Secure affordable life insurance in your 40s
Securing life insurance in your 40s is about making sure that your family are taken care of financially should you no longer be around to provide
At this stage in your life, you may be earning a steady income, living in your own home, and settled down with children who rely on you.
You may also be thinking about the future and how your family would cope if you were no longer around to support them.
For this reason, your 40s is an ideal time to arrange life insurance, which pays out a cash cash payment if you die.
Over 40 life insurance calculator
complete our handy calculator with the costs you'd like your policy to cover and calculate how much over 40s life insurance you may need.
The amount of life insurance you need depends on your financial obligations and what you want to provide for your loved ones. A common rule of thumb is to have cover worth 10 times your annual salary, though your individual circumstances may require more or less.
Consider the following when calculating your life insurance needs:
- Outstanding mortgage balance
- Other debts and loans
- Income replacement for your family (typically 5-10 years of salary)
- Children's education costs
- Funeral expenses (typically £4,000-£10,000)
- Any specific financial goals for your dependents
For example, if you have a £200,000 mortgage, earn £40,000 per year, and want to provide 10 years of income replacement, you might need around £600,000 of cover (£200,000 + (£40,000 × 10)).
Use our free comparison tool to get personalised quotes from 50+ UK insurers, including Life Insurance Over 40, and find the right level of cover for your needs at the best available price.
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What is the best life insurance for over 40s?
Thebest life insuranceif you’re aged over 40, will depend on your individual circumstances.
it's advisable to consider what aspects of your life you must protect, the best type of cover to suit this and how much life insurance you need.
There are three main life insurance policy options for applicants in their 40s:
