The lowest priced life insurance is term life insurance, because it is temporary, and does not build cash value inside the policy over time.
Term life is "pure protection" because you get life insurance with no investment or cash value.
Whereas, with permanent life insurance which provides lifetime coverage at much higher rates, you may build cash value inside the policy over time.
The most affordable type of term life policy is level term life insurance where the premiums and coverage amount both remain level (the same) each year throughout the term of your policy.
The shorter the term of your plan, the lower your premium, for instance, a 10 year term life policy costs less each year than a 15 or 20 year term life plan.
In addition, the lower the amount of life insurance purchased, the lower your premiums.
And, the younger you are when you buy your life insurance, the lower your rate.
Here's how you can review more affordable term life insurance information to assist you with finding the most affordable life insurance policy to protect your loved ones.