Many older people are not able to pay for their mortgages, TO avoid this kind of situation you need to go in for a life insurance policy. It also supports the family at the time of recession, by paying the kids fees, living expense etc... Life insurance over 50 years of age helps for people who have not saved enough money for the future. The funeral expenses are covered by the life insurance policy, Hence there is no burden for the children.Policies help company registration for business people too. It provides advantages on tax so that you can provide your wealth benefits to the next generation.It is available at affordable rates.You can search for the best policy online or can seek a finance professional's advice on which type of policy to opt for.Its an easy task too...You will be been given a form in which your age, gender, term and amount of coverage must be filled and submitted to the insurance company.Once every thing is done, they compare it with different rates of policies which suits your criteria and adopt it. In term life insurance women gets lower rates and have to pay lower monthly premium than men.A renewable tax accounting services option is given to continue the policy.There are some policies for people with severe health conditions, it does not provide large amount of coverage.Even at the age of 70 a healthy person can get a term life insurance policy. There are many advantages of having a term life insurance rather than taking a permanent life insurance policy.