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 ea...
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