Safeguard the financial security of those who shall be dependent on you in the future by availing life insurance today…
We all know the benefit of investing early - a longer investment term combined with the practice of reinvesting your investment income speeds up the wealth creation process. This principle of investing early also holds true for buying insurance, traditional as well as unit linked…
How? Read on to know the answer…
Getting life insurance at a young age is beneficial in many ways such as:
Getting An Easy Approval: For young applicants of life insurance, the approval process is often simple and easy. This is because conventionally the young are often less prone to health risks compared to the old. In most cases, you may be granted life insurance without going through any medical checkups.
Lower Cost: Insurance premiums are calculated on the basis of the underlying risk. In case of life insurance, the risk covered is related to death or severe physical disability. With average life expectancy at more than 60 years, life insurance companies foresee an unlikely chance of the underlying risk materialising in the near time in case of the young. Hence, keeping all other aspects same, a younger applicant will have to pay a lower premium vis-à-vis an older applicant.
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