Is there an over 40s life insurance plan in the market?
No, there isn't a specific 'over 40s life insurance plan', but this can be the age that many individuals, families and couples may start to think about cover.
While there's no dedicated type of life insurance just for people over 40, there are a range of policies available depending on your needs and circumstances.
At Aviva, our Life Insurance Plan is a type of term life insurance. This means it lasts for a set length of time and pays out a lump sum if you die while you have the policy. Your loved ones could use the money for additional expenses, or to help maintain their living standards. Our Life Insurance Plan isn't a savings or investment product and will only pay out on a successful claim. If premiums aren't paid when they're due or if the policy is cancelled, the plan will end and you'll get nothing back.
In this article, when we say 'life insurance' we are talking about term life insurance.
Why should I get life insurance in my 40s?
There are a few reasons you may want to consider getting life insurance in your 40s:
- You might have financial dependents: whether it be children, a partner or aging parents, having certain types of life insurance in your 40s can help protect their financial future if you die.
- You might have more financial commitments, such as mortgages, loans, or other debts that might not disappear if you pass away; certain life insurance plans could help cover these costs.
- You could use it to help towards covering end of life expenses: life insurance can help cover funeral costs if you don't have a dedicated funeral plan.
- It could provide additional coverage for critical illness: some insurance plans could give you and your family wider support and cover if you’re diagnosed with a serious condition, offering financial support to you and your family.
What is the oldest age you can get an Aviva Life Insurance Plan?
You can take out our Life Insurance Plan up to the age of 77. The length of the policy can last anything up to 50 years, but your age when the policy expires must be younger than 91.
Your circumstances and financial responsibilities may change as you get older. Whether you're thinking about supporting family or planning for future expenses, it's worth reviewing your life insurance needs from time to time to make sure your cover still works for you.
How much does life insurance cost over the age of 40?
It's hard to give an average cost because so many factors have to be considered when any life insurance policy is priced. These include the level of cover you choose, the duration of the cover and your personal circumstances.
Our own Life Insurance Plan starts from as little as £5 a month, but you can use our calculator to get an idea of how much you might pay.
Can I get life insurance with no medical if I’m over 40?
You won’t necessarily need a medical exam – it depends on the health information you provide in your application.
If you're applying for a large amount of cover, we might ask you to have a medical with a nurse or doctor. We assess every application individually so this isn’t something everyone is asked to do.
If we do arrange a medical, it simply helps us understand your health better while we review your application. It doesn’t automatically mean you won’t be accepted.
It's also worth remembering that different types of life insurance have different application processes. For example, some whole of life insurance policies may not require medical checks or health questions when you apply. Unlike term life insurance, which covers you for a chosen period, whole of life insurance is designed to cover you for the rest of your life.
Our Over 50s Life Insurance is a type of whole of life insurance that pays out when you die. It's available to UK residents aged 50 to 80.
Learn about life insurance
Having life insurance can help protect the ones you love. In our selection of articles, we share useful insights and information to help you explore your options. Take a look and see how you can protect your family today.
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Life insurance calculator
Try our life insurance calculator and see how much cover you could get.