Accidental death insurance
Regardless of your age, accidental death and dismemberment insurance is by far the cheapest option. There is one caveat, though. This type of insurance only pays if your death is due to an accident. That being said, it is a great alternative if you want some sort of life insurance coverage at the lowest price possible.
Learn more about accidental death insurance.
Term life insurance
This is one of the most affordable plans out there. By having the ability to choose the length and coverage amount, you can get a great policy that fits your budget and needs at the time. This offers flexibility and the ability to save money over time.
Learn more about term life insurance.
Final expense insurance
Once you reach age 55, term life insurance becomes harder to qualify for. Final expense insurance is a great alternative. While final expense coverage costs more than term life insurance, the application process is much easier. Since the product focuses mainly on seniors, you won’t be qualified the same way a younger individual would. Instead, having mild health conditions is to be expected.
Learn more about final expense insurance.