Benefits of Buying Life Insurance Early

Views:
 
Category: Entertainment
     
 

Presentation Description

Buying a life insurance policy at an early stage of life adds a lot of benefit to your financial planning and life. With low premium and longer security it it shapes your future in a balanced and effective manner. It is important to compare the life insurance policies before making a final decision.Online life insurance policy is easy to buy and is also cost effective.

Comments

Presentation Transcript

Slide1:

Benefits of Buying Life Insurance Early

Slide2:

Life Insurance has always been an odd topic of discussion for young people. They always relate life insurance to retirement, marriage and turning into a parent and that’s why they avoid or delay it. People in their twenties think that they are too young to buy a life insurance, which is one of the biggest myths related to life insurance policies. Life Insurance policy is not only for those people who have a retirement plan in mind or have dependents, such as children or wife, but is a cover against risk which also provides financial stability in many ways which is a requirement of everyone, regardless of their age. Buying Life insurance policy at a young age gives you a lot of benefits, some of which are mentioned below: -

Low Premium:

Low Premium The rates of premiums are decided upon the risk. Higher the factors of risk, higher will be the rate of premium. At a young age, the risk is less and so are the chances of a claim, that’s why companies offer a lower rate of premium for young people. People are mostly healthy at a young age, but with growing age, health conditions fall and diseases arise. If you will keep waiting for the right age to get life insurance and before buying it you get a chronic disease, then you will end up paying very high rates of premium in comparison to what you could have paid at a young age when you were healthy.

Systematic Savings Habit:

Systematic Savings Habit Saving is an important part of life and the basic thumb rule of saving is “Start early and save more”. If you start saving at a young age, you will have a better financial stability for your present and future. Life insurance acts as a form of saving which allows you to save in the most systematic, regular and secured way. If you buy life insurance at an early stage of your life, you will have more time to accumulate cash by earning more interest, bonus and other benefits due to longer policy term. The form of saving which life insurance provides keeps the time value of money on your side.

No Medical Check-Up:

No Medical C heck-Up Generally , if you buy a life insurance at a young age, it doesn’t require a medical check –up as the chances of diseases are less when you are young while if you go for a life insurance at a late stage of life, you will have to go through several medical checkups.

Less Chances of Rejection:

Less Chances of Rejection If you apply for a life insurance at a young age, then your chances of rejections are less as the major reason for rejection of insurance is the health condition of the potential buyer. An insurance company will never give cover for a person with a severe medical condition because the chances of claim at a very early stage of policy are very high which will be a loss for the company.

Longer Policy Term:

Longer Policy Term Another benefit of buying a life insurance plan early is to get a longer policy term for risk coverage. The maximum maturity age of life insurance plans ranges between 60 to 75 years . A person who takes life insurance at an early stage can choose to be covered for a longer policy term before he/she attains a maximum maturity age.A person at the age of 25 years can be covered for more than 30 years of his life under his life insurance policy.

Adding Riders are Easy :

Adding Riders are Easy Adding riders to your life insurance policy can do wonders for you and it can be easily done as young insurer. For example, you can add a critical illness ride to your life insurance is easy when you are young because you have less chances of suffering with the diseases mentioned in critical illness which generally occurs with aging. If you are suffering with a particular disease mentioned in the critical illness rider then you premium rates also increases for adding the rider.

Slide9:

Buying a life insurance policy at an early stage of life adds a lot of benefit to your financial planning and life. With low premium and longer security it it shapes your future in a balanced and effective manner. It is important to compare the life insurance policies before making a final decision . Online life insurance policy is easy to buy and is also cost effective.

About Us:

About Us Compare best insurance policies online in India. Get quick and best insurance quotes. We Compare insurance policies provided by various insurers. Buy or Renew Insurance policy at Lowest Premium from SuggestInsurance . Website:- http://www.suggestinsurance.com Contact Number:- 0120-4321335 Address:- D 2, Sector 3, Noida – 201301, Uttar Pardesh, India

authorStream Live Help