BANGALORE: Taking insurance policies can help you in many ways. There are different kinds of insurance that can be taken, for instance, life insurance policy, automobile insurance, and more. When you take insurance you pay a small amount of money from your salary every quarter or every month per year, this money is saved by the insurance company and given back to you as a lump sum amount after a certain period. Taking the right insurance policies is key to a healthy financial life. Thus try to take right insurance policies at each age.

Let’s see what type of insurance policies to take at each age:

1. Term life insurance policy at 20s

Term life insurance is considered to be one of the most common choices, and this is typically the best option for someone in their 20s. It will cover you for the term of the policy and the maximum term for a life insurance policy is usually 30 years. You’ll maximize the cost savings by locking in your low premium for as long as possible.

If you buy your policy between the ages of 20 and 39, each rupee you spend on term life insurance has a value 7 to 10 times greater than what you would get with a whole life policy. However, this policy will give you peace of mind and protection from your investment in the meantime.

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