Life insurance for over 40s
They say life begins at 40, and for many newlyweds, homeowners and proud parents, it’s also a time to start thinking about life insurance. But if you don’t have life insurance by the age of 40, is that a problem? Our guide to over 40s life insurance will explain all.
What is over 40s life insurance?
Life insurance policies are designed to pay a cash sum if you die within the policy term (following a valid claim). Reaching a milestone birthday doesn't automatically mean you need life insurance. Its for customers of all ages who want to financially protect loved ones. So, there isn't a specific ‘over 40s life insurance’ policy. However, many individuals and couples want family or mortgage protection around this time.
Is 40 too late to get life insurance?
No, not at all. We want to make our policies available to as many customers as possible. While it’s true that life insurance is generally cheaper when you’re younger, you can still apply over the age of 40. And if your application is successful, it could prove to be a smart decision.
Is it worth getting life insurance at 45?
People want life insurance to protect loved ones regardless of their age. Many people take out life insurance policies in their mid-40s. Over the years, the average age of starting a family or buying a property has risen. With people delaying these life events, it make sense that some choose to get life insurance after age 45.
What is the oldest age you can get life insurance?
You can take out Legal & General Life Insurance up to the age of 77, or for Decreasing Life Insurance, up to 74. In fact, you can even be covered by Legal & General life insurance up until the age of 90.
How much does life insurance cost over the age of 40?
The cost of life insurance is personalised for each customer. We'll give you an indicative price based on someone who is the same age as you in typical health. You need to tell us how much cover you want, the length of time you want protection to last and whether you smoke. For an indication of costs, you can get a free quote in a matter of minutes.
If you want to go ahead after you've got a quote, we'll ask some health and lifestyle questions. This includes things like medical history and whether your occupation or hobbies are ‘high risk’. Once we've considered this information, we'll let you know if we can cover you and confirm the cost.