Average Costs of Life Insurance For Men And Women in Their Forties (40's)

Being in your forties is a great age bracket to get life insurance, no matter if you are 40 or 49 - you still can get affordable rates, and it's fairly easy to get coverage.

If your health is good and medical history has no issues, life insurance companies will have no problem insuring you.

Choose a life insurance policy amount for a quote:

Don't Procrastinate, This is The Right Time to Get Coverage

Because you are in your 40's, it would be a mistake to wait much longer to shop for life insurance. If you wait until you reach your fifties, rates will be higher and by that time, you may have developed some health issues that will increase your rates, or, even, deny your coverage.

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Example costs for a 20-year term policy for a male, non-smoker:

AGE $100,000 $200,000 $300,000 $400,000 $500,000 $1,000,000
40 Year Old Man $14.63 $25.85 $28.20 $35.88 $43.91 $80.49
41 Year Old Male $15.31 $28.10 $30.73 $39.48 $47.52 $89.50
42 Year Old Male $16.44 $30.46 $33.88 $43.98 $52.27 $97.26
43Year Old Man $17.85 $33.18 $37.39 $48.63 $57.51 $108.68
44 Year Old Male $19.36 $35.73 $40.46 $53.13 $64.97 $121.14
45 Year Old Man $20.36 $38.70 $44.40 $58.68 $70.81 $131.15
46 Year Old Male $21.34 $40.45 $49.10 $63.59 $76.69 $142.75
47 Year Old Man $22.59 $42.45 $53.25 $69.14 $83.46 $156.35
48 Year Old Man $23.69 $45.35 $57.43 $74.54 $91.53 $168.85
49 Year Old Man $25.94 $48.45 $62.49 $81.69 $99.81 $184.15

(Rates as off 07/19/2022 - these are just example costs - your rates will be different - the insurance underwriter sets the final rates)

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Example costs for a 20-year term policy for a female, non-smoker:

AGE $100,000 $200,000 $300,000 $400,000 $500,000 $1,000,000
40 Year Old Female $13.31 $21.84 $24.32 $30.85 $37.26 $66.51
41 Year Old Female $14.15 $23.37 $25.75 $32.56 $39.29 $72.64
42 Year Old Woman $14.55 $25.20 $27.14 $34.35 $41.66 $77.59
43 Year Old Female $15.34 $26.26 $28.72 $36.43 $44.89 $83.33
44 Year Old Woman $16.25 $27.39 $29.93 $38.35 $46.37 $87.40
45 Year Old Female $16.60 $28.34 $32.32 $41.35 $50.45 $95.76
46 Year Old Woman $18.21 $32.23 $35.84 $45.57 $55.66 $105.88
47 Year Old Female $19.98 $34.33 $39.98 $51.30 $62.86 $118.82
48 Year Old Woman $20.40 $36.98 $43.53 $56.88 $66.30 $128.76
49 Year Old Female $21.54 $41.35 $46.78 $60.98 $73.23 $141.10

(Rates as off 07/19/2022 - these are just example rates - your premiums will be different)

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How Much Life Insurance Will I Need?

This always depends on your individual situation. Many factors come into play when figuring out a suficient amount of life insurance coverage.

Factors like:

  • Your salary
  • Are you married
  • Does your spouse have an income
  • Do you have children
  • Are the children still living with you
  • Do you have children in college
  • Do you have a mortgage - how much you still owe

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After Age, Health Matters The Most

It's not surprising that life insurance companies look at your health status to determine your rates and if you can get coverage.

If you smoke, are overweight (high BMI), have a medical condition like cancer or heart issues, have diabetes, etc. Your rates will be higher.

Term Life Insurance vs Whole Life Insurance

This is always a choice people have to make when getting life insurance, should I get a term or whole/universal policy.

It's always best to speak to a financial adviser before getting a whole policy. Often, it's a better choice to get a term life insurance policy and get a separate investment instrument, like an IRA, 401K, mutual fund, etc.

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