Life insurance rates are based on your expected longevity, how long you are expected to live.
The older you are when you buy life insurance, the higher the rate, based on your longevity.
In addition,other factors will affect your rate for life insurance, including your gender, health, family health history, occupation, hobbies, driving record, height-to-weight ratio, lifestyle, and whether or not you smoke, etc.
The lowest priced life insurance plans for seniors may be term life insurance which offers coverage for a set number of years, compared to permanent life insurance which provides lifetime coverage.
Here's how you can learn about low cost senior life insurance and how to compare senior life insurance rates and plans online among leading life insurance companies.