Nationwide earned a MoneyGeek score of 97 out of 100, making it the best life insurance for 40-year-old applicants overall. We analyzed the top providers across different categories to help you find the right coverage for your needs.
Life Insurance
Best Life Insurance Companies for 40-Year-Olds in 2025
Updated: August 15, 2025
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Key Takeaways
Nationwide is the best overall insurance provider for 40-year-olds, with a MoneyGeek score of 97 out of 100. GEICO follows as runner-up and ranks best for customer satisfaction.
State Farm earns the highest MoneyGeek score of 99 for whole life insurance and no-medical-exam life insurance for 40-year-olds.
Allstate is the best affordable life insurance company for 40-year-olds, offering an average rate of $12 per month.
Top Rated Life Insurance Companies for 40-Year-Olds
Company | Best For | MoneyGeek Score | Monthly Cost |
|---|---|---|---|
Best Overall | 97 | $16 | |
Runner-Up & Best for Customer Satisfaction | 96 | $13 | |
Best Whole Life & No-Medical-Exam | 99 | N/A | |
Best Cheap | 97 | $12 |
Overall Best Life Insurance for 40-Year-Olds: Nationwide
Nationwide is MoneyGeek's top choice for 40-year-olds, with a MoneyGeek score of 97. The company ranks first due to its comprehensive coverage options and competitive rates.
A 10-year term policy with $250,000 coverage costs an average of $16 per month, making it an excellent choice for those wanting reliable coverage without breaking the budget.
Nationwide
MoneyGeek Score:
97/ of 100
Monthly Cost$16
Overview
Nationwide aligns coverage with the substantial financial responsibilities typical at age 40. The company's 97-year presence in the insurance market demonstrates its reliability. Its portfolio of term, whole and universal life policies serves individuals with various financial objectives. Nationwide balances value and service quality through its direct buying process and consistent customer support.
Nationwide Rates for Male and Female 40-Year-Olds
Nationwide offers competitive rates for both genders, starting at $16 per month for $250,000 coverage.
Runner-Up and Best Life Insurance for Customer Satisfaction: GEICO
GEICO, with a MoneyGeek score of 96, is the second-best overall life insurance company for 40-year-olds and leads in customer satisfaction. GEICO's customer support is unmatched for those seeking exceptional service.
The company offers $250,000 coverage with a 10-year term for an average of $13 per month, making it an attractive option for 40-year-olds prioritizing affordability and service quality.
GEICO Gender-Specific Rates
GEICO provides equal pricing for both genders at $13 per month for $250,000 term policies. This gender-neutral pricing makes GEICO an excellent choice for couples seeking consistent rates.
GEICO
MoneyGeek Score:
96/ of 100
Monthly Cost$13
Overview
GEICO excels in customer satisfaction, particularly for 40-year-olds who value responsive and attentive service. With 87 years of experience and options for term coverage up to $8 million, GEICO offers straightforward term life insurance. While product diversity is limited, focusing primarily on term life, the quality of service and financial stability make GEICO ideal for 40-year-olds who prioritize seamless customer experience and solid financial backing.
Best Whole and No-Medical-Exam Life Insurance for 40-Year-Olds: State Farm
State Farm excels in providing whole life and no-medical-exam life insurance policies, with a MoneyGeek score of 99 in both categories. For 40-year-olds seeking permanent coverage, State Farm offers strong options for building long-term financial security.
State Farm is particularly strong for individuals who want life insurance without medical exams or those seeking whole life insurance with cash value accumulation.
State Farm
MoneyGeek Score:
99/ of 100
Overview
State Farm excels in whole life and no-medical-exam options, offering a blend of financial strength and customer satisfaction. With more than a century of experience, State Farm provides diverse product options for 40-year-olds, including term, whole and universal life coverage. The company also offers specialized policies like guaranteed issue final expense insurance, making it ideal for 40-year-olds with health concerns or those seeking simplified underwriting processes.
State Farm Whole Life by Gender
State Farm offers term rates starting at $20 per month for $250,000 coverage for women and specialty whole life and no-medical-exam options. The company's diverse product portfolio serves both men and women through simplified underwriting processes.
Best Cheap Life Insurance for 40-Year-Olds: Allstate
Allstate is the best cheap life insurance company for 40-year-olds, with a MoneyGeek score of 97. For budget-conscious 40-year-olds, Allstate offers quality coverage without compromising on financial stability.
Its term life insurance with a 10-year term and $250,000 coverage costs an average of $12 per month, making it the most affordable option for 40-year-olds who prioritize value.
Allstate
MoneyGeek Score:
97/ of 100
Monthly Cost$12
Overview
Allstate is a budget-friendly option for 40-year-olds, combining strong financial stability with competitive rates. The company offers competitive term life insurance through its 92-year tenure and policy options ranging from $100,000 to $50 million. Allstate's straightforward buying process makes it a practical choice for 40-year-olds without compromising on service or product availability.
Allstate Affordable Options by Gender
Allstate charges $12 per month for men and offers even better value for women at $11 per month for $250,000 coverage, making it the most affordable option for both genders.
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 typically receive lower rates than men due to differences in life expectancy and risk factors. The table below shows average life insurance premiums from leading providers for 40-year-old men and women.
Data filtered by:Results filtered by:
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Gender:Male
| Transamerica | $12 | $17 | $26 |
| Allstate | $12 | $18 | $29 |
| GEICO | $13 | $19 | $26 |
| Protective | $13 | $20 | $31 |
| Nationwide | $16 | $22 | $33 |
| Prudential | $17 | $32 | $63 |
| AAA | $17 | $25 | $42 |
| Mutual of Omaha | $17 | $26 | $46 |
| Fidelity | $20 | $32 | $93 |
| Haven | $22 | $38 | $70 |
| State Farm | $22 | $31 | $48 |
| Bestow | $27 | $48 | $88 |
| Progressive | $31 | $52 | $93 |
Average Cost of Life Insurance for 40-Year-Olds Who Smoke
Smoking status is one of the most impactful factors in determining life insurance quotes due to the substantial health risks associated with tobacco use. Insurers consider smokers higher-risk clients, so they pay higher premiums. See how rates differ between nonsmokers and smokers in the table below.
Data filtered by:Results filtered by:
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Gender:Male
| Average Cost per Year | $350 | $815 |
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:
Aug 15, 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.
- 1
Maintain a Healthy Lifestyle
The lower your risk of health problems, the less life insurance companies will charge you for coverage. Maintaining a healthy lifestyle and refraining from smoking are excellent ways to decrease your life insurance premiums.
- 2
Buy Life Insurance as Young as Possible
The younger you are, the less expensive your life insurance coverage tends to be. Although you can't turn back time and decide to buy life insurance earlier, you can purchase coverage today and secure lower rates at your current age.
- 3
Compare 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 that can range 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. This means 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 typically 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 typically costs more than term life insurance, but it can be a good option if you are 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 typically 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. However, premiums are generally higher than other options.
Should I Get Life Insurance in My 40s?
Purchasing life insurance in your 40s can be a strategic financial move. At this age, you're likely to 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 10-year and 20-year term life insurance rates and how costs change as you age.
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Term Length:10-Year
| 30-Year-Old | $14 | $20 | $35 |
| 40-Year-Old | $18 | $29 | $53 |
| 50-Year-Old | $37 | $65 | $117 |
| 60-Year-Old | $76 | $141 | $271 |
| 70-Year-Old | $204 | $410 | $719 |
MONEYGEEK EXPERT TIP
When shopping for life insurance as a 40-year-old, compare coverage options and pick a term length that suits your health, finances and goals.
Best Age to Buy Life Insurance
The best age to get life insurance depends on individual circumstances. Generally, life insurance premiums increase with age, so securing a policy when younger can save you money over time. However, you must consider other key factors when deciding the right time to purchase a policy.
Start by evaluating your current and anticipated financial responsibilities. If you're planning a family, securing term life insurance early can help protect your dependents affordably. For longer-term goals, permanent life insurance provides lifelong coverage, though it typically costs more upfront. Consider using a life insurance rate chart to compare costs for different ages and policy types. This will help you see how life insurance costs change over time, offering insights into whether to purchase now or wait.
Additionally, assess your health. Younger individuals generally qualify for better rates, as insurers factor in age and health risks. By understanding these variables, you can make an informed decision about the best time to get life insurance based on cost and coverage needs.
How Much Life Insurance Do I Need at 40?
The right amount of life insurance coverage at age 40 depends on personal factors like financial obligations, income and dependents. Those with significant responsibilities, such as a mortgage or young children, may need more coverage than others. Consider your current expenses, debts and future financial goals. A good starting point is to calculate 10 times your annual income. Additionally, account for outstanding debts, children’s education and other long-term plans.
A suitable life insurance policy will provide sufficient coverage to meet these needs while fitting within your budget. Evaluating life insurance premiums by age for different coverage levels can help you identify a suitable option. Comparing various policies can also provide a better perspective on costs relative to coverage. The goal is to secure a policy that balances necessary protection with affordable premiums.
MONEYGEEK EXPERT TIP
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. However, adding riders will increase 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 pivotal as you work to secure 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.
Nationwide ranks first among insurance companies for 40-year-olds, with a MoneyGeek score of 97. GEICO comes in second and ranks highest for customer satisfaction. For those prioritizing cost, Allstate is the best affordable life insurance provider. State Farm is the top choice for whole life and 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.
Can you buy life insurance in your 40s?
Yes, you can buy life insurance in your 40s. Buying life insurance in your 40s will be much cheaper than waiting until your 50s. You also have the option to grow tax-free wealth with whole life insurance policies that build cash value over time.
Is 40 a good age to buy a life insurance policy?
Yes, 40 is a good age to purchase life insurance since you can still get less expensive coverage and various options to suit your needs. However, we recommend buying life insurance early in life to save on costs.
What is the best life insurance company for a 40-year-old?
The best life insurance company for a 40-year-old varies based on individual needs and circumstances.
MoneyGeek's analysis found that Nationwide is the best overall company for 40-year-olds. GEICO excels in customer satisfaction and is the second-best overall insurer. Allstate is the top choice for budget-conscious 40-year-olds, and State Farm leads for whole life and no-medical-exam policies.
How much does a life insurance policy cost for a 40-year-old?
On average, life insurance costs $18 per month for a 40-year-old. This cost can vary widely depending on your health status and the type of coverage you choose. Smokers and people in poor health will typically pay much higher rates for life insurance. You will also pay more for whole life policies than term life insurance.
What is the best type of life insurance?
The best type of life insurance depends on your goals. Term life insurance offers lower costs, while permanent life insurance provides lifelong coverage with cash value. Choosing between them depends on your needs, budget and long-term goals.
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. However, 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.
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.
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. However, purchasing a policy early can be advantageous due to differences in life insurance costs by age. Securing coverage sooner helps lock in lower premiums, making it more affordable in the long run.
When is it too late to get life insurance?
Although it’s generally never too late to buy life insurance, your options can become limited as you age. Many insurers set age limits for certain policies — term life insurance often has cut-off ages between 70 and 80, while permanent life insurance may be available up to age 85 or older. Premiums also increase significantly with age, so life insurance costs are much higher for older applicants, especially those with health conditions.
What is the average age of a life insurance buyer?
The average age of a life insurance buyer is generally in the mid-30s to early 40s. Many individuals purchase life insurance in their 30s or 40s as they establish families and financial responsibilities. Buying at a younger age often results in lower premiums, as life insurance prices increase with age over time.
Best-Rated Life Insurance Companies for 40-Year-Olds: Our Ratings Methodology
Why Trust MoneyGeek? We analyzed 1,488 life insurance quotes alongside customer satisfaction, financial stability reports, product offerings and more to determine the best life insurance companies for 40-year-olds.
Recency
Coverage costs and company information for life insurance providers were updated in 2025.
Methodology
MoneyGeek created a scoring system to compare life insurance companies across five categories and ranked them based on their scores. We chose to review these companies based on their broad national coverage and ability to provide an online quote.
MoneyGeek’s Scoring System
In our scoring system, companies can earn up to five points in each of five categories. We then use these category scores to calculate an overall MoneyGeek score out of 100. We applied the following weightings to score insurers:
- Affordability: 30%
- Financial Stability: 25%
- Buying Process: 20%
- Customer Satisfaction: 15%
- Product Diversity: 10%
We evaluated life insurance companies to determine the top providers of whole life insurance for 40-year-olds, using these weightings:
- Financial Stability: 35%
- Customer Satisfaction: 25%
- Buying Process: 20%
- Product Diversity: 20%
For no-medical-exam life insurance, we used the following weightings:
- Product Diversity: 35%
- Financial Stability: 25%
- Customer Satisfaction: 20%
- Buying Process: 20%
We did not consider affordability in our assessment for whole and no-medical-exam life insurance because quotes for whole life and no medical exam policies were not collected. The company that ranks highest among those that offer these insurance options is listed below.
MoneyGeek identified the best cheap life insurance provider for 40-year-olds by applying these specific weightings:
- Affordability: 50%
- Financial Stability: 15%
- Buying Process: 20%
- Customer Satisfaction: 5%
- Product Diversity: 10%
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 (we reviewed annual complaint data from 2020 to 2022, the most recent year available)
- 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 male
- Nonsmoker
- 5 feet 11 inches tall and 175 pounds
- Excellent health rating
Premiums are based on the standard profile unless otherwise noted.
We modified the profile by age, gender, height, weight, tobacco use, health rating and geographic location to collect a variety of quotes and determine the best life insurance company for several types of customers. We collected quotes for term life insurance with varying term lengths and coverage amounts as well.
We identified trends in the dataset and used those patterns to calculate projections and extend the data beyond what was originally collected.
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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!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.