Best Life Insurance Options for 41 Year Olds

Life Insurance Quotes for 41 Year Old

Well, you’re in your 40s. That means a lot of things. If you have kids and a spouse who relies on your income, you should have a quality life insurance place.

When you start shopping for life insurance, you’ll be faced with a lot of questions. How much should you get? Where should you buy the plan from? What type of policy should you buy?

To help you out, this article is going to answer all of those questions and give you the info you need to find a plan to protect your family.

We encourage you to run an instant life insurance quote on this page to see how inexpensive life insurance can really be for you.

Cheap Term Life Insurance Quotes for 41 Year Olds

Let’s get to the important part, how much you’re going to pay every month. These are only rough estimates on what you could pay.

Term life insurance rates for a 41 year old male “Preferred” health class:

$50,000  $100,000   $250,000  $500,000  $1,000,000
10 year term                $9          $10            $16           $26            $44
15 year term                $11        $11             $18           $32            $58
20 year term                $11        $14             $24           $43            $78

Term life insurance for a 41 year old male “Standard” health class, monthly rates:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term               $12         $12            $22          $40            $71
15 year term               $13         $16            $28          $52            $97
20 year term               $15         $19            $38          $69            $129

Term life insurance for a 41 year old female “Preferred” health class (no or minor health issues), monthly rates:

$50,000  $100,000  $250,000  $500,000  $1,000,000
10 year term                $9          $9             $14            $22            $38
15 year term                $9          $10           $17            $28            $50
20 year term                $10        $12           $21            $36            $63

Term life insurance for a 41 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           $20            $33            $60
15 year term              $12          $14           $26            $45            $84
20 year term              $13          $16           $32            $58            $104

How To Save Money on Your Life Insurance

You might have been surprised by the rates above. Keep in mind, they are only ballpark figures. There are so many aspects which they company has to review to calculate your premiums.

Each carrier uses different algorithms for determining premiums. The first step to finding affordable coverage is to pick a company with affordable premiums. Find the company with the best underwriting for you.

Fun fact, there are more than 6,000 insurance companies out there. As a person looking for coverage, you don’t want to waste time contact agents individually.

We can save you the time and trouble. We are independent brokers. We aren’t restricted to a single company. You’ve probably worked with one of these kinds of agents in the past.

You probably have a friend or cousin who works exclusively with one company. Sure, maybe this company might be the best, but chances are, they aren’t.

Instead of working with a single company, our agents can do the calling for you. We have the same abilities as those other agents, but with a lot more companies.

Put us to work for you!

Choosing The Best Life Insurance Policy at Age 41

Aside from choosing a carrier, there are a few key decisions you’ve got to make.

First, decide which type of plan you want. There are two general types: term and whole. Inside of those two groups are several other kinds, but they all fall under the broad category of term or whole.

If you want the cheapest and most cost efficient coverage, buy a term plan. Term doesn’t give you permanent coverage, but you save thousands of dollars with a temporary plan.
You probably won’t need life insurance forever, why would you pay for it?

If you decide to buy a term plan, you will need to calculate how long of a plan you need. If you have a mortgage loan, you need a plan which will match the length of your loan.

 

Working with an Independent Insurance Agent

 

Why work with an independent agent? There are several advantages. In fact, it’s one of the best things you can do for your life insurance search.

First, they save you time. We already mentioned how you would have to call a hundred companies if you wanted to find affordable coverage. Instead of having to make those called, you can make one. It’s all of the quotes with a fraction of the time on the phone.

Another benefit of teaming up with an independent agent is the unbiased advice. Let’s say you contact a normal agent with a carrier, you’re going to get skewed advice because they want to sell you a plan from their company. That’s it. They don’t have your best interests at heart.

With an independent agent, they are more concerned with finding you the most affordable policy, not selling you expensive coverage you don’t need.

How Much Life Insurance do you Need to Buy?

One of the most important factors to consider when you’re shopping for life insurance protection is to calculate how much coverage that your family will need. Not having enough life insurance will leave your family responsible for those debts and expenses.

 

Determining the size of your plan is simple. Add your debts with your annual salary. Make sure the plan can pay off your mortgage and will replace your monthly paycheck.

You should also consider all of your final expenses and burial costs. The average funeral costs $10,000 and that can be a difficult bill for your loved ones to pay for while they are grieving. Your life insurance plan will give them the money that they need to respect your final wishes without draining your bank account.

Bottom Line

 

Regardless of how old you are, or how much life insurance you buy, it’s vital you have SOME protection. Having something is better than having nothing at all.

Buying insurance doesn’t have to be as cumbersome as you might expect. Thanks to independent agents and the internet, it’s never been simpler to buy quality coverage.

Still confused? Wondering which company is best for your age? Shoot us a call. At RootFin, we are dedicated to bringing affordable life insurance directly to you.

 

About Jeff Root

is the owner of rootfin.com. 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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