What is the Cheapest Life Insurance Policy?

If you're searching for the lowest priced life insurance policy, you'll want to look into term insurance.

Term life insurance offers the lowest pricing on life insurance plans available.

With term life you choose a "term" which is the duration for your life insurance protection to last.

The shorter the policy "term", the lower your cost.

Term life usually offers coverage lasting for a period of up to 30 years, but you may be able to choose term for 10, 15, 20, 25 or 30 years of coverage.

Permanent life insurance is the other type of policy, and costs up to 5 to 10 times more for the same amount of coverage as term life, because permanent provides lifetime protection and builds up some cash value inside your plan over the years.

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