Your age and health are two key factors that insurers consider when determining the rate you’ll pay for life insurance. The younger and healthier you are, the less you will have to pay for your protection. So, if you want to get affordable life insurance, buy sooner rather than later. Here are some benefits of buying insurance when you’re young;
- Get lower rates – Buying life insurance when you are young and healthy guarantees lower premiums and reduces the total amount you’ll spend on life insurance over the course of your lifetime.
- Protect your loved ones – If you are starting a new family, or support your parents, or dependents, life insurance ensures they stay protected. In the event of an untimely demise, life insurance supports your nominees with a lumpsum to ensure their lifestyle is not disrupted due to loss of income.
- Create an asset – When you buy a policy, you generate an asset from the very first premium. No other financial instrument offers this benefit.
- For future needs – You might not have any dependents right now, but that could change in a few years. Investing now ensures that your family will be protected they rely on your income.
- Retirement benefits – When you retire, life insurance will be a useful retirement savings tool to help minimize the stress on post retirement expenses.
Life insurance is designed to meet the needs of a wholesome life and it offers a range of solutions covering Protection, Education, Health, Investment, and Retirement.
Are you protected?