Life Insurance For Over 40s
- £200k cover for less than £6 a month*
- Your premiums will never increase
- Awarded ‘Best Life Insurance Provider’ by YourMoney.com 2023
What is life insurance for over 40s?
When you hit 40, it’s likely that you’ve reached certain milestones in your life. You may have kids and you might own your own home. And you’ll probably be thinking about how to protect your family financially in case you’re no longer around.
Life insurance for over 40s from Beagle Street protects your family and dependents by leaving them a lump sum if you pass away. As soon as you take out the policy you’re insured, giving you the peace of mind that the people you care about most will be looked after.
How does life insurance for over 40s work?
If you have a family, your life insurance will help them continue their lives once you’re gone by paying out a lump sum when you die.
When you take out a life insurance policy with us at Beagle Street, it will be tailored around your personal circumstances and what you want to protect. You can choose decreasing term cover that decreases in line with the value of your mortgage – this is designed to protect your home and make sure your family can continue to live there. Another option is level term cover which involves leaving a cash lump sum to your family. The payout remains the same throughout the duration of your policy.
With life insurance for over 40’s, there’s no one size fits all approach. You have the option to tailor your cover amount and policy duration based on what you want to protect. When you take out life insurance at 40, your premiums are calculated on your current age and your health at the time you apply. They won’t increase once your policy starts (unless you request to change your policy), meaning if you take out life insurance earlier it can be cheaper in the long run.
How much does life insurance for over 40s cost?
As you get older, the risk of pre-existing medical conditions get higher. But every policy is tailored around the individual, and will take into account your lifestyle, health and any medical conditions. The type and length of the policy will also be a factor in the cost.
The length of cover – You may choose to cover the term of your mortgage or you may want your policy to remain in place until your children are financially secure.
Type of policy and cover – Level term policies where the payout remains the same are usually more expensive. Decreasing policies on the other hand where the payout decreases in line with your mortgage payments tend to be cheaper.
The amount of cover – This should be based on your individual circumstances and the reasons for taking out the policy. Some people want to protect their home, while others want to leave a lump sum for their kids. At Beagle Street, you’ll find a tailored life insurance policy that works for you and your family.
Your health and lifestyle – Your age, health and lifestyle all affect your premiums. This is because they affect your chances of developing a critical illness, so you’ll need to let us know about any pre-existing medical conditions and whether or not you’re a smoker (including vaping).
The benefits of life insurance for over 40s
Everyone has their own reasons for taking out life insurance, but often it will be to protect your family if you died. Our life insurance will help to:
Protect your home – Your home is likely your biggest investment and your biggest debt. If you die, your life insurance policy can help pay off your mortgage or cover your rent to keep your family secure at home.
Cover funeral costs – When you die, your family may be left with unexpected costs like funeral costs. Life insurance for over 40’s can cover these costs and ensure your loved ones don’t have the pressure of a big bill at such a difficult time.
Pay off debts – If you die and leave your family with debts that they need to cover, these can be paid off using your life insurance.
Cover bills and essentials – Would your family struggle to pay bills without your income? Life insurance for over 40s can ensure these essential expenses are covered and your loved ones are protected.
Get a quote today or speak to the team
At Beagle Street we’re here to support you through the application process. If you’re ever unsure about any of the questions in the application, we have a team of experts on hand to help.
or call us
0800 048 0480
Included with every Beagle Street policy
Estate planning kit
Accidental death benefit
Early funeral payout
Amazon gift card^
Free Beagle soft toy^
*Based on a 30 year old non-smoker, £200k decreasing term cover for 20 years
^Available only when purchasing a policy directly through Beagle Street. Within 60 days of paying the 2nd monthly payment, the soft toy will be dispatched. The gift card value varies depending on monthly premium. Within 30 days of paying the 6th monthly payment, you will receive an email to claim your e-gift. Full Terms and Conditions