Why Is Life Insurance So Cheap? 
Term life insurance is cheap because it only pays out if death occurs during that period of time . The lower the age , the lower the actuarial risk of passing away , the lower the price . To get a policy that will be assured to be there to the end of life , the premium may be reasonable , but not necessarily `` cheap '' . Knowing it will be there for your loved ones at the time of need can definitely make it worth the cost . That is not to say there is not a need for cheap term life insurance . Thankfully , both Term and Permanent policies are available so that coverage is available and affordable for nearly anyone who wants it . 