Inexpensive Life Insurance for 42 Year Olds

If you haven’t had a physical within the last 12 months and you are not currently taking any type of medications you probably won’t run the risk of being diagnosed with a serious ailment by the insurance provider. The younger you are when you get your policy for life insurance the better the prices will be.

The number one determinant for almost all life insurance policies is your age. The younger you are, the cheaper your policies will be. The first time you get an insurance policy you will typically undergo a medical examination after answering basic health question.

Again, statistically speaking you are going to be healthier the younger you are and therefore undergoing this examination early can benefit you long-term by providing you with better prices.

Do 42 Year Olds Need Life Insurance?

If you are 42 years old you might have expenses that you don’t want to leave burdens on your family such as children who are still dependent on your income, taxes that might have to be paid on your estate when you pass, and an outstanding mortgage or medical bills.

Many insurance companies will allow you to take out a Term Policy for a specific length of time. That Term Policy is typically level which means your monthly payments do not change for the duration of the term.

If you take out a 10 or 20 year policy you might pay the same low-rate because you are still 42 and, that same company might have a conversion benefit where you can convert your Term Policy into a permanent policy once it expires without having to undergo a second medical examination.

This is very beneficial because that means any changes to your health will not influence the premiums you pay. The only thing that will change is your age.

Types of Life Insurance Policies for 42 Year Old

You have three specific options when you are considering different policy types.

Burial Life Insurance for 42 Year Olds

Burial policy plans are those which typically range between $5,000 and $25,000 in coverage. These are specifically to cover your funeral expenses or burial expenses. They are the cheapest option in terms of their premiums because they also come with the least coverage availability.

However, these might be in your best interest if you simply don’t need a great deals coverage, cannot afford any of the other plans, or don’t want to undergo a medical examination because of some pre-existing condition.

Most insurance companies that provide burial plans do not require any type of medical examination and will guarantee acceptance. Therefore, smokers and those with serious marks on their driving history might consider a burial policy as well.

Term Life Insurance Plans for 42 Year Olds

Term life insurance is for those who need financial coverage usually to replace income for a specific length of time.

If you have children who are still dependent upon you, you have a mortgage, or you simply want to offset the cost of estate taxes, this is a great solution and it is the second cheapest option.

Permanent Life Insurance Plans for 42 Year Olds

Permanent policies are the most expensive however they do last for the remainder of your life. They will never expire, and you will never have to undergo another medical exam.

Your premiums could increase but with different permit policy if you also have the opportunity to add different features that might not be available through term insurance and you can utilize a cash value program where you earn cash value on your death benefit based on the performance of different stocks.

Term Life Insurance Rates for 42 Year Olds

Term Life Insurance Rates for 42 Year Old Males

The sample below is a comparison of a 42-year-old male who resides in California. He is 5’7” and weighs 160 pounds. There is no family history of serious medical conditions and the individual has had no issues with his license over the last 5 years. This male is a non-smoker, and otherwise healthy enough to fit into the “preferred category”.

The term length for this policy is 10 years and the coverage amount is $500,000.  Note that the premiums are paid monthly.

Company10 Year Term20 Year Term30 Year Term
Protective$21.50$35.69$65.79
Mutual of Omaha$21.22$36.53$64.97
Pacific Life$22.74$36.62$64.58
AIG$25.00$36.68$64.36
Minnesota Life$22.44$36.72$66.62
Banner Life$27.52$38.70$63.98
Lincoln Financial Group$27.01$42.74$71.14
SBLI$25.41$42.97$70.69
Prudential$37.19$44.19$63.44
Transamerica$25.80$46.01$65.28

Term Life Insurance Rates for 42 Year Old Females

Now let’s look at a sample comparison of a 42-year-old female who resides in California. She is 5’5” and weighs 140 pounds. There is no family history of serious medical conditions and the individual has had no issues with her license over the last 5 years. This female is a non-smoker, and otherwise healthy enough to fit into the “preferred category”.

The term length for this policy is 10 years and the coverage amount is $500,000. Note that the premiums are paid monthly.

Company10 Year Term20 Year Term30 Year Term
Protective$19.35$29.67$51.63
Mutual of Omaha$18.59$30.41$49.74
Pacific Life$19.92$30.32$49.74
AIG$22.40$31.49$50.52
Minnesota Life$19.36$31.68$51.41
Banner Life$22.17$29.97$50.31
Lincoln Financial Group$23.14$33.64$52.14
SBLI$20.83$35.41$54.21
Prudential$21.93$39.41$52.63
Transamerica$25.80$37.41$57.19

Whole Life Insurance rates for 42 Year Olds

At 42, the longest term policy you can get is 30 years. But, how do term life insurance rates differ from whole life?

Given coverage of $500,000 the comparative prices for monthly premiums for a 42-year-old male are as follows:

  • For 10 year term, the average monthly cost is $21 per month.
  • For 15 year term, the average cost is $26 per month.
  • For 20 year term policies, the average cost is $35 per month.
  • For 25 year policies, the average cost is $51 per month.
  • For 30 year terms, the average cost is $63 per month.
  • For a whole life policy, the average cost is $280 per month.

Given coverage of $500,000 the comparative prices for monthly premiums for a female are as follows:

  • For 10 year term, the average monthly cost is $18 per month.
  • For 15 year term, the average cost is $22 per month.
  • For 20 year term policies, the average cost is $29 per month.
  • For 25 year policies, the average cost is $40 per month.
  • For 30 year terms, the average cost is $49 per month.
  • For a whole life policy, the average cost is $232 per month.

How Coverage Amount Affects Life Insurance Rates

Term length is not the only influencer of cost. Your coverage amount matters too. Let’s compare some different coverage amounts as well, each for a 20 year term policy and a male, non-smoker.

Coverage AmountAverage Monthly Cost
$50,000$15.00
$75,000$21.00
$100,000$13.00
$125,000$14.00
$150,000$17.00
$175,000$19.00
$200,000$20.00
$250,000$22.00
$300,000$25.00
$350,000$28.00
$400,000$32.00
$500,000$35.00
$600,000$43.00
$750,000$52.00
$1,000,000$66.00

Best Life Insurance Companies for 42 Year Olds

Below is a list of some of the top companies for those who are 42. You can see that they almost all offer similar types of coverage, but what riders they have, what health questions, and what costs are different.

Therefore, you want to talk to an agent about your situation to get a more granular look at the companies you should consider:

CompanyA.M. Best RatingLife Insurance Options
Lincoln Financial GroupA+
  • Term life
  • Universal life
  • Variable universal life
Banner LifeA+ Superior
  • Term Life Insurance
  • Universal Life Insurance
Prudential FinancialA+ Superior
  • Term life
  • Whole life
  • Survivorship life
  • Universal life
  • Indexed universal life
  • Variable universal life
TransamericaA+ Superior
  • Term life
  • Whole life
  • Universal life
  • Variable universal life
AIGA Excellent
  • Term life
  • Whole life
  • Universal life
  • Indexed universal life
  • Variable universal life
Pacific LifeA+ Superior
  • Term life
  • Universal life
  • Indexed universal life
  • Variable universal life
Protective LifeA+ Superior
  • Term life
  • Universal life
  • Variable universal life
  • Survivorship life

If you are going to pick a program with flexible payments, and monthly payments are not a requirement based on your situation, many of the companies reviewed above will give up to a 10% discount if you pay your insurance annually. A single annual payment, therefore, might be a smarter option for you.

Tips for Finding the Best Life Insurance Coverage for 42 Year Olds

Before you take out a life insurance policy you want to consider your current level of Health. Figure out where you stand health wise, get to know your cholesterol levels, your blood pressure, and your family history of Health diseases.

Make sure that you are as fit as you will be relatively speaking before you undergo the exam. If you have been a bit lazy the last few months and perhaps your blood sugar is up, and your blood pressure is up from a particularly stressful event in life, it might behoove you to wait a few months before you apply.

Also, consider your Current financial situation. Take into consideration what you might have, what the average funeral cost is for your state, and what you want to leave behind to your loved ones. This will help you better determine the amount of coverage you should pay for.

Remember that not all insurance carriers are the same. You can work with an agency to help you pick and choose from many different carriers.

Every insurance company has its own underwriting guidelines, so you will want to review the policies and what their benefits are with your family and with professional before you pick one. You should know what all your options are and find a professional recommendation based on your situation.

Get the Best Life Insurance Rates for 42 Year Olds

When it comes to purchasing life insurance for 42 year olds, there are many options for policies and companies.

As a result, it can often seem daunting to try and find which company is best for you and your family. On top of that, life insurance is a huge investment and it is protecting something very important – your family.

This is why we recommend speaking with an independent life insurance agent who can help understand your situation in order to help you find the right life insurance coverage for your family based on your specific situation.

Give our agents a call today to begin looking at your life insurance options, or get started online with our quoting engine for quick and easy life insurance quotes for 42 year olds.

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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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