When seeking the most cost-effective life insurance option for individuals over 60 years old, term life insurance emerges as the cheapest choice. Term life insurance provides coverage for a specific duration, typically ranging from 10 to 30 years. Let's explore why term life insurance is often the most affordable option for this age group: 1. Affordability: Term life insurance is generally less expensive than permanent life insurance, such as whole life or universal life insurance. The premi...