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Term insurance: Premium rates lower at younger age, don't change thereafter

As your liabilities increase, you will not have to augment your cover at a later date

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Even if you have just begun working and do not have any liabilities, buy a large cover

1 min read Last Updated : May 31 2020 | 8:33 PM IST

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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