There are two basic types of life insurance for seniors: Term and Permanent.
Permanent life insurance may cost up to 5 to 10 times more compared to term life insurance, because it provides lifetime protection and builds some cash value inside your life insurance policy.
Whereas, term insurance is temporary, lasting from 5 to 20 years for seniors. Term life is pure life insurance protection, there is no cash value, just a death benefit. You may choose term life for a duration of 5, 10, 15, or 20 years for senior citizens.
The quickest and easiest way to find the lowest cost deal on senior term life insurance is to compare senior term life insurance rates online from several of the leading insurers to find out which carrier offers you the best deal.