Life insurance is often considered beneficial for a wide array of people. Whether you're young and single or married with children who depend on you, a life insurance policy in the correct amount can be valuable without breaking the bank.

But while life insurance is considered a fundamental element of sound financial planning, there is one demographic that's often left out of the discussion: seniors.

For older adults, life insurance is frequently considered not worth it. Costs are generally higher and the commensurate coverage that can be secured is not nearly as much as younger people can obtain for a fraction of the price.

But the benefits of life insurance for seniors are substantial, particularly if a policy can be secured for a reasonable cost. One way of balancing price and coverage is to purchase the right type of policy.

If you're in the market for life insurance then start by getting a free online price quote now so you know exactly what to expect.