What Is a 40-Year Term Life Insurance Policy? (2026 Guide)

A 40-year policy offers the longest available term length. It can be an excellent choice if you're seeking long-term financial protection for your family.

Find out if you're overpaying for life insurance below.

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What Is a 40-Year Term Life Insurance Policy? (2026 Guide)

Written by Mark Fitzpatrick

Updated: January 9, 2026

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Key Takeaways

Term life insurance provides coverage for a specific period, with 40-year policies representing the absolute longest available protection.

You'll pay 60% to 80% more than 30-year terms for the additional decade of guaranteed coverage, but this premium increase buys you rate stability and eliminates requalification risk during your peak earning years when health issues commonly emerge.

This coverage is remarkably scarce in today's market. Ethos, Protective Insurance, and Legal & General offer these extended terms.

Life Insurance with 40-Year Term

Term life insurance is a type of policy providing coverage for a specific period or "term." Beneficiaries receive the death benefit if the policyholder passes away within this term. While most terms range from 10 to 30 years, 40-year term life insurance represents the longest available.

A 40-year term policy guarantees a death benefit if the insured passes away within 40 years, making it reliable for long-term financial planning. The extended coverage means higher premiums than shorter terms. However, locking in a rate for 40 years provides cost stability in a fluctuating market.

Should You Buy 40-Year Term Life Insurance?

Consider 40-year coverage immediately if you have young children who'll need support for 25+ years, long-term mortgages requiring decades of income replacement, special needs family members requiring lifelong financial care, or concerns about qualifying for new coverage later due to family health history. The extended term eliminates the anxiety of reapplying when you're older and potentially less insurable.

Skip 40-year terms when you are over 45 years old and facing prohibitively expensive premiums, expect financial obligations to decrease significantly within 20-30 years, can't comfortably afford the higher monthly payments without straining your budget, or have substantial assets that reduce your family's dependence on life insurance proceeds for financial security.

Advantages and Disadvantages of 40-Year Term Life Insurance

Forty-year term insurance isn't right for everyone, but it can be perfect for specific situations.

Pros of 40-Year Term Life Insurance

Extended Coverage: A 40-year life insurance policy provides long-term cover for family and business obligations.
Fixed Premiums: Premiums stay consistent throughout the term.
Estate Planning: A 40-year policy helps long-term estate planning and asset protection.
Debt Security: 40-year term insurance covers long-term debts like mortgages.

Cons of 40-Year Term Life Insurance

Higher Cost: 40-year term life insurance rates are higher than shorter-term policies.
Inflexibility: 40-year term policies are less adaptable to changing life circumstances.
Overinsurance Risk: You might pay for unnecessary coverage if your needs change.
Limited Provider Options: Only a few insurers offer 40-year term coverage.

40-Year Term Life Insurance Rates

Only a few companies offer 40-year term life insurance policies. Age eligibility may also be limited. Below are average quotes from Legal & General, Protective Insurance, and Ethos.

Data filtered by:


Legal & General	$153	$1,843
Protective Insurance	$179	$2,160
Ethos	$366	$4,397

How to Buy the Best 40-Year Term Life Insurance

Shopping for 40-year coverage requires a different strategy. The process typically takes six to eight weeks from application to policy delivery.

1
Assess Your Needs
Multiply your annual salary by 10 to 15 based on your debt and financial obligations. This income replacement method shows how much coverage protects your family.
2
Compare Providers
Only three companies sell 40-year terms: Protective, Ethos and Legal & General. Compare all three.
3
Understand Policy Features
Look at when you can switch to permanent coverage without a medical exam. Most insurers let you convert until age 65 to 70.
4
Get Quotes
Request quotes from all three insurers to see who offers the best rate.
5
Consult with an Agent (Optional)
An insurance agent can explain your options and answer questions about policy terms.
6
Apply and Undergo Medical Exam
Book your exam for early morning. You're well-rested then and your vital signs are steadiest.

Follow these steps to buy the best term life insurance for 40 years of coverage.

40-Year Life Insurance: What Happens After the Term?

Your 40-year term policy expires when you reach the end of the coverage period, typically placing you in your 60s or 70s when life insurance needs often change . Here are your options for continued coverage or letting the policy lapse. Most policyholders find their insurance needs have decreased significantly by the time their 40-year term ends due to accumulated wealth and reduced financial obligations.

Purchasing New Coverage After Expiration

Buying new life insurance after your 40-year term expires requires complete medical underwriting at your current age.

Annual Renewable Term Options

Most 40-year policies include renewable term provisions allowing continued coverage without medical exams, but premiums increase each year based on your attained age and current mortality tables.

Converting to Permanent Life Insurance

Conversion options let you switch your term coverage to whole or universal life insurance without medical underwriting. Depending on your policy terms, this coverage is typically available until age 65 to 70.

40-YEAR TERM VS SHORTER POLICY LENGTHS

Consider your future financial commitments when choosing term length, like your children's educational expenses. A 40-year term policy isn't for everyone. While 10- and 20-year terms are more popular, they won't provide adequate coverage if you have long-term financial obligations.

Alternatives to 40-Year Term Life Insurance

If 40-year coverage doesn't fit your needs or budget, these options might work better:

30-Year Term with Conversion Privileges

Thirty-year term policies cost approximately 30% less than 40-year coverage while providing conversion options that let you switch to permanent insurance without medical underwriting before age 65 to 70. This approach works well if you're uncertain about your long-term coverage needs or want flexibility to add investment features later. The conversion privilege provides a safety net if your health deteriorates and you need to extend coverage beyond the initial 30-year period.

Term Life Insurance with Renewable and Convertible Options

Renew your coverage or convert to a permanent policy at the end of your term. Perfect when you're unsure about future coverage needs or want flexibility to add investment features later.

Decreasing Term Policy

Your coverage amount decreases over time, matching diminishing debts like mortgages. Works well when your financial obligations shrink as you age.

Whole Life Insurance

Whole life insurance provides lifelong coverage plus cash value accumulation. It works for estate planning or building retirement assets alongside death benefit protection.

Universal Life Insurance

Universal life insurance policies let you adjust premiums and death benefits as your financial situation changes, providing more flexibility than traditional whole life insurance. You can increase premiums during high-income years and reduce them during financial difficulties while maintaining coverage. The cash value component earns interest based on current rates, though returns may not match well-diversified investment portfolios available through retirement accounts.

Group Life Insurance

Employer-provided coverage offers cost-effective short-term life insurance. Consider this for basic coverage without long-term commitment, often supplementing rather than replacing individual policies.

Laddered Term Life Insurance Strategy

Purchasing multiple smaller policies with staggered expiration dates allows you to reduce coverage as your financial obligations decrease over time. For example, $300,000 for 20 years plus $200,000 for 30 years provides $500,000 initially, dropping to $200,000 after 20 years when your mortgage balance and children's dependency typically decrease. This strategy often costs less than single large policies while better matching your changing insurance needs throughout different life stages.

Return of Premium Term Policies

Some insurers offer term policies that refund all premiums paid if you survive the coverage period, providing free life insurance if you outlive the term. These policies cost 50% to 80% more than standard term insurance but appeal to consumers who dislike "losing" premium payments. The additional cost typically exceeds what you'd earn by investing the premium difference, making this option expensive compared to traditional term insurance.

40-Year Term Life Insurance: Bottom Line

A 40-year term life insurance policy is the longest available term option. This extended coverage works for specific long-term financial planning needs but isn't suitable for everyone.

A 40-year policy works best for people with long-term financial commitments. Shorter terms work better if you have temporary financial goals or you're nearing retirement. Currently, only Protective Life Insurance, Legal & General, and Ethos offer 40-year policies.

40-Year Life Insurance Policy: FAQ

A 40-year term life insurance policy is relatively new and unavailable through most insurance providers. Below are common questions about these policies.

Which life insurance companies offer 40-year term policies?

Only a few companies offer 40-year term life insurance policies, including Etos, Protective Life Insurance, and Legal & General.

What is the longest available coverage length for term life insurance policies?

Presently, the longest available term length is 40 years. Not all insurers offer this type of policy.

What does term length mean in life insurance?

Term length affects life insurance costs. Longer policy terms mean higher premiums because insurers have greater risk over extended periods. A 40-year term policy costs more than shorter 10-, 20- or 30-year terms.

Compare costs across different term lengths before choosing. The price difference between term lengths can be substantial, so match your coverage period to your actual needs.

Why is 40-year term life insurance so rare?

The life insurance industry is conservative, so insurers rarely introduce new products. Forty-year term insurance is relatively new, partly because of this conservatism. Longer terms also create a greater period of risk for insurers.

Can you get a 40-year term life insurance without a medical exam?

Every 40-year term policy requires extensive medical underwriting. The medical exam includes height, weight, and vital signs measurement along with blood draws testing cholesterol levels, diabetes markers, liver function, and drug screening panels. Urine samples test for additional health indicators. You may also need to have EKGs for heart function assessment, stress tests, or cognitive assessments depending on your age and coverage amounts requested.

Our Ratings Methodology

Most term life policies max out at 30 years, leaving younger buyers without options to lock in protection through retirement. Only three insurers offer 40-year terms, so picking the right one matters. We tested all three to show you which combines low rates, financial strength and reliable service for four decades of coverage.

Our analysis: We pulled 248,399 life insurance quotes and compared them with customer satisfaction data, financial stability reports and coverage features. All prices and company details reflect 2025 data. We focused on insurers with national reach and online quoting.

Scoring system: Companies earn up to 5 points in three weighted categories:

Affordability (55%): Premium costs matter most when you're paying for 40 years
Customer Experience (30%): Strong service prevents headaches during claims
Coverage Options (15%): Conversion rights and riders add flexibility

Quote profile: Our baseline is a 40-year-old male nonsmoker, 5 feet 9 inches, 160 pounds, average health. All premiums use this profile unless noted. We ran quotes across ages, genders, health ratings and tobacco use to find the best insurer for each buyer type. We also tested different coverage amounts and term lengths.

Why this matters: A 40-year term bought at 30 covers you to age 70. Buy at 25 and you're protected to 65. This longest-available term locks your rate through peak earning years, mortgage payoff and kids' college costs without the expense of permanent insurance.

About Mark Fitzpatrick

Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.

Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!

He writes about economics and insurance, breaking down complex topics so people know what they're buying.

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