What is the Most Affordable Type of Life Insurance?

While the most affordable type of life insurance coverage will vary from individual to individual, for the most part term life insurance tends to be much less expensive than other popular types of life insurance policies.

Term life insurance is meant to provide a death benefit – and only a death benefit – and it is one of the least complicated types of life insurance policies out there.

Since there is no investment component, meaning no cash value that builds up inside the policy, the insurance premiums tend to be much lower than similar whole life insurance policies, and cost conscious insurance shoppers should definitely take a look at term life.

Compare Term Life Insurance Quotes

You may find that whole life insurance costs at least 2 to 3 times more than the same amount of term life insurance coverage.

However, keep in mind, term life is temporary, for a period of up to 30 years of coverage, while whole life provides lifetime coverage.

If you need the most life insurance, at the lowest price, for up to 30 years, then term life insurance provides the most affordable coverage.

Here's how to compare affordable term life insurance quotes online from leading insurers.