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Your 40s are a great time to focus on yourself, with stable earnings and growing children. However, your family’s financial security remains a priority. Life is unpredictable, and term insurance for 40 year old individuals ensures their loved ones are protected. By paying regular premiums, policyholders provide a safety net for their family in case of an untimely loss. Let’s discuss the best term insurance at 40 years in India.
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The best term insurance plan for 40 years age ensures that your financial dependents like spouse and kids are covered in case of any eventuality. Here is a list of the best term life insurance for 40 year old in India offered in 2025:
*Disclaimer: ~Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
*Note: The table is made in reference to a 41 year old non-smoking male earning a salaried income of 40 Lakhs per annum, choosing Rs. 1 Crore life cover for 30 years.
*Note: Before buying a term plan, make sure to familiarize yourself with what is term insurance.
Term Plans
At 40, you might be earning well, but the financial responsibilities are often at their peak. Here’s why getting term insurance at 40 is important:
Affordable premiums: Compared to the other types of life insurance plans, a term plan for 40 years is still one of the most affordable ways to secure a large life cover.
Income protection: In the event of your unfortunate demise, the term insurance payout will act as an income replacement for your family.
Family’s Future Goal: With term insurance for 40 year olds, you can ensure that your family can fulfil their lifelong goals, like paying for the child’s higher education or funding their business endeavours.
Protection from Debts: Your family can use the term insurance payout to pay off the remaining home loans, children's education, and other long-term expenses that are more common in your 40s.
Health risks: Various health issues may start arising in your 40s, making the purchase of term insurance in your 40s harder or more expensive later.
Here is a list of the most common benefits of buying a term insurance for 40 year old in India:
Large cover at low premiums: Get a significant sum assured for a relatively affordable premium.
Flexibility: You can choose to pay the premiums for your term plan for 40 years in the premium payment mode and term as per your preference.
Long policy term: With term insurance for 40 year olds, you can get coverage till 99/100 years of age, which is your whole life.
Tax benefits: Enjoy tax deductions on premiums paid under Section 80C and death benefits under Section 10(10D) of the Income Tax Act.
Peace of mind: By knowing that your family will be financially protected in case of your untimely demise, you can lead a stress-free life.
A simple rule of thumb is to have a sum assured that’s 10–15 times your annual income. This amount will cover living expenses, children's education, and any outstanding loans. However, it is suggested that you use the human life value calculator for a more accurate estimate of the term insurance cover you are eligible to buy.
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If you're in good health, you can still secure high coverage at affordable premiums in your 40s.
Getting a term life insurance plan is never too late, so don’t hesitate.
Assess your debts to ensure they are covered in case of an unexpected loss.
Review your insurer's claim settlement ratio before purchasing.
Term insurance can also serve as a part of your retirement planning.
Select riders carefully based on your actual needs.
Below mentioned are the ways to buy the best term insurance plan for 40 years age that suit your requirements:
Step 1: Visit Policybazaar’s Term Insurance Page
Step 2: Submit your details, like Name, Phone Number and DOB and then click on “View Plans”
Step 3: Enter your occupation type, educational qualifications, yearly income and smoking preferences.
Step 4: You can compare from among the numerous insurers that appear and select
Step 5: Proceed to make your payment through your preferred mode, such as debit, credit or net banking
*Note: Ensure the financial security of your loved ones by investing in the term insurance for 1 crore.
Term insurance is essential for individuals of all age groups, but buying a term insurance in your 40s becomes even more important as your retirement nears and the security of your dependents becomes increasingly important. You can not only secure your loved ones at affordable premiums with the best term insurance plan for 40 years age, but also save on taxes as per the prevailing tax laws.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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