As you age, the cost of life insurance typically increases. However, most of our clients are surprised to find out that purchasing a term life insurance policy in their 40s, isn’t that much more expensive than what it would have cost a decade earlier.
At Term Life Advice, we work with more than 60 top-rated life insurance companies to help our clients find the best and most affordable policy, no matter their age.
Continue reading to learn more about the most affordable life insurance options available for a 42 in average to excellent health.
Quick Article Guide
1. Choosing the Best Life Insurance Policy
2. Saving Money on Life Insurance
3. Cheap Term Life Insurance for 42-Year Olds
4. Monthly Term Life Insurance Rates for a 42-Year-Old Male
5. Monthly Term Life Insurance Rates for a 42-Year-Old Female
6. Consider a Guaranteed Universal Life Insurance Policy
Choosing the Best Life Insurance Policy
Before you begin looking at prices or choosing a policy, it’s important to decide what you want your life insurance to accomplish. Are you looking to support your family by replacing your income for a certain amount of months? Or do you need it to cover additional expenses, outstanding loans, a mortgage, or college tuition for your children? The goal you set for your coverage should help you narrow down the type of policy and amount of coverage you need.
Another thing to consider is the term length. You will need a policy with a term that lasts long enough to cover your goals. For example, if you want your life insurance to replace your income, you will need a term that lasts until you retire. If you’re looking to pay off a mortgage or other substantial debt, you’ll need a term that will last as long as your projected payments.
Most of our clients want a life insurance policy that will offer their family security and protection. The trick is finding that coverage at an affordable price. While it may seem daunting, we have full confidence in our expertise to help our clients find a reasonably priced policy, even if purchasing it for the first time at 42 years old.
Saving Money on Life Insurance
Working with an independent insurance agency like Term life Advice gives you access to dozens of life insurance companies and inexpensive policies. We can help you compare policies side by side so that you can choose the coverage that saves you the most money and makes the most sense for you and your goals.
As a no-cost brokerage, our shopping services are completely free, and their is no cost to apply for insurance. By asking you a few questions about your health and lifestyle, we can match you with the company that is the most lenient for your specific health profile.
Cheap Term Life Insurance for 42-Year-Olds
While anyone in good health can use the online quote tool for accurate rates, someone with a more complicated medical history or pre-existing conditions should consult with us directly because every insurance company has their own way of pricing medical conditions.
To give you an idea of how affordable life insurance for a 42-year-old can actually be, check out the table of sample rates below. While these rates are fairly accurate, they are still just samples and can fluctuate. For an exact estimate of your rates, use our free life insurance quote tool at the bottom of this page.
The rates listed are for NON-SMOKERS; the rates for smokers are generally twice the amount of the rates below.
Monthly Term Life Insurance Rates for a 42-Year-Old Male
“Preferred” Health Class (With No or Minor Health Issues):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Year | $10.33 | $10.47 | $16.90 | $28.34 | $47.61 |
| 15 Year | $10.67 | $10.67 | $20.89 | $34.64 | $63.31 |
| 20 Year | $12.92 | $12.92 | $26.08 | $45.47 | $83.76 |
“Standard” Health Class (With Some Controlled Health Issues):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Year | $10.69 | $14.06 | $24.42 | $43.36 | $77.23 |
| 15 Year | $16.47 | $17.40 | $31.30 | $56.13 | $102.42 |
| 20 Year | $14.43 | $20.97 | $39.05 | $71.92 | $137.88 |
Monthly Term Life Insurance Rates for a 42-Year-Old Female
“Preferred” Health Class (With No or Minor Health Issues):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Year | $11.61 | $10.04 | $15.18 | $24.66 | $41.31 |
| 15 Year | $12.52 | $11.36 | $17.97 | $29.72 | $54.16 |
| 20 Year | $12.59 | $12.59 | $21.90 | $37.34 | $67.82 |
“Standard” Health Class (With Some Controlled Health Issues):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Year | $9.59 | $13.21 | $21.45 | $36.94 | $66.28 |
| 15 Year | $14.23 | $15.57 | $27.38 | $48.79 | $89.44 |
| 20 Year | $12.14 | $17.54 | $33.00 | $57.31 | $106.31 |
Consider a Guaranteed Universal Life Insurance Policy
When considering your term length options, you may prefer a policy that will last your entire lifetime. Guaranteed universal life insurance can be an excellent choice for men and women in their 40s who want an affordable amount of life insurance that does not expire. It is a permanent life insurance policy that maintains the same level premiums for the rest of your life.
A combination of guaranteed universal life insurance and term life insurance coverage may actually be a great option for you. Many of our 42-year-old clients will purchase the majority of their coverage in term life insurance, and then take out a smaller guaranteed universal life insurance policy as a backup for when their term insurance expires.
Searching for a life insurance policy at the age of 42 does not need to be a stressful or complicated process. At Term Life Advice it’s our goal to help you find the policy and pricing that works for you, regardless of your age, health concerns, or issues. We are experts in this field and can help you find the best coverage. Use our free life insurance quote tool below to get an idea of your rates, or contact us directly by calling: 855-902-6494.
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