Explain in terms of supply and demand of life insurance why the price rises as people get older even though the demand for life insurance goes down

Explain in terms of supply and demand of life insurance why the price rises as people get older even though the demand for life insurance goes down as they get older and children become self sufficient.

Life Insurance is a contract which is done between the policy holder and the insurer, wherethe insurer has promised to pay a designated beneficiary, a sum of money upon the death ofthe insured...