Least Expensive Life Insurance for 44 Year Olds

By the time you have reached your mid-forties, your financial situation may begin to be having an impact on individuals other than yourself.

Whether you have a spouse, children, or any other financial dependents, it is important to begin thinking about how they would be able to get by in your absence.

Though the average lifespan in the United States is significantly longer than 44 years, preparing yourself for the future unknown is the best way for you to play things safe.

Life insurance is an incredibly valuable financial asset that can provide you and your loved ones with financial security in a number of different ways.

How Can Life Insurance Help Me?

Generally speaking, the primary function of a life insurance policy is to provide your chosen beneficiaries with a large sum of money upon your death. This policy will be paid for with small monthly premiums that are paid throughout the course of your life.

However, though the benefits of a life insurance policy in your 40’s remain quite clear, understanding the complexities of the industry is typically much more nuanced.

The process of determining the cost of a life insurance policy—typically referred to as underwriting—can be quite extensive and involve a wide range of variables.

Additionally, in an industry that provides financial services for millions of families across the United States, there will also be a wide range of policy types for you to choose from.

Whether you are 44 years old or any other age, it is important to do your research about the life insurance industry before making any final decisions.

Learning how to use life insurance to diversify your financial portfolio and create an authentic sense of financial security is something that will undeniably be worth the effort.

This article will briefly examine how a life insurance policy can benefit a 44 year old and how to find the type of life insurance coverage that is ultimately the best for you.

Why Do 44 Year Olds Need Life Insurance?

Though many of the benefits of a life insurance policy will not come to fruition until further down the line, the short-term costs (monthly premiums) of obtaining a policy are often significantly less than the long-term benefits.

The most obvious reason a 44 year old should purchase life insurance is that you have financial dependents who would be unable to adequately provide for themselves in your absence.

Depending on the size and type of life insurance coverage you are applying for, a life insurance policy may be able to function as a financial asset that you can actually have access to while you are still alive.

Your mid-forties are often considered the prime time for you to begin building a more diversified financial portfolio. Though you probably should not invest all of your money in a life insurance policy, investing a significant portion of your surplus monthly income can often be quite helpful.

What are Some of the Most Popular Types of Life Insurance Policies?

The term “life insurance” is something that describes an incredibly wide range of financial assets. The type of life insurance policy that will make the most sense for you and your loved ones will depend on your monthly budget, your health, and your long-term financial objectives.

Because there is such a wide range of life insurance policies available for you to choose from, it is important to consider all possible options before making any final commitments.

Term Life Insurance

The most popular type of life insurance policy is a term life insurance policy. These policies are generally the most affordable and will provide you with coverage that will usually last for 10, 20, or 30 years. Though these policies do not offer a tangible cash value, they are often an excellent choice for families that are on a budget.

Permanent Life Insurance

Permanent life insurance policies are more extensive than their term counterparts and are often an excellent option for individuals who are hoping to create a more diversified financial portfolio.

Though permanent life insurance policies will frequently cost more on a monthly basis, you will have the benefit of building equity in the form of the policy’s cash value.

Purchasing a permanent life insurance policy is often compared to choosing to own a home, rather than rent one.

Burial (Final Expense) Insurance

If you are looking to simply cover the costs of a funeral and possibly a burial—rather than fully replace your income—then you may want to consider purchasing burial life insurance.

These policies are often incredibly affordable, though the amount of coverage they provide is typically quite limited. However, depending on your current financial situation, purchasing a burial life insurance policy may be in your best interest.

Clearly, there is a lot for you to consider when comparing different life insurance policies. Many life insurance providers will offer several variations of all three types of policies mentioned above.

Working with an independent agent or website that allows you to consider multiple different options at once will make it substantially easier for you to be confident in your final decision.

What Affects the Price of Life Insurance?

As stated, there are many different variables that affect which life insurance policy will make the most sense for you. The life insurance policy which makes the most sense for one family will not always be the one that makes the most sense for another.

This is why the importance of doing your research and taking a comprehensive look at the industry cannot be overstated.

Your age will have a significant impact on the cost of a life insurance policy. When all else is equal, someone who is 44 can expect to pay much more for a policy than someone who is 34.

They can also expect to pay much less for the same amount of coverage as someone who is 54. This is why—for the sake of you and your loved ones—applying for life insurance while you are younger is generally better than applying when you are older.

Other variables that will be considered during the underwriting process include your health, your lifestyle, your status as a smoker, your weight, and many others.

If you believe you have a condition that will disqualify from receiving normal coverage, you may want to look for companies that target people like you in particular.

Additionally, comparing different websites, asking your friends for references, and contacting other financial providers can also help you find a policy that meets your needs.

Life Insurance Rates for 44 Year Olds

Many life insurance providers will begin the underwriting process by categorizing each potential client as someone who is either in a “preferred” or a “standard” health class.

During the underwriting process it is very important for you to be honest about any medical conditions that you may have—though you may be able to get away with lying about some things at the time (such as your status as a smoker), if the insurance provider later finds out you were dishonest, your beneficiaries may be denied a portion of the policy.

Life Insurance Rates for 44 Year Old Males

Term life insurance for a 44 year old male “Preferred” health class, monthly rates:

Policy Length $50,000 $100,000 $250,000 $500,000 $1,000,000
10 Year Term $10/mo. $12/mo. $20/mo. $34/mo. $60/mo.
15 Year Term $12/mo. $14/mo. $24/mo. $43/mo. $79/mo.
20 Year Term $13/mo. $18/mo. $32/mo. $58/mo. $106/mo.

44 year old male “Standard” health class, monthly rates:

Policy Length $50,000 $100,000 $250,000 $500,000 $1,000,000
10 Year Term $13/mo. $15/mo. $29/mo. $51/mo. $94/mo.
15 Year Term $15/mo. $20/mo. $38/mo. $70/mo. $131/mo.
20 Year Term $18/mo. $24/mo. $49/mo. $96/mo. $176/mo.

In addition to the wide range of variables mentioned above, many life insurance providers will also consider your gender during the underwriting process.

Generally speaking, women will be eligible to pay lower monthly premiums than men. However, the differences regarding this particular variable will usually be less than the differences seen with age.

Life Insurance Rates for 44 Year Old Females

Same policies, but for a 44 year old female “Preferred” health class :

Policy Length $50,000 $100,000 $250,000 $500,000 $1,000,000
10 Year Term $9/mo. $10/mo. $18/mo. $30/mo. $49/mo.
15 Year Term $10/mo. $12/mo. $21/mo. $37/mo. $66/mo.
20 Year Term $12/mo. $14/mo. $26/mo. $45/mo. $83/mo.

44 year old female “Standard” health class:

Policy Length $50,000 $100,000 $250,000 $500,000 $1,000,000
10 Year Term $12/mo. $12/mo. $22/mo. $38/mo. $70/mo.
15 Year Term $14/mo. $16/mo. $30/mo. $54/mo. $102/mo.
20 Year Term $15/mo. $19/mo. $38/mo. $71/mo. $131/mo.

Best Life Insurance Companies for 43 Year Olds

As members of an industry that dates back to at least the 19th century, there are naturally many different life insurance companies that are available for you to choose from.

There are numerous things that you should consider when trying to compare different life insurance providers. For example, while some life insurance companies will ignore most medical conditions, others will even go out of their way to give discounts to those who are healthy.

Things such as your budget, other financial circumstances, and the current family situation should also be actively accounted for.

Company A.M. Best Rating Customer Satisfaction
Banner Life A- 4.3 / 5
AIG A+ 4.2 / 5
Prudential A+ 4.3 / 5
Lincoln Financial A+ 4.0 / 5
Phoenix Life B 4.0 / 5
John Hancock A++ 4.1 / 5
Assurity A- 4.0 / 5

These are just a few of the best options that are currently available for you to choose from. In order to compare the best life insurance companies for 44 year olds, it may be a good idea to begin by checking out each of their websites.

Working with an objective life insurance provider such as Rootfin can also help you understand your current range of options.

Life Insurance for 44 Year Olds – Wrapping it Up

With the right life insurance policy, you will be able to provide your family with long-term financial security for a reasonable monthly price.

If you are currently 44 years old, now may be the time to seriously start thinking about your financial future.

Though you should certainly do your research before making any final commitments, taking the time to do so will undeniably be worth it.

Give one of our life insurance agents a call today to learn more about your life insurance policy options, or get started using our online quoting engine in order to compare the best life insurance policies for 44 year olds instantly.

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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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