Best Life Insurance Options for 40 Year Olds

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Life Insurance Quote for 40 Year Old

When you’re shopping for life insurance coverage, the insurance company is going to review dozens of factors when they are deciding how much to charge you for insurance protection. One of the biggest determining factors is your age. The older that you are, the more that you’re going to pay for life insurance coverage.

Life insurance for 40 year olds is typically not all that much more expensive than it would be if you were still in your 30s.

Obviously the rates go up as you get older, although most people in their 40s are surprised to find out just how cheap term life insurance can really be.

One thing we always encourage everyone who asks us to do, is to run an instant life insurance quote through the free tool we have on our site to see just how cheap they can get life insurance for themselves.

Life insurance is one of the most important things that you will ever buy for your family. It’s one of the few ways that you can ensure that your family will have the money that they need, regardless of what happens to you. The older that you get, the more expensive that your life insurance is going to be, but that doesn’t mean that you have to have a plan that breaks your bank every month. This article is going to look at the different ways that you can save money on your life insurance policy.

Cheap Term Life Insurance Quotes for 40 Year Olds

To get you started, we have prepared a table of some sample quotes that you can look over. Please keep in mind that these are just samples and while fairly accurate, they may not fully reflect the rate you may receive today. This is because rates are fluctuating daily so it is always best to run your information through the free quote tool to get an accurate, up to date rate.

The rates listed below are for NON-SMOKERS. If you are a smoker, the rates will generally be double the rates seen below.

Term life insurance for a 40 year old male “Preferred” health class (minor or no health issues), monthly rates:

                              $50,000  $100,000   $250,000  $500,000  $1,000,000
10 year term               $9             $9             $15            $24            $41
15 year term               $11           $11           $17            $30            $53
20 year term               $11           $13           $22            $39            $71

Term life insurance for a 40 year old male “Standard” health class (controlled health issues), monthly rates:

                               $50,000   $100,000  $250,000  $500,000  $1,000,000
10 year term                $11          $12           $21           $36             $66
15 year term                $13          $14           $26           $47             $88
20 year term                $14          $18           $35           $63             $118

Term life insurance for a 40 year old female “Preferred” health class (minor or no health issues), monthly rates:

                              $50,000  $100,000   $250,000  $500,000  $1,000,000
10 year term               $8            $9             $13           $21             $34
15 year term               $8            $10           $16           $25             $44
20 year term               $10          $11           $19           $34             $60

Term life insurance for a 40 year old female “Standard” health class (controlled health issues), monthly rates:

                              $50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term              $11           $11          $19            $31             $51
15 year term              $12           $13          $24           $42             $77
20 year term              $12           $15          $30           $52             $96

How to Save Money on Your Life Insurance

There are several ways that you can lower your insurance rates and keep more money in your pockets. Making a few simple changes in your day-to-day routine can save you thousands of dollars every year.

The first thing that you should do is cut out any tobacco that you use. If you smoke cigarettes, then you’re at a much higher risk of being diagnosed with severe health complications, like a heart attack or various kinds of cancer. Quitting smoking will not only improve your overall health, but it will also drastically cut down on your life insurance premiums. In fact, if you’re a smoker, you’re going to pay at least twice as much for your insurance policy versus what you would pay if you didn’t smoke.

Another way to secure better rates from the company is to start hitting the gym. Before you’re accepted for insurance coverage, the company is going to require that you take a medical exam. The results of this exam are going to play a major role in how much you pay in premiums. If you want to get lower premiums, you’ll need to get better results, it’s as simple as that.

The two best ways that you can do this are by making healthier food choices and by getting regular exercise. If you’re overweight, you’re going to pay at least 50% more for your life insurance compared to what you would pay if you were in a healthy weight range. If you want to save money, it’s time to lace up those running shoes and hit the gym.

The best way to get the cheapest term life insurance possible is to seek out an independent life insurance agency who has access to all of the top rated life insurance companies. Your agent can compare them all side-by-side for you to help you figure out which one is best. If you are in good health, then you can use our free online quote tool that will give you updated and accurate rates. These are the same exact rates that we will use when quoting you as well. All you need to do is pick the cheapest option.

If you have any pre-existing conditions or a complicated medical history however, we will need to qualify your health before researching your options. Since every life insurance company has a different way of assessing risk, we will need to contact each one of them individually. If you were to attempt to do this on your own, it could easily take several days. Instead we shop your information around to get you the best rates so you don’t have to.

Since we do this every day, we are truly experts at finding the lowest rates for our clients. 

Choosing the Best Life Insurance Policy at Age 40

The first thing to do is ask yourself what the coverage will be used for. Do you need to replace your income for your spouse? Or do you cover your kids college expenses? What about mortgage protection? Or also what about any outstanding debts or loans you might have? All of these questions and their answers should help you figure out what type and amount of coverage you need.

When it comes to term length, you’ll need to figure out how long you need as well. If you’re just trying to protect your income, then look into a term that will get you up until you retire. If you’re trying to cover the mortgage, then how much longer is left on your mortgage? If you plan to cover your children’s college expenses, then how long will it be until they are out of college? Again, use your answers to these questions to figure out what length of term you will need.

For most people though, it is not about breaking their budget but about covering themselves for their loved ones. We understand that. We always suggest that having some coverage is better than no coverage at all, so try to find something within your budget that will help your family out.

For those of you that need a policy that won’t expire, consider getting guaranteed universal life insurance. This policy is very popular for people in their 40s who are looking for a cheap life insurance that will last forever. Sometimes policies like this are also referred to as term for life, as it is a permanent life insurance policy that will have level premiums for the rest of your life. You can also compare these policies on our website.

Many people in their 40s end up getting a combination of guaranteed universal life insurance as well as term coverage. They tend to buy the majority of their coverage in term life insurance and also add a smaller amount of permanent coverage so that they will have something when the term life insurance expires.

Bottom Line

Remember to always work with an independent life insurance agency who is capable of exploring all of your options. We know that was a lot of information to take in all at once so if you have any questions please do not hesitate to contact us. Please also remember to utilize our online life insurance quote calculator to see how much life insurance will cost for you.

You never know what life’s going to throw at you tomorrow, which means that you shouldn’t wait another day to get the insurance protection that your family deserves. Call us today and we would be happy to answer any questions that you have and connect you with the perfect life insurance plan.

About Jeff Root

is the owner of He's an independent life insurance agent who has helped 1,000's of consumers purchase life insurance online and over the phone.

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