When it comes to determining your rate you will pay per $1,000 of life insurance as a senior, insurance carriers consider several factors, including your gender and age.
In addition, the type of life insurance impacts your rate - Term Life is temporary, providing life insurance up to 20 years for seniors, while permanent life insurance (which costs a lot more) provides lifetime protection.
In addition, your personal risk factors impact your rate for life insurance, including your health, lifestyle, tobacco use, driving record, height-to-weight ratio, occupation and hobbies, among other things.
These risk factors are used to help determine your longevity - how long you are expected to live. The longer your life expectancy, the lower your rate per $1,000 of life insurance.
So, the younger and healthier you are when you purchase your life insurance, the lower your cost of coverage.
Here's how you can learn more, and compare senior life insurance rates online from among 40 of the leading life insurance companies.