What is the most affordable type of life insurance?

The answer is Term Life Insurance.

Term Life Insurance is like renting a policy for a specific period of time. If death occurs during the specified period the full death benefit amount will be paid to the beneficaries. After the specified period ends, a term life insurance policy may be converted to a permanent policy or the policy can be continued at a higher premium, Most Term polices can be done without a medical exam. Most term polices can be issued for 10,15,20 or 30 years depending on age at the time of the application.

Who Should buy Term Insurance?

Term life insurance works best when there is a need for a large amount of life insurance. Some people will want to have a large policy while they have a young family and others will want a large amount for things like a mortgage or any other type of debt.