What Is The Longest-term Life Insurance Policy?

When a person comes to open a policy a commonly asked question is, what is the longest-term life insurance policy? The longest-term life insurance policy is a 40-year term life policy. A 40-year term life policy is a policy that provides 40-year insurance coverage and a tax-free death benefit to the beneficiaries as well.

This kind of policy suits a person looking for distant future protection. Generally, a term life insurance policy can range from 10 -40 years, and the choice depends on the policyholder’s age, financial condition, job nature, salary, and so on.

In addition, your personal habits also play a major role in getting a 40-year term length. For instance: a smoker with the age of 40 or younger can get this policy. On the other hand, a person who doesn’t smoke or other health-degrading substances like wine can have this policy at the age of 45 or younger. Another important thing is that having any serious chronic diseases like diabetes, asthma, hypertension or heart disorders can nullify the policy. In some cases, if the policyholder gets it he has to pay a large premium.

Along with the health status, the job nature of the applicant also plays a pivotal role. Persons with high-risk jobs like– fishing and hunting workers, logging workers, roofers, construction workers, aircraft pilots, and flight engineers, refuse waste, and recyclable material collectors may not get the policy. Again, if the policyholder commits suicide will not get the death benefit.

Who Is Suitable For A 40-Year Term Life Policy?

Those who get a new job or those with a low income can have a term life policy. Moreover, if you are a newly married couple, a 40-year term life policy is suitable to give robust and consistent protection to your family and your children’s future. In addition to that you may have a mortgage or loan to pay, so you need this policy to free up your family from liability.

Who offers a 40-year term life policy?

Not all insurance company provides a 40-year term life policy. Protective Life Insurance and Legal & General (Banner Life) are the insurers that offer 40-year term policies.

Protective Life Insurance (a primary subsidiary of Protective Life Corporation a financial service holding company in Birmingham, Alabama):  

here the policyholder gets level premiums. The lowest face value is $100,000 and can be as high as $50,000,000. Individuals between the ages of 18 to 40 years can have a 40-year term policy.  People more than 40 years of age require special consideration under the regulations of the insurers for getting the policy.

Legal & General (Banner Life) (British multinational financial services and asset management) company:

here people can get death benefits up to the age of 95 and level premium as well. The lowest face value of the policy is $100,000.  The policyholder at the age of 20-45 (non-smokers) can have this policy.

Both of them provide an e-application facility to expedite the process of a 40-year term life policy.

An Overview Of Premiums Every Month With A $500,000 Death Benefit. (40-year Term Policy):

Sex and Age Legal & General (Sold Under Banner Life/William Penn) Protective Life
Female age 30 $40 $40
Female age 35 $55 $55
Female age 40 $95 $90
Female age 45 $145 $145
Male age 30 $55 $55
Male age 35 $65 $70
Male age 40 $115 $115
Male age 45 $190 $190

Source: https://www.insurist.com/life-insurance/what-is-40-year-term-life-insurance/ 

How The Longest-term Life Insurance Policy Works?

When you purchase a 40-year term insurance policy from s suitable insurers you are obliged to pay a fixed premium until the end of the term life. If the policyholder dies within this period, the beneficiaries will get the tax-free death benefit.  But if the policyholder subsists no death benefit will be given.  Upon expiration of your policy, you can receive another new policy, or you can renew the existing policy.

Advantages Of The Longest-term Life Insurance Policy Over Other Policies:

  • In this policy, special attention is paid to the beneficiaries who are special care children or physically handicapped.
  • It provides long-term protection and keeps the policyholder relaxed.
  • It makes the habit of saving money at the early stage of your job which will keep you one step ahead then others.
  • If the policyholder feels that he/she doesn’t need the policy over the duration of years the 40-year term policy can easily be changed to another policy.

Drawbacks Of Having A 40-year Term Life Policy:

  • Higher cost
  • Not provided by all insurers.
  • Not offered to everyone especially physically unfit people may not have this insurance policy.
  • The money invested in the insurance can not be used in the market to buy shares.

Average Monthly Life Insurance Cost For A Healthy 30-year-old Male:

Average Monthly Life Insurance Cost for a Healthy 30-Year-Old Male
·         20-Year Term Policy

·         Monthly Cost

·         $25


·         40-Year Term Policy

·         Monthly Cost

·         $53


Premiums for full coverage policies are on average: $28 more


This is 112% more expensive

Source: https://www.moneygeek.com/insurance/life/which-companies-offer-40-year-term/


Is it Compulsory To Do A Medical Exam To Get A 40-year Term Life Insurance Policy?

Everyone seeking a 40-year term life insurance policy requires a medical exam. However, accelerated underwriting programs don’t require any medical exam. It’s only applicable to some of the most eligible policyholders and is not offered by all insurance companies. People with sound health status and not having illicit drugs or smoking are eligible for accelerated underwriting programs.

Can I Terminate The Policy Before The Expiry Date?

Yes, of course. You can terminate the policy at any time. However, every insurer may have a different policy regarding early termination. The policyholder must follow the instructions since it may or may not affect the cash value of the policy.


A 40-year term life insurance plan is worthy for the protection of your family in your absence. It gives the policyholder mental tranquility because the policyholder can make a proper plan for a longer period due to its long lifespan. Since the debut of the 40-year term policy, it has gained more and more popularity. Apart from the safeguarding of the family and children, the money can also be used to meet the expenditure of the funeral and medical expenses of the policyholder. So a 40-year term life insurance policy can be the best choice for you and the policyholder must explore it.

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