Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

Protect Your family’s financial future with Kotak e-Term. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more


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.

What Is the Correct Age to Buy Term Insurance?

When it comes to buying term insurance, your age and health are two of the most important factors. Let’s look here, at the different factors involved.

  • Jul 17, 2018

In recent times, a countless number of life insurance policies have been flooding the market. They all serve one purpose - to safeguard people and their dear ones against the uncertainties of life. Today, many of these policies are further customised to cater to the multifarious needs of people.

Amongst the broad spectrum of life insurance products, term insurance plans potentially serve as the most affordable and intelligible ones. These plans offer relatively lower premiums for a higher sum assured.

A term plan works on the basic premise of providing pure life cover to the nominees of the insured for a specific tenure. In case of the policyholder’s untimely demise within the policy’s tenure, the sum assured is instantly disbursed to the nominees. However, no payout or maturity benefits are rendered to the nominees if the policyholder outlives the policy’s tenure.

Even so, when you buy term insurance, it immediately instils a sense of security in you and your loved ones. In other words, you get a chance to secure the most important years of your life in the most economical and prudent manner. And your loved ones get to avail a large sum assured which can possibly suffice all their future needs. Not to mention, the premiums paid on these plans are exempted from tax deductions.

Popular notion suggests that it is best to invest in a term plan early, as it calls for numerous benefits. So, to better understand and decide the best age bracket to buy term insurance, let’s look at the different factors involved

The 20s

Typically, this is when an individual enters his/her professional realm and is likely to be debt-free. With fewer family responsibilities on hand, he/she is capable of purchasing a term plan and paying its inexpensive premiums. It is worth mentioning that the premium amount is usually lower for a younger individual because the associated life-risks are far lesser than an older individual’s.

The 30s

By this juncture in life, an individual is likely to have started a family. She/he may have numerous financial responsibilities and expenditures such as vehicle loan, home loan, etc. Given all these responsibilities, a term plan becomes a near-necessity to secure the future of any dependents. Thereby, the term insurance premium tends to increase when you plan to take it in your 30’s.

The 40s

During the 40’s, an individual may tend to undertake much bigger responsibilities such as his child’s higher education, his very own retirement preparation, and so on. Along with these expenses, increases the possibility of age-related illnesses. As such, the premium tends to escalate further.

The 50s

By the time an individual reaches his 50’s s/he may not be the sole breadwinner for his family but would still need financial stability. Along with taking care of the family, he may also be concerned about his retirement and health. Considering these aspects, the premium can spike all the more for this age bracket.

It is never too late to procure a term insurance. However, after carefully analyzing one’s responsibilities and expenditures with the help of a term insurance calculator, one can definitely opt for a suitable term plan early and secure a strong financial future.

Kotak e-Term

Download Brochure


  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

Similar Articles

Different Types of Protection Plans

Term Insurance with Critical Illness

What is Form 16, Form 16 part A, Form 16 part B, Information Required and FAQs

Side Effects of Covid-19 Booster Doses

Can I Make Changes to My Term Insurance Policy Post Purchase?

10 Most Frequently Asked Questions - FAQs on Term Insurance

All about Online Income Tax Calculator

भारत में जीवन बीमा कितने प्रकार के होते हैं?

Term Insurance vs Life Insurance: Understand the Difference and Benefits

Should You Have Multiple Term Life Insurance Policies?

Insuring Protection Against Death With Death Insurance Rider

What Should You opt for - Limited or Premium Pay?

9 Most Frequently Asked Questions on Term Insurance

Is Group Term Life Insurance Provided By Employer Sufficient?

Why Should You Add a Rider to a Term Insurance Plan?

Advantages & Disadvantages of Term Insurance in India

Is There Any Tax Benefit on Term Insurance?

Everything About Claim Settlement Ratio for Term Insurance

What Are the Best Term Insurance Plans for Planning Retirement?

Make Your Online Term Plan Your Family's Monthly Pay Cheque

Term Insurance Claims – Make Sure Your Claims Are Never Rejected

Why Premium Amount for Term Insurance is So Low?

Busting Myths and Facts About Term Insurance Policies

Should You Buy a Term Plan After 40?

Can I Extend the Tenure of My Term Insurance Plan?

Which Term Insurance to Choose: Lump Sum or Staggered Pay-out Plan?

11 Types of Death not covered in Term Insurance Plans

Should you have more than one nominee in your term insurance?

Why You Must Include In Your Financial Planning?

Tips to Choose the Right Term Period for Term Insurance Plan

Can I Get Term Insurance on Behalf of My Spouse?

Is Term Life Insurance Plan an Investment or Expense?

Individual Life Insurance vs. Group Term Life Insurance

Gift Your Father A Term Insurance Plan This Father's Day

What All Documents Required For Term Insurance In India?

Term Insurance: Smokers vs Non-Smokers

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

Types of Life Insurance Policies in India

While Buying Term Insurance Compare Features, Not Just Premiums

What Should Be The Duration Of Your Term Plan in India?

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio

Comparing Term Plans – What Should You Look Out For

Difference Between Term Insurance and Endowment Plan

6 Types of Death not covered in Term Insurance Plan

Increasing Term Insurance and Riders

5 Reasons to Buy Term Insurance When You are in Your 30s

Term Insurance Age Limit – Term Plan for All Age Groups

5 Term Insurance Benefits for Single Women

Term Plan with Spouse Cover

Can Term Insurance Plans Be Purchased As A Gift?

Different Types of Premiums in Term Insurance?

Benefits of Short-Term Life Insurance Policy

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

Ideal Features of a Suitable Term Plan - Act Now for a Stress-free Future

Importance of Term Insurance at Every Stage of Your Life

Can Senior Citizens Avail Term Insurance?

What is Critical Illness Policy?

How To Choose the Right Term Insurance Plan?

Term Life Insurance Plan for Smokers vs Non-Smokers

How to Compare Term Insurance Online

Is a Term Insurance Policy Portable?

8 Benefits of Term Insurance You Should Know

Eligibility Criteria for Buying Term Insurance in India

Tax Benefits of Term Insurance in India

10 Ways to Get Your Kids Involved in Your Healthy Lifestyle

Can a Housewife Buy a Term Insurance Plan - All You Need to Know

Can You Get Term Insurance Without Income Proof?

Term Insurance With Riders In India

4 Things To Expect From Your Term Insurance Plan in India

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

Term Insurance Basics You Should Know

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

Advantages of Buying Term Insurance in Your 50s

Do I Need to Give a Medical Test for Term Insurance in India?

How to Surrender Term Life Insurance When You Have No Liabilities?

Online vs Offline Term Insurance: Which Is The Better Option To Buy

Does Term Insurance Cover Accidental Death?

भारत में गृहणियों के लिए टर्म इंश्योरेंस

कोविड -19 बूस्टर खुराक के दुष्प्रभाव

Understanding Term Insurance Riders

What Happens if you Hide Facts in your Term Insurance?

6 Reasons That Make Term Insurance a Must Buy

3 Things to Consider When Buying Term Insurance, If You are Single

5 Benefits of Early Retirement Planning

Know How to Invest at Every Age for Larger Returns

टर्म इंश्योरेंस बनाम लाइफ इंश्योरेंस: अंतर और लाभ समझें

Why Should New Parents Buy Term Life Insurance?

What are the Documents Required for Term Insurance Plan?

Why Short-Term Insurance Plans Deserve a Second Look?

What is a short term insurance policy?

Choosing Riders for Insurance Plans

What is a term insurance plan with a return of premium, and how does it work?

Is Life Insurance Investment Worthy Enough

Do Beneficiaries Pay Taxes on Term Insurance?

What Are Insurance Riders and How to Choose Them in a Term Plan?

8 Things To Do After Buying Term Insurance

Joint vs Individual Term Insurance: Which One Should You Choose?

Why Term Plan Should Be The First Step To Securing Your Future?

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

8 Factors to consider before choosing a Critical Illness Insurance

Do You Need Term Insurance Cover After Retirement?

Difference Between Short-Term and Long-Term Insurance

How Much Cover Should I Take In A Term Plan?

Term Insurance Vs Car Insurance: A Budgetary Choice You'll Regret

Why Should You Buy Term Insurance in 2022?

Term Life Insurance Vs Money Back Life Insurance

Should you buy a Renewable Term Life Policy?

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Difference between Section 80C and 80CCC of the Income Tax Act, 1961

When is the Right Time to Buy Term Life Insurance Policy for Yourself?

10-Year Term Life Insurance Policy - Explained in Detail

Reasons You Need Term Insurance Plan as a Self-Employed Person

How Does Term Life Insurance Work? Learn the Benefits

Cost of Term Insurance Likely to Increase Soon

What Is a Renewable Term Insurance Policy?

Why should single women purchase term life insurance?

Is It Good To Buy A Term Insurance Plan In 2022?

Top 3 Reasons Why You Should Buy A Term Plan Now

How To Evaluate Your Term Insurance Quote?

Why Buy Term Insurance Even at Rising Rates?

All you need to Know about Term Insurance Plans for housewives

How Does Short-Term Life Insurance Work?

How To Calculate The Amount Of Term Life Insurance You Need?

Insuring Against Disability With Disability Insurance Rider

How do I Calculate My Term Insurance Premium

How Does BMI Affect Your Term Insurance Premium?

Is ₹1 Crore Term Insurance Good Enough Cover?

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

Why Married People Should Buy Term Insurance Under MWP Act?

4 Reasons Why You Need Critical Illness Cover

How Not To Get Your Term Insurance Claim Rejected

How to Buy ₹1 Crore Life Insurance Policy Without Medical Test?

Protection for your family

Ensure Protection Against Death, Disease & Disability With Life Insurance

10 Ways to Mentally Refresh After a Stressful Day

Make Your Online Term Plan Your Familys Monthly Payout

Why Spending Time with Friends is Essential for Your Mental Health?

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

What is Term Insurance? Term Plan Meaning and Definition

Term Insurance: What Happens When You Don’t Pay Your Premiums?

Should Youngsters, Working Couples Buy Term Insurance Plans?

Key Differences Between Term Insurance, ULIPs, And Health Insurance

5 Reasons to Have a Child Education Plan

Zero Cost Term Insurance Plan: What is & Should you buy it?

Term Insurance Calculator - Everything You Need To Know

Can I Buy Term Insurance for a COVID-19 Patient?

Why 1 Cr Term Plan Is Necessary For Family?

Which Death Type Does Your Term Plan Not Cover?

Why Should You Not Take A Term Plan Without Medical Test in India?

Does Your Term Insurance Plan Cover Death Due to COVID-19?

Why Surrendering Your Term Plan Policy In The Final Phase Maybe A Bad Idea?

जीवन बीमा पॉलिसी लेने की प्रक्रिया क्या है?

5 Things To Consider While Buying Term Insurance Plan

Insuring Against Accidents with an Accidental Death Insurance Rider

What is Insurance Premium? | Definition of Insurance Premium

टर्म इंश्योरेंस क्लेम प्रक्रिया

Calculating Term Insurance Premium

क्या ₹1 करोड़ का टर्म इंश्योरेंस पर्याप्त कवर है?

Why Buy Term Insurance Plan With a High Cover?

What Types of Deaths Are Covered in a Term Insurance Plan?

All About Term Insurance Inbuilt Coverage

Is term Insurance Needed for People With No Dependents?

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

What are incremental term insurance plans?

Why is it important to buy term insurance plan?

How To Choose the Right Sum Assured Under a Term Plan?

9 Ways to Help Family Members in Financial Trouble

Can You Increase Your Term Insurance Cover?

Planning For Son or Daughter's Wedding

Why Term Insurance Is Better Than ULIP?

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

Why does every working women need life insurance?

Insurance Policy for Housewife In India

Steps on How to Buy Term Insurance Online

How to Identify Term Insurance According to Your Needs?

Endowment Plans vs Term Plans: Understanding the difference

Buying A Term Insurance Plan? Take These Factors into Account

4 Methods to Calculate How Much Term Insurance You Need

How Much Term Life Insurance Cover Do I Need?

Difference Between Term Insurance and Endowment Plan

Term Plans are Definitely Cheaper than You Think!

How Much Term Life Insurance Cover Do I Need in India?

Do term insurance policy have a waiting period after buying?

How Does Term Life Insurance Work? Learn the Benefits

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

Insuring yourself against Ill Health with a Critical Illness Rider

Planning For Children's Future

Why Term Insurance Is Important in times of COVID-19?

How To Change The Nominee in Term Insurance?

9 Point Guide on how to File Income Tax Return Online

Term Insurance Plans and Policies for Smokers