Reasons To Buy Term Insurance Early

Reasons To Buy Term Insurance Early

#1. Lower Premiums

#1. Lower Premiums

When you are young, there are lower chances of health complications, leading companies to offer insurance at a lower cost.

When you are young, there are lower chances of health complications, leading companies to offer insurance at a lower cost.

Once the premium is fixed, it's for the lifetime, so it makes sense to do it as early as possible.

Once the premium is fixed, it's for the lifetime, so it makes sense to do it as early as possible.

#2. Lower Chances of Rejection

#2. Lower Chances of Rejection

At a young age, there are lower chances of having pre-existing diseases, which reduces the application rejection possibilities.

At a young age, there are lower chances of having pre-existing diseases, which reduces the application rejection possibilities.

#3. Tax Benefits

#3. Tax Benefits

You can claim tax benefits under section 80C of the Income Tax Act.

You can claim tax benefits under section 80C of the Income Tax Act.

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