The lowest priced life insurance for anyone over 60 is term life insurance.
Permanent life insurance policies may cost up to 5 to 10 times more for the same amount of coverage compared to pricing for term life plans.
That's because term insurance is temporary - you select the duration (term) of coverage.
The shorter your policy term, the lower your annual premiums for your life insurance.
So, a 15-year term life policy would have lower premiums than a 20 year term life policy.
Learn more about finding cheaper life insurance for people over 60 years old.