How Much Does Life Insurance Cost for a 40 Year Old

You’re 40 years old and you realize it’s about time you bought a life insurance policy. In this article I will address the question of “How Much Does Life Insurance Cost for a 40 Year Old”. I’ll discuss term and permanent life insurance policies, give some examples of pricing for a policy, and list the best life insurance companies for a 40 year old. I’ll also discuss the differences between medical vs no medical exam life insurance for a 40 year old.

If you just want to compare rates for term life, simply use the instant online quote calculator right below this paragraph. Otherwise keep reading for more info on ‘how much does life insurance cost for a 40 year old’.

Instant Life Insurance Quote
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 How Much Does Life Insurance Cost for a 40 Year Old: Term Vs. Permanent Coverage

There is a significant difference between pricing for a permanent policy and a term policy. The larger the death benefit, the bigger the difference. For example a 40 Year old Male buying a $500,000 policy would pay $615 annually for a 30 year term policy. A $500,000 policy with permanent cove

how much does life insurance cost for a 40 year old

rage, such as a No Lapse Universal Life, would cost $2,298 annually. As you can see, the permanent coverage is four times the amount of the term policy. There are reasons to consider a permanent policy, such as for estate planning purposes, however for most people term is significantly more doable in terms of pricing, and provides protection during the years you need it most.

 

Term Life Insurance for a 40 Year old Male and Female

So what does term life insurance cost for 40 year old male. In this example I’ll list pricing for a 20 and 30 year term policy at $500,000 at Preferred Plus Non Tobacco, Standard Non Tobacco and Standard Tobacco Rates for a man and a woman. Of course if you want to compare rates simply use our q

uote form below the first paragraph.

$500,000 20 Year Term 40 Year old Male:

  •  $30.45 monthly at Preferred Plus Non Tobacco:
  • $64.25 monthly at Standard Non Tobacco
  • $177 monthly for Smoker Rates

 $500,000 20 Year Term 40 Year old Female

  •  $26.54 at monthly Preferred Plus Non Tobacco
  • $54.34 at monhtly Standard Non Tobacco
  • $135.65 monthly at Smoker Rates

 $500,000 30 Year Term 40 Year old Male

  •  $53.51 monthly at Preferred Plus Non Tobacco
  • $112.98 monthly at Standard Non Tobacco
  • $274.05 monthly at Smoker Rates

 $500,000 30 Year Term 40 year old Female

  •  $41.76 monthly at Preferred Plus Non Tobacco
  • $84.83 monthly at Standard Non Tobacco Rates
  • $206.50 monthly at Smoker Rates

 Best Term Life Insurance Companies for a 40 Year Old:

Finding the best term life insurance company is really a function of finding out your current health and health history, height/weight, family history, coverage amount and length of term. However here are the companies that seem to have the best rates for term life for a 40 year old: 10 Year Term Life Insurance Rates

 

No Medical Life Insurance Rates for a 40 Year Old

So that you can compare rates between medical vs. no medical life insurance, here are rates for $250,000 of coverage at 20 and 30 year term for a man and a woman. Typically policies above $250,000 require medical exams.

 $250,000 No Medical Exam Policy for 40 Year Old Male

$77 month 20 Year Term – non smoker rate

$176 month 20 Year Term – smoker rate

 

$140.50 month 30 year term – non smoker rate

$259.91 month 30 year term – smoker rate

 $250,000 No Medical Exam Policy for 40 Year Old Female

$63.94 month 20 Year Term – non smoker rate

$142.03 month 20 Year Term – Smoker Rate

 

$103.10 month 30 Year Term – non smoker rate

$190.31 month 30 Year Term – Smoker Rate

 

You can typically get better rates by getting a medical exam policy, however if you want to get a policy quickly, going non medical is the way to go.

 At Chooseterm.com we work with over 30 of the best life insurance companies. You can compare rates below, or simply call us at 800-574-0245 Ext 101 for a customized life insurance quote.

Instant Life Insurance Quote
State: 
Birthdate: 
Gender:  Male     Female 
Smoker/Tobacco:  Yes    No 
Health Class: 
 Type of Insurance:   
Face Amount: 
Your Name: 
Phone Number: 
E-mail Address: 
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Liran Hirschkorn

Liran Hirschkorn is the founder of Chooseterm.com. His mission is to help individuals across the country in finding the best rates on life insurance as well as helping individuals with high risk life insurance.

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