Before you go with term, check the get-out clause:
While a term life insurance policy offers tantalizingly cheaper monthly premiums for the 10 to 30 years of coverage, the premiums rise significantly at each renewal.
Next time around, you may want a permanent policy so you can accumulate cash value on a tax-deferred basis or just for the hassle-free life coverage at a guaranteed premium amount. Beyond a certain age, that may not be possible.
If you choose a term policy, make sure you know what the maximum age of conversion is to a permanent plan.
Free quote: http://www.mintcofinancial.com/senior-life-insurance-quote
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