First of all, since term is temporary coverage, you'll need to choose a Policy term (duration) for how long your life insurance protection will last.
People age seventy may have the option of choosing term coverage for a period of 5, 10, or 15 years, depending on their health.
The shorter your policy duration (term), the lower your annual cost of life insurance coverage.
If you outlive the duration of your term life policy, your coverage ends.
Learn more about term life for 70 year olds.