Whether you buy permanent insurance or term life insurance, it will usually cost you less to purchase a life insurance policy when you are young.
If you're a high risk for a medical condition that might make it too expensive or impossible for you to get insured for life insurance later in life (for example, a family history of cancer), consider buying a life insurance policy while you're still young and healthy.
If you buy term life insurance, ask about the renewability provision.
Although your life insurance premiums may increase at renewal because your life expectancy is shorter, you'll be able to renew your term life insurance policy without having to prove your insurability again, which means, you won't have to take a medical examination to qualify for the renewal of your life insurance policy.
Keep in mind several factors affect the cost of your life insurance coverage, including your current health, whether or not you are a smoker, your lifestyle, occupation and hobbies, your driving record, and any pre-existing medical conditions.
Here's how you can find affordable life insurance policies.