Most Affordable Life Insurance Rates for 41 Year Olds

by | Life Insurance Ages

Getting the best life insurance at 41 isn’t difficult, however you’ll want to know which life insurance companies are best for your situation.  Age is a major factor when determining your life insurance rate. Life insurance rates by age vary and each life insurance company has their own criteria for qualifying when underwriting a policy. Life insurance companies use their own underwriting guides. This is good news for the consumer. With so many companies available, you have the opportunity to find the niche where they can offer the lowest rate.

What do Jane Austen, Margaux Hemingway, King Richard & Dave Mirra, all have in common? They all passed away at the age of 41.

It’s the perfect time to shop for a life insurance policy. Term life insurance premiums are now at an all time low.  Since you are 41, it should be simple to finding an affordable policy. Remember that every life insurance carrier will look at your lifestyle, health, and age before offering a policy. At LifeInsuranceBlog, we work to locate the best carriers based on your goals. We help you find the best carrier based on your unique situation and needs.

For those who have an idea of the policy they want- We always recommend using our life insurance quoter located to the right or bottom of the page. This is for comparing life insurance quotes online, but you can always call us directly at 888-411-1329 and we’ll provide you the help you need.

If you’re 41 years old and seeking a term life insurance policy you probably have questions. We’ll go over permanent and term life insurance policies. You’ll also be provided rate examples for a range of policies. The differences between medical and no medical exam life insurance will be discussed. Finally, the top insurance companies for 41 year olds will be reviewed.

Most Affordable Life Insurance Rates for 41 Year Olds

If you’re wanting to buy term life insurance at age 41, it shouldn’t be hard. Overall, life insurance has been getting less expensive because the overall population is now living longer. There have been major improvements with medicine that have helped drive down costs.  There is also competition within the life insurance industry. Competition will drive down costs.

Now when you’re wanting the best life insurance rates by age, you should know a few things before you put in a life insurance application.

  • Am I choosing the best term life insurance policy at age 41?
  • Should I get a life policy that needs a medical exam or a No Exam policy?
  • What’s the benefit with shopping with a broker & not directly with the insurance company?

Choosing the best term life insurance policy at age 41?

You’re different than everyone else. Your needs are also different. 30 year and 15 year terms are common term life insurance lengths. You need to ask what is your policy going to provide you? What is the purpose? Do you need it short term to only cover the remaining balance on your mortgage? A 10 year term may be appropriate. Do you have young children? Perhaps a 30 year term is best to cover the mortgage and to make sure they can afford college.

Some of the major questions that need answering are: How much do you have left on your mortgage? Is your income easily replaced by your spouse? Do you want your policy to help pay for your children’s tuition?  These are just a few questions that need answering.  We help provide you your life insurance options. We’ll also assist you and answer all your questions.  Ultimately it is your decision.

There are situations where term life insurance may not be the best plan for you. Perhaps you are needing life insurance that doesn’t have an expiration date. Guaranteed Universal Life insurance can provide coverage for you to a specified age.  GUL policies are bought to provide coverage all the way up until age 121. This is a great option if you want peace of mind knowing that you will always have life insurance coverage.

Should I get a life policy that needs a Medical Exam or a No Exam policy?

Buying life insurance with a medical exam is the way that most people purchase protection. For first time life insurance buyers, you may think this is the best option. Your typical life insurance medical exam involves getting the following information:

  • Height
  • Weight
  • Cholesterol
  • Blood Pressure
  • Blood Sample
  • Urine Sample

A medical exam is just like a physical that you receive at your doctor’s office. The information is gathered and sent off to the life insurance company that you selected to apply with. The medical exam is at no cost to you. It’s paid for by your Agent or the Life Insurance company you applied with.

However, before you apply, your life insurance agent needs to do a little investigation. A good agent will ask you about your health and lifestyle in order to quote you accurately. Your information will help your agent estimate your health class and let you know a range of rates you should qualify for.  You don’t want any surprises after you apply and the underwriting is completed.

Now, let’s fast forward to the results of the medical exam. The life insurance company will analyze your medical exam results. They will also look at your medical history from the past (Physician notes, medication history, MVR reports, etc.). Your original quote should be accurate as long as underwriting doesn’t find something in the results that would rate you up.

But what happens if something pops up on your medical exam or in your health history? You typically are going to get an increase in your premium rate if the company offers. You have the potential of even getting denied a policy.

No Exam life insurance benefits

There are a number of people who hate needles and can’t stand the thought of a medical exam.  People often prefer convenience and speed. A Non Medical Exam life insurance policy can provide that.  Non Med policies usually have a significantly quicker application process.  They will have a list of medical questions to qualify, a database check on your medications, and a motor vehicle report.

Non Medical Insurance Rates for a 41 Year Old

If you are interested in comparing the rates for non tobacco no medical vs medical life insurance, here are the rates for $250,000 worth of coverage for 20 year term.

Transamerica $27 per month

American National $44 per month

Sagicor $41 per month

Fidelity $82 per month

Mutual of Omaha $85 per month

Assurity $63 per month

Transamerica and American National typically have the lowest rates for Non Med life insurance. However, they often take longer to get an approval then Fidelity and Sagicor. Transamerica and American National do not require a medical exam, but they’ll request your medical records from your physician. This will typically take around 3-4 weeks to complete. For a quicker alternative, Sagicor can approve your policy in around 15 minutes to 48 hours. Fidelity can approve your policy in around 24 hours.

If you need to get a policy quickly – for example for collateral for a loan or before flying on a plane, go with Fidelity Life or Sagicor – and we can help you apply.

What’s the benefit with shopping with a broker & not directly with the insurance company?

There isn’t a benefit.

That’s the quick answer.  You need to understand that every life insurance company will submit their life insurance rates for approval to each state’s insurance department. Before they submit them, the life insurance companies will make their rates. Once the rates are approved, the life insurance companies must sell the policy at the submitted rate. You will not get a different rate due to where you bought the policy.

It’s important to know that if you apply with a life insurance company directly, you are subjecting yourself to that company’s underwriting rules. You will not know if you’re getting the absolute best rate on the market. You’re only getting their rate. This is even more important if you have a health condition, use a certain medication, or have something that may effect underwriting. Some companies may rate you much higher than a competing life insurance company.

So who should you put in an application with? The only way you can be sure you are getting the best life insurance deal is by working alongside an independent agent. Independent agents are not stuck with one company. They should have access to multiple companies.

LifeInsuranceBlog has access to over 60 top rated companies for our clients. We make sure we provide you the best chance of coverage at the best price. Our clients get the best chance at securing affordable coverage due to the many companies in our portfolio.

Sample Life Insurance Rates for 41 year olds

Below are sample term life insurance rates for Non Smokers. The majority of these quotes require a medical exam (However, several of the Standard rates are Non Medical exam). The rates are organized by gender and health class ratings (Preferred Plus and Standard health classes). If you use tobacco, you can approximate your rate by doubling the rates listed below.


Term life insurance rates for a 41 year old Male with a Preferred Plus Health Rating. 

10 Year Term 15 Year Term 20 Year Term 30 Year Term
$50,000 $11.25 $12.51 $14.00 $17.37
$100,000 $8.80 $10.01 $12.17 $19.35
$250,000 $12.60 $14.85 $20.02 $33.43
$500,000 $19.98 $23.86 $33.04 $60.03
$750,000 $28.39 $35.79 $47.70 $87.28
$1,000,000 $32.29 $41.78 $60.01 $112.80
$2,000,000 $64.93  $83.57 $117.99 $220.06

Updated 5/20/16


Term life insurance rates for a 41 year old Female Preferred Plus Health Rating.

10 Year Term 15 Year Term 20 Year Term 30 Year Term
$50,000 $10.17
$11.16
$11.79
$14.81
$100,000
$8.28
$9.65
$11.13
$15.57
$250,000
$11.59
$13.64
$16.93
$27.16
$500,000
$17.97
$21.89
$28.01
$47.92
$750,000
$25.11
$30.77
$40.10
$69.11
$1,000,000
$28.88
$38.36
$49.08
$89.44
$2,000,000
$54.37
$72.77
$98.14
$173.35

Updated 5/20/16


Term life insurance rates for a 41 year old Male Standard Health Rating.

10 Year Term 15 Year Term 20 Year Term 30 Year Term
$50,000
$13.55
$14.94
$17.08
$21.83
$100,000
$13.37
$16.44
$19.87
$31.62
$250,000
$22.62
$29.44
$36.03
$64.14
$500,000
$39.81
$52.55
$66.09
$120.15
$750,000
$58.72
$76.21
$96.36
$177.45
$1,000,000
$70.19
$96.48
$126.64
$224.38
$2,000,000
$137.46
$187.74
$247.74
$443.23

 


Term life insurance rates for a 41 year old Female Standard Health Rating.

10 Year Term 15 Year Term 20 Year Term 30 Year Term
$50,000
$12.01
$13.05
$13.93
$18.18
$100,000
$12.46
$15.14
$17.32
$24.91
$250,000
$20.18
$26.08
$31.27
$48.14
$500,000
$34.49
$46.19
$55.88
$89.44
$750,000
$49.60
$66.52
$82.09
$131.39
$1,000,000
$61.59
$85.12
$104.14
$169.13
$2,000,000
$118.32
$164.70
$206.22
$336.99


 

What are some of the best term life companies for a 41 year old?

So how do you determine the right company to apply with? It depends on your current health, your past health history which also includes your family history, and your height and. These are the main underwriting factors used to find the right fit. It also depends on your desired amount of coverage and the length of your term. Our job is to help you find which life insurance company will be best for you based on these variables.

These companies generally have the best rates and best term coverage for age 41:

Protective Life
SBLI
Banner Life
Prudential
Transamerica
ING

Conclusion

No matter your situation, always work with an independent life insurance agent. LifeInsuranceBlog represents more than 60 of the top life insurance companies available. Compare rates on our site, or simply pick up the phone and give us a call at 888-411-1329 for a quote customized specifically for you.

Thanks for reading our post, Most Affordable Life Insurance Rates for 41 Year Olds. Please leave a comment or question down below.

 

Michael Quinn

Michael Quinn is the founder of LifeInsuranceBlog. If you have specific questions or face challenges getting coverage. Please email or call me a call at 888-411-1329 - Either way, I'm happy to help you.

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