Over 40 life insurance cover

From the age of 40, it’s likely you're beginning to think about protecting your family financially if you were no longer around.

When arranging life insurance over 40, it's always best to compare multiple quotes to secure a good deal. At Reassured we can help you do exactly that.

We can arrange cover from 20p-a-day and we don’t charge a fee for our award-winning broker service.

Simply get in touch to find cover and protect your loved ones today.

Read on for more information on life insurance over 40…

How much is life insurance for a 40-year-old?

At Reassured, we can arrange over 40 life insurance cover from as little as 20p-a-day.

Securing life insurance in your 40s is no different from arranging cover at any other age.

The cost of your life insurance premium is based on the amount of risk you pose to the insurer.

They take into account key factors such as your age, health, smoking status, policy term and cover amount.

As a result, the sooner you arrange your policy, the younger and healthier you are and therefore the cheaper your premium is likely to be.

Get in touch today to compare quotes and secure the best deal from our panel of insurers.

How much life insurance do you need?

Enter your financial commitments below to understand the level of over 40 life insurance cover you require.


£137,934 is the estimated mortgage debt per household in the UK.

The purchase of a home is likely to be the largest financial commitment any of us will make in our lifetime. Your life insurance should cover your remaining mortgage balance to allow your loved ones to stay in the family home should anything happen to you.

Source: Moneynerd.co.uk


The average monthly household budget in the UK is £2,548 (that’s £30,576 per year), which is spent on transport, food & drink, utilities (gas, electricity, water etc), clothing, council tax and leisure activities.

With energy prices hitting a record high and the cost of living rising sharply in the UK, you may wish to factor in utility bills and family living expenses into your cover.

Source: Nimblefins.co.uk


The average personal debt of UK adults has risen to £34,566 (not including mortgage debt), with credit cards, personal loans and overdrafts being the most common forms of debt.

Factoring in any debts into your life insurance cover means that, if they need to be paid back from your estate after your passing, your loved ones won’t miss out financially.

Source: Money.co.uk


According to SunLife, the average cost of a funeral in the UK is £3,953 (with the overall cost of dying at £9,200).

Funeral costs have increased by 116% since 2004 and are a significant cost which should be factored into the amount of life insurance you secure.

Source: SunLife.co.uk


When factoring in cover for your children, you may wish to calculate the amount based on how long it is until they reach financial independence.

This could include childcare (£7,000 per year for part-time care), school expenses (£1,519 per school year for uniforms, lunches, stationary etc), as well as an additional sum for further education (this could be a contribution of up to £5,000 per year).

Sources: Daynurseries.co.uk, Primarytimes.co.uk & Savethestudent.org


2 in 5 adults say they are relying on an inheritance to fund their retirement.

Factoring in an inheritance to your sum assured could allow loved ones to live a more financially comfortable life. Alternatively, you could leave a cash gift to a charity of your choosing.

Source: Moneyage.co.uk


If you’re lucky enough to have your own savings or are part of the 30% of UK residents who already have a life insurance policy in place, this can provide financial protection for loved ones.

By entering your current cover, savings or death in service amount you can reduce the sum assured you require.

Source: Scottishbusinessnews.net

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Should I get life insurance in my 40s?

Deciding whether or not to arrange life insurance in your 40s will depend on your individual circumstances.

It can be an extremely beneficial time for anyone looking to protect the financial future of your family.

You're still a relatively young adult and can experience relatively low premiums with regards term-based cover, but old enough that a whole of life policy could be a cost-effective option.

It all depends on what it is you're looking to protect as to which type of cover best meets your specific needs.

From the age of 40, you may be looking to help protect the remaining balance of your mortgage, provide your loved ones with an inheritance or help cover funeral costs.

Ultimately, we believe that regardless of age, everyone would benefit from some form of life insurance.

Contact our award-winning team and we'll provide you with all of the information you require to make an informed decision.

Tips for affordable life insurance for over 40

At Reassured, it's possible to arrange life insurance from just 20p-a-day, however, this depends on your individual circumstances.

The good news is, there are a number of steps you can take to ensure you pay as little as possible for your life cover over 40:

  • Always compare quotes to secure a great deal
  • Select the right type of cover to meet your needs, to avoid paying for cover you don't need
  • Only arrange the level of cover you require to avoid paying to be overprotected
  • Arrange cover when you're young as this typically secures cheaper premiums
  • Live a healthy lifestyle to reduce the risk you pose to the insurer

Best life insurance for over 40

The best life insurance if you’re over 40, will depend on your individual circumstances.

You should consider what aspects of your life you're looking to protect, the best type of cover to suit this and how much life insurance you need.

Different types of cover are better suited to protecting certain elements in your life.

Keep reading to determine the right type of life insurance to best meet your needs or get in touch for your free quotes.

Term life insurance over 40

Term-based life insurance provides a cash pay out to loved ones if you pass away within the set time period.

It tends to be a cheaper form of cover as a life insurance pay out is not guaranteed. If you outlive your policy term, the cover expires and no pay out is issued.

Term-based life insurance cover comes in two different forms.

Level term life insurance provides a fixed sum assured, meaning that regardless of when you pass away during the policy term, your loved ones will receive the same amount.

This type of policy is ideal for helping cover balances which don’t diminish over time. For example, an interest-only mortgage, an inheritance or help with day-to-day living costs.

Decreasing term life insurance, on the other hand, provides a sum assured which reduces over the term of the policy.

Therefore, the further into the cover you pass away, the less your loved ones will receive.

As a result, this type of policy is ideal for helping cover balances which will decrease over time, such as a repayment mortgage.

Regardless of which policy type best meets your needs, term-based cover is suitable for those who require protection for a fixed period, whether that be until your mortgage is cleared or until your children are financially independent.

To get your free term-based quote today, contact our award-winning team.

Whole life insurance over 40

For those wanting a guaranteed pay out, whole of life insurance provides cover for as long as you live and can be a good option in your 40s.

The sum assured remains fixed, meaning that regardless of whether you pass away 2 or 20 years into the policy, the amount paid out remains the same.

This type of cover does tend to be more expensive though as the insurer is certain to pay out at some point.

However, arranging whole of life insurance comes with an important trade-off.

Whilst typically the younger you are, the cheaper your premiums; you'll also be paying into the policy for a longer period, thus risking paying more into the policy than the overall sum assured.

In your 40s, the likelihood of this reduces, making it a much more appropriate time to consider whole of life cover.

To determine if whole of life cover is right for you, contact our team today for all the information you need to make an informed decision.

Guaranteed life insurance over 40

Unfortunately, any life insurance policy you arrange during your 40s will require you to provide medical information.

As a result, acceptance can't be guaranteed as this will be based on your health status.

Therefore, if, in particularly poor health, your application may be declined.

However, even if your medical history is less than perfect, we may be able to help you.

Our dedicated impaired life insurance team could help those applicants who have previously been declined.

So get in touch with our team today and discover the options available to you.

Life insurance over 40 no medical

Unfortunately, in your 40s there's no option for obtaining cover without providing medical information, (regardless of what is said elsewhere on the internet).

An over 50s plan is the only form of life insurance which provides guaranteed acceptance without the need to disclose any health information.

However, the age criteria for this type of cover is 50 - 85 years old. So, if in your 40s, this makes you ineligible.

It may be tempting to hold out until you reach this age bracket, however, there are a number of things about over 50s plans it's important to know...

Whilst acceptance is guaranteed, premiums tend to be higher to accommodate the unknown risk to the insurer.

Therefore, even if your health is less than ideal, you may benefit from lower monthly premiums by disclosing your issues at a younger age.

Secondly, the sum assured is significantly lower than that available on either term-based or whole of life cover.

Both term-based cover and whole of life cover offer a potential sum assured of up to £1,000,000, whereas the maximum available through an over 50s plan is £20,000.

Therefore, it's important to consider the level of coverage you require.

Life insurance for parents over 40

Today’s society is increasingly becoming career-focused, leaving many couples waiting to start a family until later in life.

As a result, it's not uncommon for those in their 40s to have very young children who depend on them financially.

Without adequate cover, if the worst were to happen to you, who would provide for your family?

Arranging life insurance can ensure that if you were to pass away your family could continue their lives with as little financial disruption as possible.

A pay out could be used to help:

  • Clear the mortgage
  • Cover your funeral expenses
  • Fund additional childcare
  • Help with daily living costs
  • Provide inheritance/donate to charity
  • Replace your lost income

To arrange cover to protect your family from as little as 20p-a-day, contact our team today.

Joint life insurance for over 40

Joint life insurance for over 40s could save you up to 25% on your premiums when compared with that of two single policies.

Joint cover provides protection for two people simultaneously, however, is only available with regards to term-based life insurance.

A pay out is made upon the first death, at which point the cover expires and the surviving partner is left unprotected and requiring new cover at an older age.

This could result in a significant premium increase if the original cover wasn’t arranged until in your 40s.

As a result, to ensure adequate cover, if your budget allows it's usually more beneficial to arrange two single policies.

To arrange over 40s joint life insurance, contact us today.

Critical illness cover

When arranging life insurance with Reassured, it's possible to include critical illness cover too.

Whilst this will increase the cost of your premiums, it does mean that if you're diagnosed with a serious illness you could make a claim.

The pay out could then be used to make any necessary adaptations to your home, fund a carer or simply replace an income if you were no longer able to work.

Adding critical illness cover to your life insurance, however, does mean that if you make a claim, your policy is no longer valid.

It's possible to purchase critical illness cover as a standalone product with some providers, but this will depend on your budget as it'll require paying two monthly premiums.

To arrange critical illness cover, contact Reassured today.

Terminal illness cover

All over 40 term life insurance policies provided through Reassured come with terminal illness cover as standard at no extra cost.

This means that if you're diagnosed with a terminal illness and are predicted to live less than 12 months, you can make an early claim.

The pay out can then be used to help fund whatever you like. For example, private medical treatment, make financial provisions for the future or simply enjoy with your loved ones.

Financial responsibilities in your 40s

As discussed it's becoming much more commonplace to experience life’s major events at an older age.

With people establishing their careers before starting a family and the average age of a first-time buyer now being 32[1], it's not unusual to have significant financial commitments well into your 40s.

Without adequate life insurance in place, if the worst were to happen to you could your family:

  • Afford to pay the mortgage (average mortgage £142,755[2])
  • Replace your lost income
  • Fund children's nursery fees (average full-time fees £285.31 per week[3])
  • Maintain their existing lifestyle

The good news is that life insurance is easy to arrange in your 40s at an affordable price.

Although now classified as middle-aged, the world of life insurance may actually be more accessible than if you were 10 years younger.

In your 40s, you’re more likely to still benefit from good health but also be far enough through life that arranging lifelong cover may also be beneficial.

Meaning not only are you still young enough to obtain reasonably priced premiums with regards to term-based cover, but you are also far enough through life that whole of life may be a cost-effective solution.

Compare over 40 life insurance quotes

The cost and cover of life insurance over 40 can vary significantly between insurers.

To ensure you get the right cover, at a great price, it's imperative to compare quotes.

At Reassured we can source these quotes for you - saving you time and money.

Simply get in touch today and we'll compare some of the top insurers, to find you the best deal.

And the best bit...our award-winning life insurance broker service is completely fee-free.

Whether you are in your early 40s or late 40s we will do our best to help you find a policy that provides the protection you need.


[1] https://www.ft.com/content/fc06422e-344f-11e9-bd3a-8b2a211d90d5

[2] https://www.finder.com/uk/life-insurance-statistics

[3] https://www.daynurseries.co.uk/advice/childcare-costs-how-much-do-you-pay-in-the-uk

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