Also, you may save money, particularly in the purchase of cash value policies, by buying a policy with low administrative fees. A small number of life insurance companies sell these "low load" policies by mail or telephone.
Term life offers the lowest price on life insurance that lasts for a period of 30 years or less. The shorter the "term" (duration) of your term life policy, the lower your annual cost of life insurance.
Term life offers life insurance for a term of 10, 15, 20 or 30 years, usually.
Other ways to lower your cost of coverage include: Quit smoking, lose weight, get healthy (exercise regularly), lower your cholesterol, improve your driving record, and pay your premiums for life insurance on an annual basis instead of monthly.