What policy provides the most life insurance?

I need to buy life insurance but have a limited budget.

What type of a life insurance policy would offer the largest amount of life insurance for my money?

The cheapest life insurance available is term life insurance for two main reasons:

1. Term life is temporary life insurance lasting for a set period of time.

2. Term life is not an investment, it is pure life insurance protection, meaning it does not build up any cash value inside the policy over time.

There are different types of term life insurance, but annual renewable term life insurance is the cheapest for one year. However, each year the premium increases if you choose to renew the policy.

However, level term life insurance offers coverage with level premiums and coverage amounts for 10, 15, 20, 25 or 30 years.

So, if you need life insurance for 10 to 30 years, then level term life insurance offers the most affordable type of life insurance policy. 

Make sure you consider if you need the option of renewability before you buy.

Renewability allows you to renew your term life plan for another 10 year term when it expires. So, if you need life insurance for a longer period of time, you have the option to renew your policy when the term ends.

Here's how you can compare instant term life insurance rate quotes online from several highly-rated life insurance companies.