Like most Insurance, the younger you are when you purchase it, the cheaper it is.

There are different types of life insurance.

Term Life Insurance is good for a certain amount of time, which is why it is called “term”. Once that term of the Term Life Insurance has expired, you have no coverage. It is the most inexpensive type of life insurance simply because it is good only for that term of the Term Life Insurance.

The term (period) could be 10 years, 20 years, or even 30 years (depending on your current age).
Typically, your premiums stay level throughout the term of the Term Life Insurance.

 

Who Needs It?

http://www.lifehappens.org/insurance-overview/life-insurance/who-needs-life-insurance/

 How Much Do You Need?

http://www.lifehappens.org/insurance-overview/life-insurance/calculate-your-needs/