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.
A 40 year old man, non-smoker, in good health can expect to pay around $22 for a $100,000 life insurance policy for a terrm of 30 years. The same policy would cost around $32 for a 45 year old man. A 40 year old woman would pay around $13, and a 45 year old woman, $16.
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.
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.
A 45 year old man can expect to pay around $57 for a $200,000 life insurance policy for a term of 30 years. The same policy would cost around $43 for a 49 year old man. The costs for a 45 year old woman would be $28 per month, and for a 48 year old woman, $36.
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:
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!
The two main types of life insurance policies are Term and Whole.
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 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.
As you can see prices are really affordable - get your own rates today!
| 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 |
| 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 |
Determining the right amount of life insurance can be tricky.
Consider these key factors when deciding on coverage:
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.