Cheap life insurance is a common theme in todays marketplace.   With rates at an all-time low it can be staggering how much life insurance one can acquire for a small amount of premium.    Rates have dipped to this low level based upon the advances in modern medicine, better lifestyles, and people living longer than ever before.    To get a cheap quote , all you have to do is fill out a short form and answer a few questions.  To get the insurance rating you would like, you must qualify based on their underwriting standards.  For underwriting, they look at your health, age, tobacco use, etc.  The better you score in those different areas, the better your rating and thus a lower cost per thousand.   You should be suspicious of a quote that is given without getting the important basic information from you.   For example, quoting you as a preferred rating and not asking if you have any medical issues.   While it may sound good to your ear that you will be preferred, it is better to get a realistic quote.

Cheap term is an interesting expression because what is cheap.  To me what is cheap, may not be cheap to you.  Also, is it really cheap if you pay for term for 20 years and at the end you have no insurance and your family never sees a benefit.  I understand why you would buy low cost term, but isn’t there a lost opportunity cost to your family if they never see the death benefit.  For a real quote you should speak to a paramount consultant.