The cheapest term life insurance plan for seniors would be a short-term term life policy offering coverage for the fewest number of years.
For instance, an annual renewable term life policy providing coverage for 1 year would cost less the first year than a 5 or 10 year term policy for a senior citizen.
However, if you need life insurance for a longer period of time, it would be best to choose the length of term that meets your life insurance needs, because if you renew an annual term policy each year, the premium would increase.
However, with a 10, 15 or 20 year term life policy your premiums remain the same each year for the entire duration of your term life insurance coverage.
In order to find the lowest priced senior term life insurance policy you would want to
compare multiplies senior term life insurance rates from the safest, most secure life insurance companies. That way, you could easily find out which insurers offer the most affordable term life policy.
