Life Insurance: Why Buying Early in Your 20s Saves You Thousands

• The best time to buy life insurance is often when it feels least necessary, typically in your 20s.
• Young and healthy individuals pay significantly lower premiums; a 21-year-old might pay ₹531/month for a ₹1 crore term plan, while a 41-year-old could pay ₹1,956/month for the same.
• Buying early locks in lower premiums for the entire policy term and ensures easier approval due to better health.
• Term insurance is the most cost-effective option for financial protection, offering high coverage at low premiums, separating investment from protection.
• Financial planners suggest coverage should be 10-15 times one's annual income to secure dependents' financial stability.