Last Updated: April 2021
Being 43 years old is often considered a bit of a transitionary period with regard to financial planning, and purchasing life insurance is an important decision.
Below you’ll learn why people buy life insurance at age 43 and see sample rates for 43-year-old males and females. You’ll also be able to review the best companies and types of policies for people in your age range.
- Why Do I Need Life Insurance at Age 43?
- Sample Rates: The Cost of Life Insurance for 43-Year-Olds
- The Best Life Insurance Companies for 43-Year-Olds
- Choosing the Right Type of Life Insurance at Age 43
- How to Find the Best Life Insurance Policy at 43 Years Old
Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…
You can find very affordable life insurance at 43-years-old. A 43-year-old male can get $250,000 in 20-year term coverage for as low as $29 per month. A 43-year-old female can get the same policy starting at $24 per month. The best companies for age 43 include Banner Life, AIG, and Prudential.
Why Do I Need Life Insurance at Age 43?
One financial asset that is most frequently overlooked by 43-year-olds hoping to better manage their wealth is life insurance.
There are many different reasons that a 43-year-old may want to purchase a life insurance policy.
If you currently have any financial dependents, your spouse, your children, etc., then you may be looking for ways to provide them with financial security even in the event of your death.
Life insurance allows you to make a small sacrifice each month in order to assure that your family will always be taken care of.
Even if you do not currently have any financial dependents, if you plan on having any in the future, applying for a life insurance policy at age 43 is still a good idea because rates get more expensive as you age.
Your age will impact the cost of life insurance more than any other variable. If you are able to secure a policy while you are still young, then you will be able to significantly reduce your monthly premiums, saving you $1000’s down the road.
Sample Rates: The Cost of Life Insurance for 43-Year-Olds
Below are sample rates for three different types of life insurance policies for 43-year-olds.
Rates for Term Life Insurance for 43-Year-Old Males
The table below has sample monthly term life insurance rates for a 43-year-old male in excellent health (preferred health class):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Years | $10 | $11 | $18 | $31 | $55 |
| 15 Years | $11 | $13 | $22 | $39 | $71 |
| 20 Years | $13 | $16 | $29 | $52 | $97 |
The table below has sample monthly term life insurance rates for a 43-year-old male in average health (standard health class):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Years | $13 | $14 | $26 | $47 | $85 |
| 15 Years | $15 | $19 | $35 | $64 | $123 |
| 20 Years | $17 | $22 | $45 | $83 | $160 |
Rates for Term Life Insurance for 43-Year-Old Females
The table below has sample monthly term life insurance rates for a 43-year-old female in excellent health (preferred health class):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Years | $9 | $10 | $16 | $27 | $45 |
| 15 Years | $10 | $11 | $20 | $34 | $60 |
| 20 Years | $11 | $13 | $24 | $42 | $77 |
The table below has sample monthly term life insurance rates for a 43-year-old female in average health (standard health class):
| Term Length | $50,000 | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|---|
| 10 Years | $12 | $12 | $21 | $36 | $66 |
| 15 Years | $13 | $15 | $28 | $50 | $94 |
| 20 Years | $15 | $18 | $36 | $65 | $121 |
When all else is equal, life insurance for 44-year-olds will be more expensive than at age 43.
The Best Life Insurance Companies for 43-Year-Olds
There are many potential life insurance carriers to choose from. Below are our top picks for the best life insurance companies at age 43. Keep in mind that it’s always best to compare rates from multiple companies before choosing.
- Protective Life – best for term life insurance. They offer low rates and great options if your term coverage expires and you still need some coverage.
- Northwestern Mutual – best for whole life insurance. They have a strong dividend performance for people in their 40’s.
- AIG life insurance – best for high-risk life insurance for age 43. They have lower-priced policies for people with many unique high-risk medical conditions.
Having access to a company that can provide you with a flexible range of options can be valuable. Though these companies represent just a small fraction of the options that you have available, this list is an excellent place to begin your search.
Choosing the Right Type of Life Insurance at Age 43
There are different types of life insurance policies available and the one that makes the most sense for you will depend on your current financial situation. Below are the most common types for people at 43 years old.
Term Life Insurance
Term life insurance is the most affordable type of life insurance and is also the most popular. With a term life insurance policy, you will be guaranteed a specific level of protection for a predetermined amount of time.
Typically, a term life insurance policy will last for 10, 20, or 30 years. These policies are excellent for individuals with families that only require coverage for a certain amount of years.
For example, if you have a newborn child, a 20-year term policy might make sense so they are protected until they reach college.
Permanent Life Insurance
Permanent Life Insurance is a type of life insurance coverage that will last you for your entire life. Though these policies do cost more than term life insurance, the coverage they provide is also more extensive. The most common type is whole life insurance, although there are other types of permanent policies.
Additionally, many permanent life insurance policies will also offer a cash value that accumulates as time goes on. Consequently, these policies are among the best for those who hope to accumulate wealth.
Burial Life Insurance
Burial insurance is usually for lower coverage amounts, but there are many situations in which these policies make the most sense.
- Burial insurance is designed to pay for end-of-life expenses such as a funeral, burial, or cremation.
- These policies can help remove a financial burden that might otherwise be endured by your family.
- They usually consist of $5,000 to $25,000 in coverage.
Every policy has pros and cons, but by taking the time to do your research, you will be able to find the best type of policy for your situation.
How to Find the Best Life Insurance Policy at 43 Years Old
The life insurance policy that makes the most sense for one person may not be the policy that makes the most sense for another.
There are many different things that need to be considered during the life insurance application process including your current financial situation, your current number of dependents, your long-term financial goals, and more.
Fortunately, there are many different things that you can do in order to help determine which life insurance policy makes the most sense for you and your family.
Work with an Independent Agent
One of the best ways to objectively compare all your options at once is to work with an independent life insurance agent or website. They will be able to help you compare multiple carriers so that you can choose the best rates and policy for you.
Before committing yourself to purchase a life insurance policy, take the time to consider at least five different companies. This will help ensure you get low rates.
Other Tips for Getting Low Life Insurance Rates
Other effective strategies for finding the best life insurance policies for 43-year-olds include asking your friends for references, speaking with a financial adviser, and reaching out to companies that currently provide you with other financial services.
Even if life insurance is just a small portion of your financial portfolio, it is certainly something that can offer protection in a way that many other financial assets simply cannot.
Give us a call today to work with one of our experienced independent life insurance agents who can compare the best life insurance rates for 43-year-olds across some of the best life insurance companies on the market.
Or, get started using our quick and easy life insurance quoting engine!
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