Last Updated: March 2020
Obtaining life insurance in your 40s is still very affordable, and popular time to start shopping for a policy.
Below, we have articles on age 40 up to 49 years old, so you can find the most specific advice to your age. Each article will help you find rates, the best companies, and tips for saving money on a policy for your specific age.
Life Insurance at Ages 40 to 49
Below are all 10 articles for life insurance in your 40’s. Visit the page that corresponds to your age for the best information on shopping for life insurance.
- Life Insurance for 40 Year Olds
- Life Insurance for 41 Year Olds
- Life Insurance for 42 Year Olds
- Life Insurance for 43 Year Olds
- Life Insurance for 44 Year Olds
- Life Insurance for 45 Year Olds
- Life Insurance for 46 Year Olds
- Life Insurance for 47 Year Olds
- Life Insurance for 48 Year Olds
- Life Insurance for 49 Year Olds
If you’re looking for general advice on shopping for life insurance in this age group, we have that below.
Why Get Life Insurance in Your 40’s?
While you may not have as much money as someone shopping for life insurance in their 50’s, you’re most likely building your net worth and do have assets to protect at this age.
Many people in their 40’s purchasing life insurance are building up their cash reserves, reducing their debt, increasing retirement savings, and sometimes saving for college tuition for their children. All of these are huge burdens to leave your family in your untimely passing, so life insurance is there as that safety net in case the worst happens.
Many people in their 40’s are purchasing life insurance terms until their projected retirement. This means purchasing a 20, 25, or 30-year term life insurance policy. Term life insurance is typically very inexpensive if you’re in average or better health in your 40’s.
Life Insurance Over 40 Years Old Can Be Affordable
Many people believe that once they reach the age of 40, life insurance premiums are so high that they’ll never be able to obtain an affordable policy. In fact, quite the opposite is true.
Although not as cheap as life insurance in your 30’s, coverage for people in their 40s is surprisingly inexpensive. One of our biggest pieces of advice that we give to everyone looking for life insurance, is to get insured as soon as possible. The sooner you become a policyholder, the cheaper your policy will be. Even a few years time can make a huge difference.
How Much is Life Insurance for People in Their 40’s?
We often get asked by people in their 40s how much it will cost to insure them. The answer depends on more than just your age. Health, hobbies, and other factors play a role too.
Each insurance company will want you to undergo a medical exam and an underwriting process before you can be provided with a quote. You will be asked many questions about your health which you will need to answer and address honestly. While your age does affect your life insurance premium, the bigger factors have to do with your health.
The underwriters will be very interested in any health complications you’ve had in the past and which ones you are still experiencing now. There is no use trying to cover up any of these, as most of them will present themselves naturally during your physical exam. That said, there are ways of answering their questions truthfully, that won’t cause your rates to go up.
The 3 Best Life Insurance Companies for Ages 40 to 49
It’s best to compare multiple carriers when shopping for life insurance. That said, three companies often stand out for people in their 40’s.
- Protective Life | Best for Term Life Insurance in Your 40’s – Protective has low term life insurance rates and great options if your term coverage expires and you still need some coverage.
- Northwestern Mutual | Best for Whole Life Insurance in Your 40’s – Northwestern Mutual has strong dividend performance for this age range.
- AIG | Best for High-Risk Life Insurance in Your 40’s – AIG life insurance has lower-priced substandard niches, making their policies very affordable for people with medical conditions.
Again, we still recommend comparing the companies above to others.
Tips to Save on Life Insurance in Your 40’s
There are several things you can do to make sure you get the best rates on your life insurance policy.
- Buy term life insurance. Term life insurance is cheaper, so you’ll be able to get more coverage for less money.
- Get as healthy as possible. Your health class will determine your rates, so being as healthy as possible when you take your medical exam will save you money.
- Compare multiple companies. Once you know how much life insurance you need, and the type of policy you’re looking for, compare as many top-rated companies as possible.
You can start by using our instant quote tool. Enter your age, and health to compare accurate quotes from the best companies offering life insurance to people in their 40’s.