The Long Read
Everything you *need to know* is right above this. Scroll down, only if you'd still like to read more (honestly, why?)
Yes, of course!
See if you are in your early or mid-20s now, you will not have many financial responsibilities. Your parents are probably still working. You are most likely to be single. You are focused on having a good time in life .
But a few years down the line, the situation may be very different. You may be married with a child on the way. You may have a home or student loan to pay off.
After some more years, you will find that it’s time to fund your child’s higher education or even wedding. And what about your spouse’s travel bucket list? That needs to be prioritised too.
As you reach various life milestones, you have more financial responsibilities. Of course, you have goal-oriented investment plans but you need to be alive to grow your wealth. What happens to your loved ones who are financially dependent on you, when you pass away unexpectedly?
This is where term insurance comes in handy. It is that financial safety net, that backup plan to your financial plan which comes in handy when something goes wrong. It helps your family with their regular expenses and also with big future expenses, even when you are no more.
Buying term insurance early helps you get term insurance with a much lower premium. The chances of your term plan application getting rejected are also much lower and you also get to stay covered for a longer duration of time.
Find out in detail why you should always buy term insurance early.
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