance policy for a family member? Yes, and it’s a wise choice.

It is generally easy to buy life insurance for adult children. They will have to sign the life insurance application and either answer health questions or take a medical exam.

On the other hand, you’ll have control over many insurance policy terms, such as the amount of coverage, paying the premiums, and deciding the beneficiaries.

Some adult children’s parents took out a life insurance policy on them and did not talk to their adult child first.

The most important part of the process is making sure you have consent from your child.

Speaking with an agent or broker can help you determine what kind of grown children life insurance policy to get.

If you need help finding affordable life insurance for adult children, enter your ZIP code into our free quote comparison tool below to compare grown children quotes today.

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