The lowest priced life insurance plans for senior citizens would be term insurance.
Term insurance is temporary coverage lasting for a specific period of time, compared to permanent life insurance which lasts your entire lifetime but costs more.
Seniors may be able to choose a "term" (Duration) of coverage lasting for 5, 10, 15 or 20 years, depending on their age and health.
The shorter your life insurance policy term, the lower your cost of life insurance.
In addition, the younger and healthier you are when you buy life insurance, the lower your premiums for coverage.
Learn more about how to find cheap life insurance for senior citizens.