Why One Must Buy Term Insurance before 25 Years

Buy a life insurance plan in a few clicks

Now you can buy life insurance plans completely online right here.

  • Icon for Kotak Preferred e-Term Plan

    Kotak e-Term Plan

    Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.

  • Kotak E-Invest Plan

    Kotak e-Invest is a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and needs - be it protection; investment; financial security for child or retirement planning.

  • Icon for Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and insurance cover against any eventuality.

  • Icon for Kotak Preferred e-Term Plan

    Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!

  • Icon for Kotak Preferred e-Term Plan

    Kotak Health Shield

    The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.


Why One Must Buy Term Insurance before 25 Years

Buy Life Insurance Now
  • 11th Oct 2019
  • 1,949

Why One Must Buy Term Insurance before 25 Years

When you are in your early 20s, insurance is probably the last thing that bothers you. This is quite understandable as right now you are young and do not have too many responsibilities. The purpose of this article is to remind you that you will have many duties towards your family down the line. You should not be scared or worried about these now. However, it is also important to start preparing for the future at the earliest.

A term insurance plan is one of the policies that you need right away. This is a great investment to help you cope with the uncertainties of life. There are various great benefits of buying a term plan early. Some of these are explained below.

Term Insurance Benefits:

  • You get it for an affordable price
  • One of the things that determine the price of the term plan is your current health condition. When you are under 25 years, you are in the pink of your health. Although you never know when you can be diagnosed with a critical illness, the chances are that it is far away from you. For this reason, insurance companies offer more affordable premiums to younger people.

    If you are in your early 20s and do not smoke, you can get a cover of approximately INR 1 crore for a monthly premium of around INR 500. The same coverage will cost you double in your 30s. Hence, it is always the smartest idea to buy online term plan early.

    Buy Term Insurance Online

  • It is flexible
  • Buying the term insurance plan early offers a lot of flexibility. It is understandable if you are a little confused about your finances right now. It takes some time to figure out what to do with your money. With a term plan, you will have the flexibility to stop the payments and terminate the policy as per your convenience. Some insurance companies allow the policyholders to renew the plan later. These flexibilities surely make your job easier.

  • It helps your family to deal with your loans
  • The main purpose of a term plan is to provide financial security to the policyholder’s family if he or she passes away before the end of the insurance tenure. A person under 25-years might not have too many financial liabilities, but they might still have loans to pay. Imagine someone buys a new bike and has to repay the loans for the next five years. Now, in case of an unfortunate death, their family has to repay the remaining loan amount. This can be an added burden, along with the pain of losing a loved one. However, if he or she had a term plan then the death benefit could be used by the family to repay the loan easily.

  • Premiums are locked
  • The premium of a term plan is locked. This means, once you buy the policy, you will have to pay the same amount of premium until the end of the term. As you get a cheaper premium when you are young, buying the term plan before turning 25 will ensure that you pay a low premium even when you are older.

    Now that you understand why you need to buy the policy early, look for an online term insurance that meets your requirements and apply for it without wasting any time

- A Consumer Education Initiative series by Kotak Life

Also read

    • 23rd Nov 2021
    • 357

    Life Insurance vs Mutual Funds

    Life Insurance secures your family’s future financial stability in your absence. Mutual Funds is an investment tool that enhances your wealth throug...

    Read more
  • Life Insurance for Overweight Applicants

    3 roles that define the importance of life insurance in your life

    Read more
    • 16th Nov 2021
    • 260

    Who Is A Nominee In A Life Insurance Plan?

    A nominee is a person who is eligible to collect the death benefit from the insurance firm after the policyholder’s death. Here's some points to hel...

    Read more

Related Plans

  • Kotak Premier Life Plan

    Kotak Premier Life Plan

    Kotak Premier Life Plan is a limited premium paying participating whole life plan, where you can choose to receive bonus payouts even after premium pa...

    Know more