How Much Is Life Insurance For A 21 Year Old? 
How much is life insurance for a 21 year old ? The amount of premium depends on several different factors . These factors are basically the same for any person at any age . It depends on the type of life insurance you are buying . Term insurance is generally cheaper for the term of the contract . However , once that term has expired the premiums usually increase . Whole-life insurance offers premiums that will not increase for the life of the insured as long as all premiums are kept current , as well as any other conditions of the contract . This allows for the young person to budget for the premiums over the course of the life of the insured . Whole-life insurance takes a little longer to mature . Therefore , just about the time the term insurance is about to run the course of the policy the whole-life insurance should be maturing . A good combination of these products covers the short-term needs , as well as , the long-term needs . There are also universal life policies to be considered . These products offer flexible premium amounts . Fixed annuities are considered a form of life insurance and these are beneficial for retirement . All of these products are great for the young person to consider and each has its advantages and disadvantages . Therefore , a well-balanced portfolio is essential so you can make use of all the advantages offered and limit the disadvantages of each product . In addition to the type of insurance you are purchasing , your gender , health , tobacco use or non-use , recent hospitalizations and sometimes your hobbies and career etc. will all be considered when calculating the premiums . 