 "Term insurance: Premium rates lower at younger age, don't change thereafter")
- Remember that you should buy the maximum possible cover you can afford at the earliest age
- Premium tends to be lower at a younger age and remains unchanged for the entire policy tenure
- Even if you have just begun working and do not have any liabilities, buy a large cover
- As your liabilities increase, you will not have to augment your cover at a later date
- If you find the premium rate burdensome, go for the monthly option.Go for an insurer with claim settlement ratio of 95 per cent or above
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