What Is The Best And Cheapest Life Insurance? 
The cheapest life insurance is usually annually renewable term , followed by 10 year term . Annually renewable term goes up in price every year , and 10 year term goes up in price every 10 years . Some companies carry 5 year term , but there are so few choices that 10 year term rates often beat the rates of 5 year term . Whether that type of short term policy is best for you depends on your need for the life insurance . E.g. . If you are purchasing it to pay for your funeral , you run the very real risk of being unable to afford the policy by the time you die . In that case , buying permanent insurance is usually a better choice , even if it starts out costing more . However , if you only need your policy for a few years , getting a short term policy is most likely your best and cheapest choice . 