Average Life Insurance Costs For Women and Men Over 40

Great news if you are in your forties - term life insurance rates have never been this affordable. With people's life expectancy going up every year, it is no surprise that life insurance companies are more than happy to insure males and females over 40 years of age.

Get a quote on these typical life insurance amounts for forty year olds:

Considering that the majority of men and women will live into their seventies and eighties, it is a low risk proposition for a life insurance company to insure a man or woman in their 40's.

How To Get The Best Rates

Comparing rates from several insurers will ensure you'll get the best possible rates.

Do not settle with the first quote you get. By comparing rates from different companies you'll be able to get the cheapest rates available for your particular situation.

Maintaining a healthy lifestyle can help lower your life insurance premiums. Losing excess weight, if applicable, can reduce risks that lead to costly health conditions down the road.

Sticking to doctor-recommended treatment plans for any medical conditions you have, like asthma or diabetes, demonstrates responsibility.

Quitting smoking for good, including e-cigarettes, will also improve your rates the longer you abstain.

And you can still enjoy the occasional high-risk hobby like skydiving, just try to avoid making it a frequent habit that raises red flags.

The healthier your behaviors, the more insurers see you as low-risk, which leads to better rates.

What are the factors that influence the cost of life insurance for 40 year olds?

Life insurance companies want to estimate one thing above all else: How long you're likely to live.

To calculate your life insurance quote, they gather information to help answer that complicated question.

What you pay depends on several key factors like the type and amount of coverage, your age, and your health. Since every insurer prices policies differently, comparing quotes from multiple companies can help you find the best value.

Here are 10 major factors that influence life insurance rates:

  • Age - One of the most important factors. As you get older, the chance the insurer has to pay out increases, raising quotes.
  • Gender - Females typically pay less than males of the same age and health due to a longer life expectancy.
  • Height and weight - Being overweight or underweight can lead to health issues and higher rates. If your height and weight are within normal limits, you'll receive better rates.
  • Health history - Your past and current health significantly affects rates. Pre-existing conditions are factored in to estimate life expectancy.
  • Family health history - Serious hereditary illnesses in your family, like heart disease, can mean higher quotes.
  • Nicotine and marijuana use - Smokers, vapers, and marijuana users have increased risk of cancer and lung disease, raising rates.
  • Substance abuse history - Abusing drugs or alcohol can lower life expectancy, increasing rates.
  • Driving record - DUIs, speeding tickets, and accidents make you riskier, raising rates.
  • Credit history - Your credit can influence risk scores some insurers use.
  • Criminal history - Felonies can impact your ability to get a policy.

The type of policy also greatly affects your costs. Permanent life insurance lasts until death but costs more than renewable term life insurance.

Comparing quotes and policy types can help find the best rate for your budget and needs. The above factors all play a role in determining your personalized life insurance costs.

As mentioned above, if you have any medical issues like diabetes, cancer, depression, autoimmune disease, etc., your rates won't be preferred, and you will pay more.

Get your own life insurance rates today!

What Are The Different Types Of Life Insurance Available For 40 Year Olds?

The two main types of life insurance policies are Term and Whole.

Term Life Insurance

Like the name implies, term life insurance is a type of policy that covers the insured for a set number of years - the term. After the term expires, the coverage is no longer valid and there's no payout to the beneficiaries.

Whole Life Insurance

Whole life insurance provides a secure death benefit for your lifetime. The premiums remain the same, and the cash value accumulates over time, free from taxation.

No expiration date as long as your payments are on time. It's a reliable, risk-free way to ensure your loved ones are taken care of, no matter how long you live.

Plus, you get the security of knowing your premiums won't go up. No other type of insurance offers this kind of long-term protection with guaranteed growth and stability.

Get a life insurance quote

Here are some examples of term life insurance rates if you are 40 years of age or older:

  • A 20 year level term policy for a 45 year old man, non smoker, in good health, in the amount of half million dollars ($500,000) will cost only $52 per month.
  • A 30 year level term policy for a 40 year old woman, non smoker, with no health problems, in the amount of $300,000 will cost around $30 per month - from a A+ rated company.
  • A 10 year level term policy for a 45 year old woman, smoker, in good health, in the amount of $200,000 will cost only $50 per month.

As you can see prices are really affordable - get your own rates today!

Term Life Insurance Cost Examples by Age:

30 year term policy for a non-smoking man in his forties:

AGE $100,000 $200,000 $300,000 $400,000 $500,000 $1,000,000
40 Year Old Man $21.58 $39.26 $47.34 $60.64 $73.28 $134.87
41 Year Old Male $23.38 $42.50 $51.37 $65.80 $80.80 $148.87
42 Year Old Man $25.40 $46.29 $56.55 $72.74 $89.93 $164.48
43 Year Old Male $27.67 $49.44 $61.37 $78.56 $96.86 $179.57
44 Year Old Man $29.95 $53.24 $66.55 $86.46 $106.00 $195.77
45 Year Old Male $32.22 $57.46 $72.68 $94.28 $115.58 $213.78
46 Year Old Man $33.86 $63.51 $79.87 $103.79 $127.55 $236.80
47 Year Old Male $36.53 $69.37 $88.00 $114.48 $136.49 $255.44
48 Year Old Man $40.79 $74.97 $97.25 $126.72 $147.50 $277.60
49 Year Old Male $43.24 $81.37 $106.41 $139.34 $162.57 $305.80
Rates as off 05/21/2024 - your policy rates will likely be different. These are just example premiums.

20 year term policy for a non-smoking woman in her forties:

AGE $100,000 $200,000 $300,000 $400,000 $500,000 $1,000,000
40 Year Old Female $13.37 $21.76 $24.46 $30.87 $37.35 $66.33
41 Year Old Woman $14.27 $23.29 $25.77 $32.88 $39.41 $73.37
42 Year Old Female $14.67 $25.26 $27.76 $34.37 $41.58 $77.57
43 Year Old Woman $15.56 $26.38 $28.84 $36.57 $45.01 $83.85
44 Year Old Female $16.37 $27.81 $29.87 $38.35 $46.69 $87.56
45 Year Old Woman $16.67 $28.46 $32.46 $41.77 $50.37 $95.92
46 Year Old Female $18.33 $32.26 $35.96 $45.69 $55.77 $105.90
47 Year Old Woman $19.82 $34.47 $39.89 $51.42 $62.97 $118.64
48 Year Old Female $20.47 $36.60 $43.56 $56.70 $66.44 $128.78
49 Year Old Woman $21.46 $41.57 $46.77 $60.80 $73.45 $141.24
Rates as off 05/21/2024 - your insurance rates will likely be different. These are just example prices.

Get your own rates today!

I'm 45 years old - what's the right amount of life insurance?

Determining the right amount of life insurance can be tricky.

Consider these key factors when deciding on coverage:

  • Pay off mortgage and other debts. If you pass away, you don't want to leave loved ones burdened with payments. Make sure your policy pays enough to cover these ongoing financial obligations.
  • Replace income. Calculate how many years of income your beneficiaries would need to maintain their lifestyle if you were no longer around. Get enough coverage to replace your salary for that timeframe.
  • Fund children's education. If you have kids, estimate the total cost of tuition through college or private school. Include this amount in your life insurance needs.

The goal is to purchase enough life insurance to settle your debts, provide ongoing income replacement, and cover major future costs like your children's education.

With some careful estimates and number crunching, you can determine the right amount for your unique circumstances.