The younger you are, the cheaper the policy will be, no matter what type of life insurance you choose. Young people are less likely to die and are rarely diagnosed with incurable diseases. This factor plays a very important role when it comes to term insurance.
Since women, on average, live significantly longer than men, insurance companies have to pay less death benefits. This makes it less expensive for women to purchase an insurance policy.
Most life insurance companies require prospective clients to be medically examined. If you have serious health problems or any bad habits (for example, smoking), the cost of insurance will increase significantly.
If you are young and just starting a career, you may not be able to afford permanent life insurance. In this case, term life insurance would be the best and most affordable option. If you are older and have a stable job and savings, you can spend more on life insurance.
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