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Life insurance at 46

Life insurance at 46

Reviewed By: Rob Pinner

Rob Pinner Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

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At 46, you may be worried that life insurance will cost too much. If your health is fine, you can probably put your concerns to rest.

We are going to give you a rough estimate of how much you’ll pay for your life insurance.

First, let’s look at a few questions you may have about the basics of life insurance and critical illness insurance:


Life insurance at 46What is the difference between term and permanent life insurance?
Why do I need life insurance?
How much life insurance do I need?
How much will my life insurance cost?

 After we talk about the basics for a bit, we’ll show you those sample quotes and start you on the journey towards affordable coverage.


What is the difference between term and permanent life insurance?

Let’s outline the popular options for insurance. Permanent life insurance will pay your beneficiaries whenever you die, these policies do not expire. On the other hand, term life insurance is bought for a particular “term” or length of time. When the term is over, your coverage ends.

Term life insurance is the basic kind of coverage. You won’t get the bells and whistles, but you can insurance at the lowest rate. Term can be active for 10 to 30 years depending on how long you need protection. Want the most bang for your insurance buck? Choose a term plan.

Whole life insurance is more expensive, but it has a cash value inside the plan. You need to decide what’s most important to you.

This article and the sample quotes we show you here are concerned generally with term life insurance. But, at Ogletree Financial Services we also sell many permanent life insurance policies to clients who want a little more out of their life insurance coverage.

In addition to the two main kinds of insurance, term and whole, we have also detailed indexed universal life (IUL).  Indexed UL can be used to provide an income tax-free benefit at retirement.


Should You Buy Life Insurance? 

Who would suffer financially if you passed away? Where would your loved ones be in this situation? Not only has your family lost a parent and a spouse, but there may be serious financial problems that could plague them for years.

Beyond the basic final expenses, income replacement is usually at the top of the list for those seeking life insurance. You know how much your loved ones rely on your paycheck.


Life insurance at 46 College education expense is another are of financial responsibility many parents consider extremely important. If financially supporting higher education for your children is something you and your spouse are planning on, this is something you want to be considering when you are designing your coverage.

4 key features of Indexed Universal Life for College Planning

Small business partnerships often use life insurance as a way to protect the hard work they have invested in their restaurant, store or company. If you’re apart of a business, you need to not only think about your family, but your company as well.

Funding buy-sell agreements with indexed universal life insurance


Life insurance at 46 Another financial commitment many clients like their life insurance to address is a mortgage or other large debt. You don’t want such large financial obligations hanging over the heads of your loved ones. Indexed Universal Life for Mortgage Protection?


How much life insurance do I need?

This is where the need for a qualified agent becomes clear. What family needs you want to insure and for how much can be a complicated process, even for a simple term policy.

A lot of the financial experts like Dave Ramsey suggest taking your annual income, and multiplying it by 10. This should give your family enough money to get back on their feet.

For example, let’s say you make $43,000 a year. Well, multiply that by 20 and you get $860,000. This nest egg will then generate $43,000 a year for your family at an assumed and fairly conservative interest rate of 5%. If you wanted to assume only a 4% interest rate you would multiply by 25 and get $1,075,000.

In most cases, this technique works perfectly well. Every family is different though. You need to do the math to ensure it will be large enough for your particular situation.

A 46-year-old man can obtain a 20-year $1,000,000 term life insurance policy for less than $110 a month if he qualifies at a preferred plus rating. A 46-year-old woman for as low as $80 a month.

This simple method is a good place to get started, but in order to properly address an important financial decision like this, much more attention to detail is recommended. We haven’t even mentioned education expenses or a mortgage. At Ogletree Financial Services we can thoroughly address all these issues with you and pair you with the ideal carrier from the over 30 top insurers we represent.


How much will my life insurance cost?


Now, let’s talk about the important part, the cost. The first question just about every applicant asks us is, “can I afford a life insurance plan?” – the answer is yes. In fact, it’s a resounding YES.

We can’t give you a specific quote without getting some basic info from you, but we can provide you with a ballpark figure. First of all, there are a lot of variables in calculating quotes, so the quotes we give you could vary wildly.

These generic quotes below is for a 46-year-old man who is in excellent health. He doesn’t smoke cigarettes or cigars, and he is pretty active. We gave you quotes for a variety of different policies.  All of these are fully underwritten and none are no exam policies.


46-year-old Male Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

  $100,000 $250,000 $500,000 $1,000,000
10-year $14.36 $20.46 $34.95 $59.62
15-year $16.78 $25.29 $46.22 $84.15
20-year $21.09 $31.63 $56.26 $105.88
25-year $26.56 $45.63 $83.91 $162.22
30-year $30.42 $53.78 $95.47 $184.03

46-year-old Male Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

  $100,000 $250,000 $500,000 $1,000,000
10-year $20.30 $40.02 $71.71 $118.85
15-year $24.39 $45.41 $84.57 $155.18
20-year $29.64 $56.79 $106.66 $202.76
25-year $42.13 $84.68 $160.04 $306.56
30-year $50.17 $98.79 $189.35 $357.00

46-year-old Female Preferred Plus Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker life insurance rates

  $100,000 $250,000 $500,000 $1,000,000
10-year $11.76 $18.73 $29.38 $50.52
15-year $12.86 $20.46 $35.38 $63.94
20-year $14.70 $25.21 $44.03 $82.52
25-year $21.71 $35.27 $63.12 $120.22
30-year $24.22 $40.01 $72.10 $135.26

46-year-old Female Standard Health Category
Term Life Policy – Sample Monthly Premiums – Non-smoker

  $100,000 $250,000 $500,000 $1,000,000
10-year $18.60 $29.97 $54.41 $95.50
15-year $20.39 $36.66 $72.14 $123.18
20-year $23.76 $44.75 $87.26 $153.45
25-year $31.41 $61.33 $116.72 $224.35
 30-year $35.42 $70.13 $133.79 $257.42


Life insurance at 46

We hope this article gave you all the information you need to make an informed decision. If you’re still unclear about what to do next, let’s make it simple for you – call us.

We aren’t restricted to know carrier. We work with 60 carriers and we aren’t going to sell you a more expensive plan. Your insurance needs are our number one priority.

Getting started is easy!

  • Give us call at 1-800-712-8519!
  • Leave us a message on our contact page to get a custom quote!
  • Use the free term quoter on the left side of this page!

Frequently Asked Questions

How much is term life insurance for a 46-year old?

Your premium will depend on your rating with the life insurance carrier. They will look at your age, build, health, and other factors to determine which class you will fall into. An independent life insurance agent can provide you with quotes from several different carriers.

At what age should you get life insurance?

The younger the better, ideally age 35 and under. It is possible to get life insurance at almost any age. An independent life insurance agent can provide you with quotes.

What is the cost of a $500,000 term life insurance policy?

A sample premium for a 20 year term policy on a 46-year old female is the standard non-tobacco health class is $87.26 per month.

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