BANGALORE: Deciding whether you need life insurance can be a complicated process. The decision can be even harder when you are younger. When you are young you generally are in good health and the cost of insurance is very cheap. You will still need to justify the amount of coverage and the insurable interest between the insured and the beneficiaries of the life insurance policy.

Let us find out why it is necessary to go for insurance policy at a young age:

1. Lesser the age lower the premium

The premium that you pay on your insurance policy is mainly dependent upon two things those are your age and the tenure of the policy. The younger you are the lower is your insurance premium amount.

At an younger age, you would be physically sound and may not be suffering from illnesses. This would entitle you to a lower premium on the policy. Therefore it is advisable to buy insurance at an early age to reduce the cost of insurance.

2. Help in problems regarding health

Usually a person gets a life insurance policy in the middle of their life spans mostly when they are in their forties or fifties. At that time, they may have already fallen into the grip of bad habits like smoking, obesity, heavy drinking and diabetes, heart disease, cancer or HIV may have entered their health picture.

All these conditions can hike the premiums or make it harder to get a policy. An early insurance in life, before you have to encounter any of these problems, should allow you to pay less expensive premiums.