What is the typical age range for purchasing life insurance?

The age range typically associated with purchasing life insurance is from the 20s to 50s. This period is significant as individuals in this demographic often experience major life changes, such as starting a family, buying a home, or establishing a career.

During their 20s, many young adults begin to recognize the importance of financial security for their loved ones. They might opt for life insurance to cover debts, such as student loans, or to provide for dependent family members. As they progress into their 30s and 40s, people commonly seek to increase their coverage due to growing responsibilities, such as raising children or supporting aging parents. This age range tends to represent the peak of financial responsibilities and family obligations, making life insurance more relevant.

While individuals can and do purchase life insurance at younger ages or into their 60s and beyond, the 20s to 50s age range is when the majority of policies are acquired, as people are more likely to consider life insurance during this life stage of heightened financial and familial responsibilities.