Is 25 the Right Age to Buy Term Insurance? Seeking Advice!

ankursh12

Hi everyone,

I’m 25 years old and recently started thinking about buying a term insurance plan. I’ve heard it’s a good idea to secure coverage early when premiums are lower, but I’m unsure if now is the right time for me.

I’m looking for a term plan that offers comprehensive coverage, preferably with critical illness benefits and a flexible policy term. Since I’m just starting out, affordability is a factor too. Could anyone suggest some good term insurance plans suitable for someone in my age group?

Also, I’m exploring where to buy the policy. I’ve come across Policybazaar, which seems to offer a good range of options with the benefit of comparing multiple plans side by side and securing better premium rates. Has anyone here purchased through Policybazaar or other platforms? Would love to hear about your experiences.

Looking forward to your valuable suggestions and insights!
Thank you!

DullGreyGuy

It depends where you are in life, your plans and realism of your plans. 

Putting aside the CI because I dont like the product, Life is there to ensure those that are financially dependent on you arent going to suffer hardship by your passing. So are you in a long term relationship? Do you have kids? Are you trying for kids? do you own or rent your home? When do you plan to retire?

Assuming you arent there yet will you be buying a home for £150,000 or £750,000? Will you have 1 or 15 kids?

These sorts of things will determine the sort of level of insurance that will be appropriate. I know my 25 year old self wouldn't have had a clue where life was going to take me but others may. I bought my life insurance at 32 when life had taken a very different path than I had expected.

kimwp

My view is to only buy it if you have dependents.