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.
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.
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 10/25/2024 - these are just example costs - your rates will be different - the insurance underwriter sets the final rates)
Get Your Own Life Insurance Quote!
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 10/25/2024 - these are just example rates - your premiums will be different)
Get Your Own Life Insurance Quote!
This always depends on your individual situation. Many factors come into play when figuring out a suficient amount of life insurance coverage.
Factors like:
Get Life Insurance Rates Over 40!
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 breast cancer or heart issues, have diabetes, etc. Your rates will be higher.
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.