That kind of induction sounds awful. Without any warning signs of complications, I see no reason for you to be induced. He is suggesting it for his convenience, not for your health or safety of the baby. I know how hard it is to go over 40 weeks, three of mine were late, and one of those was 3 weeks late. When babies are late, there is usually a reason. My 3 weeker was only 7 lbs 7 oz., had he been born on time he would have weighed just over 4 lbs (I know he was late, we didn't get the date wrong, there was no way I could have gotten pregnant after a certain date, so the due date was spot on). Going over 40 weeks does NOT mean the baby is in danger, and I'm with Victoria, I bet you start labor today or tonight.
The waiting is hell, I get that. But many inductions have significant risk asociated with them, if you can avoid it you should. Good luck, be patient. Much love to you.