Protective Insurance, Legal & General, Pacific Life and Lincoln Financial are the best life insurance companies for 40-year-old applicants. We analyzed the top providers across different categories to help you find the right coverage for your needs.
Best Life Insurance for 40-Year Olds in 2025
The top life insurance options for 40-year-olds include plans from Protective Insurance, Legal & General, Pacific Life and Lincoln Financial, each offering unique benefits for this age group.
Find out if you're overpaying for life insurance below.
Select age group
Updated: October 29, 2025
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Key Takeaways
Protective Insurance is the best whole and universal life insurance provider for 40-year-olds, with a MoneyGeek score of 5 out of 5. Legal & General ranks best for term coverage, with a MoneyGeek score of 4.7.
Pacific Life earns the highest MoneyGeek score of 4.6 for no-medical-exam life insurance for 40-year-olds.
Lincoln Financial is the best affordable life insurance company for 40-year-olds, offering an average rate of $31 per month for women and $38 per month for men for a 20-year term policy with $500,000 coverage amount.
Top Rated Life Insurance Companies for 40-Year-Olds
Whole and Universal | Protective Insurance | 5 | Whole: $580 (Women) $637 (Men) Universal $244 (Women) $281 (Men) | Whole: $6,954 (Women) $7,641 (Men) Universal: $2,922 (Women) $3,366 (Men) |
Term | Legal & General | 4.7 | $38 (Women) $47 (Men) | $457 (Women) $566 (Men) |
No-Exam | Pacific Life | 4.6 | $39 (Women) $47 (Men) | $464 (Women) $566 (Men) |
Best Cheap | Lincoln Financial | 4.5 | $31 (Women) $38 (Men) | $376 (Women) $452 (Men) |
Rates above are based on average quotes for $500,000 coverage for 40-year-olds. For term life insurance, we used a 20-year term length. Actual rates vary depending on your coverage needs, age, gender, health and lifestyle.
Best Whole and Universal Life: Protective Insurance
Protective
MoneyGeek Rating
5/ 5
5/5Affordability
5/5Customer Experience
5/5Coverage Options
Average Monthly Cost
Whole: $580 (Women); $637 (Men) Universal $244 (Women); $281 (Men)Based on a $500,000 policy for nonsmokers with average weight and health ratings.Average Annual Cost
Whole: $6,954 (Women); $7,641 (Men) Universal: $2,922 (Women); $3,366 (Men)Based on a $500,000 policy for nonsmokers with average weight and health ratings.
Best Term: Legal & General
Legal & General
MoneyGeek Rating
4.7/ 5
4.7/5Affordability
4.7/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost
$38 (Women); $47 (Men)Based on a 20-year term policy with $500,000 coverage amount for nonsmokers with average weight and health ratings.Average Annual Cost
$457 (Women); $566 (Men)Based on a 20-year term policy with $500,000 coverage amount for nonsmokers with average weight and health ratings.
Best No-Exam: Pacific Life
Pacific Life
MoneyGeek Rating
4.6/ 5
4.6/5Affordability
4.5/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost
$39 (Women); $47 (Men)Based on a 20-year term policy with $500,000 coverage amount for nonsmokers with average weight and health ratings.Average Annual Cost
$464 (Women); $566 (Men)Based on a 20-year term policy with $500,000 coverage amount for nonsmokers with average weight and health ratings.
Best Cheap: Lincoln Financial
Lincoln Financial
MoneyGeek Rating
4.5/ 5
5/5Affordability
3.6/5Customer Experience
4.5/5Coverage Options
Average Monthly Cost
$31 (Women); $38 (Men)Based on a 20-year term policy with $500,000 coverage amount for nonsmokers with average weight and health ratings.Average Annual Cost
$376 (Women); $452 (Men)Based on a 20-year term policy with $500,000 coverage amount for nonsmokers with average weight and health ratings.
Best Life Insurance for a 40-Year-Old: Buying Guide
Buying life insurance in your 40s can save you money compared with purchasing a policy later in life. Below is a buying guide to help you navigate the process.
How Much Is Life Insurance for a 40-Year-Old?
Life insurance costs vary depending on the coverage level and insurer you choose. Gender is one of the most important factors influencing life insurance quotes. Women usually receive lower rates than men due to differences in life expectancy and risk factors.
Smoking status makes a huge difference in your rates in determining life insurance quotes due to substantial health risks associated with tobacco use. Insurers consider smokers higher-risk clients, so they pay higher premiums.
The table below shows average life insurance premiums for 40-year-old men and women. You can also filter based on smoking status to see how rates differ between nonsmokers and smokers.
Data filtered by:
10 years
Female
No
| $100,000 | $11 | $132 |
| $250,000 | $18 | $217 |
| $500,000 | $31 | $369 |
| $750,000 | $46 | $555 |
| $1,000,000 | $59 | $707 |
| $1,500,000 | $87 | $1,041 |
| $2,000,000 | $110 | $1,322 |
| $2,500,000 | $141 | $1,698 |
| $3,000,000 | $161 | $1,931 |
The rates above are average quotes for 40-year-olds with average weight and health ratings. Actual premiums will vary based on your health, lifestyle and other personal factors. These averages are for comparison purposes only.
Compare Life Insurance Quotes for 40-Year-Olds
Life insurance companies weigh cost factors differently when calculating premiums. To get accurate estimates, compare personalized quotes from multiple insurers. The life insurance rate calculator below provides quotes from multiple providers without requiring personal information.
Life Insurance Calculator
We’ll give you a suggested amount of cover to buy in just 3 easy steps. — it's free, no personal information required, no spam.
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Rates updated:
Nov 06, 2025
How to Save Money on Life Insurance in Your 40s
If you want to get affordable life insurance as a 40-year-old, the following tips can help you save on costs.
- 1Maintain a Healthy Lifestyle
The lower your risk of health problems, the less life insurance companies charge you for coverage. Maintaining a healthy lifestyle and avoiding smoking can decrease your life insurance premiums.
- 2Buy Life Insurance as Young as Possible
The younger you are, the less expensive your life insurance coverage. You can't turn back time and buy life insurance earlier, but you can purchase coverage today and secure lower rates at your current age.
- 3Compare Quotes
Getting sample premiums from several providers and comparing each one is the best way to find the most affordable rate for your unique insurance profile.
Best Life Insurance Policies for 40-Year-Olds
There are three main types of life insurance. Each policy type offers benefits and has different costs. When seeking life insurance at 40, consider your long-term goals and budget. Comparing average life insurance rates by age for each type can help you make an informed decision.
Term Life
Term life insurance is often the best choice for people in their 40s. This type of policy covers you for a specified period ranging from 10 to 30 years, depending on the insurer. A term life policy remains in effect for the specified duration but expires after the stipulated time, meaning your beneficiaries receive a death benefit only if you pass away within the policy term. If it expires before you pass away, no death benefits are paid. Term life insurance is usually less expensive than permanent life insurance.
Whole Life
Whole life insurance is permanent and remains in effect for your entire life. The death benefit is paid to your beneficiaries when you pass away. Whole life insurance accumulates cash value over time and may earn dividends depending on the insurer. Whole life policies ensure your beneficiaries receive a guaranteed death benefit when you pass away. Whole life insurance usually costs more than term life insurance but can be a good option if you're in your 40s and want to build cash value over time.
Universal Life
Universal life insurance differs from whole life in that you can increase or decrease your premiums. Universal life insurance is available as indexed universal life insurance, guaranteed universal life and variable universal life. The difference between these universal policies is the interest rate on the policy's cash value. Indexed universal life policies have a set minimum and maximum interest rate, guaranteed universal life policies have a fixed interest rate, and variable universal life policies have a variable interest rate.
GUARANTEED LIFE INSURANCE AT AGE 40
Guaranteed acceptance life insurance doesn’t require a medical exam, making it an accessible coverage option for those with health concerns. Compared to traditional policies, the coverage amount for guaranteed life insurance is lower, often limited to smaller benefit amounts.
For those in their 40s, this type of policy can be particularly advantageous if you need quick, reliable coverage but have health issues that make it difficult to qualify for other plans. Premiums are generally higher than other options.
Should I Get Life Insurance in My 40s?
Buying life insurance in your 40s can be a smart money decision. At this age, you'll likely enjoy lower premiums than in later years, and policies may offer more favorable terms due to the lower risk profile associated with a younger age.
Life insurance costs increase as your life expectancy decreases. The table below shows how costs change as you age.
Data filtered by:
10 years
$500,000
Female
| 20 | $18 | $220 |
| 30 | $20 | $235 |
| 40 | $31 | $369 |
| 50 | $65 | $778 |
| 60 | $174 | $2,087 |
| 70 | $479 | $5,746 |
The rates above are average quotes for nonsmokers with average weight and health ratings. Actual premiums will vary based on your health, lifestyle and other personal factors. These averages are for comparison purposes only.
ADD-ON COVERAGE
Life insurance riders are optional add-ons that let you customize a policy to fit specific needs and get extra protection. For example, a critical illness rider provides a lump sum if you're diagnosed with a serious illness, while a waiver of premium rider ensures your life insurance premiums are covered if you become disabled.
Riders can be an affordable way to broaden your policy's benefits, offering more comprehensive protection beyond standard coverage. Adding riders increases overall life insurance policy costs. The additional cost depends on the type and number of riders added.
Best Life Insurance in Your 40s: Bottom Line
Buying life insurance at 40 can be important when you’re protecting your family's financial future. With various options available, choosing the right provider is important. We highlighted the top-rated companies to help you find the right fit.
Protective Insurance ranks first among insurance companies offering whole and universal life insurance for 40-year-olds, with a MoneyGeek score of 5. Legal & General ranks highest for term coverage. For those prioritizing cost, Lincoln Financial is the best affordable life insurance provider. Pacific Life is the top choice for no-medical-exam policies. Compare policy offers and rates from multiple insurers to ensure you get the right coverage and the best price.
Life Insurance in Your 40s: FAQ
MoneyGeek answered frequently asked questions about buying life insurance in your 40s so you can make an educated decision on your life insurance policy.
How old do you have to be to get life insurance?
The minimum age requirement for life insurance varies by provider and policy type. Most providers require applicants to be at least 18 years old for term life insurance. Permanent life insurance, such as whole life and universal life insurance, also generally requires a minimum age of 18 for standard policies. Some companies may offer child or juvenile life insurance policies, which parents can purchase for children as young as a few days old.
What is the best age to get life insurance?
There is no specific age, as the best time to get life insurance varies depending on individual needs and circumstances. Buying a policy early can be advantageous due to the differences in life insurance costs by age. Securing coverage sooner helps lock in lower premiums, making it more affordable in the long run.
Do term life insurance premiums increase with age?
Yes, term life insurance premiums often rise as you age. Policyholders will also see an increase when renewing after the initial term. Many people choose a longer term to lock in rates. Comparing prices using a term life insurance rates chart can show how premiums change with age.
Do whole life insurance premiums increase with age?
Whole life insurance premiums stay level throughout the policyholder's life. Unlike term life insurance, which may adjust based on age, whole life premiums remain constant after purchase. Premiums for older individuals buying a new whole life insurance policy are higher than for younger buyers. Checking a whole life insurance rates by age chart can give you an idea of how much a policy costs depending on when you start coverage.
Why would term life insurance costs be different for two people who are the same age?
Term life insurance costs can vary even among people of the same age due to health, lifestyle and coverage amount differences. These factors impact the rate, which may differ from one person to another.
Our Ratings Methodology
To find the best-rated life insurance companies for 40-year-olds, we analyzed 248,399 life insurance quotes from major national carriers alongside customer satisfaction data and product diversity.
MoneyGeek developed a scoring system to evaluate life insurance companies across three categories, ranking each based on its overall performance. We focused on insurers with nationwide availability and the option to get quotes online.
MoneyGeek’s Scoring System
In our scoring model, each company can earn up to five points in three separate categories. These scores are combined and calculated based on assigned weightings to produce an overall MoneyGeek score. We used the following weightings:
- Affordability: 55%
- Customer Experience: 30%
- Coverage Options: 15%
Each company’s score incorporates:
- Cost data obtained through online quotes
- Financial strength ratings from AM Best and number of years in business
- Customer satisfaction data from the National Association of Insurance Commissioners (NAIC) customer complaint index, J.D. Power customer satisfaction ratings and other online customer reviews
- Availability of tools to aid in the buying process, such as online product materials and multiple payment options
- Diversity of life insurance products offered
Sample Customer Profile
MoneyGeek used a standard profile to obtain life insurance quotes:
- 40-year-old
- Nonsmoker
- 5 feet 9 inches tall and 160 pounds for men
- 5 feet 4 inches tall and 120 pounds for women
- Average health rating
Premiums are based on the standard customer profile unless stated otherwise.
We adjusted this profile by factors such as age, gender, height, weight, tobacco use and health classification to gather a range of quotes and identify the best life insurance companies for different customer types. Quotes were collected for different term lengths (term and permanent coverage) and coverage amounts.
We then analyzed the data to identify patterns and used those insights to project results beyond the original dataset.
Coverage costs and company information for life insurance providers were updated in 2025.
Top Life Insurance Companies for 40-Year-Olds: Related Pages
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like 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.