What Life Insurance is Cheapest?

How do I find the cheapest life insurance policy?

The lowest priced life insurance policy is term life insurance because it is temporary coverage, compared to permanent life insurance which provides guaranteed lifetime protection, as long as you pay your premiums on time.

Usually, term life policies may be available for a period of 10, 15, 20 or 30 years. The shorter your term (duration of coverage), the lower your premium (cost) for coverage.

In addiiton, the lower the amount of life insurance you need, the lower your annual cost of insurance.

Also, since life insurance rates increase with age, someone who is young and healthy will qualify for a lower premium compared to someone who is older and has health problems.

So, that means if you need life insurance you should buy coverage while you are young and healthy to lock-in a lower premium and be guaranteed coverage in the future, when you need it most.

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