What is the best life insurance for a 54 year old female?
In my personal opinion, I would suggest a term life insurance policy. Unlike permanent life insurance, which has an investment component attached to it, term life insurance is pure life insurance. You pay a particular premium for a fixed period of time (term) ranging between five to thirty years and the entire amount is claimed back in the event of your death. As a result, term life insurance is the most affordable insurance option in the market today. The premiums are inexpensive and are generally fixed for the duration of the term. Of course, this would depend on what the reasons behind purchasing a policy are. If you need something to take care of your funeral expenses and look after your dependents after your death, a term policy works best. As a 54 year old, I would also have to add here that clearing your medicals with a clean chit of health would make a huge difference to your premium rate.
