Bangalore: Buying term life insurance might seem overwhelming at times. People buy a life insurance policy for several reasons, when they are getting married, having kids or buying a home. A responsible financial plan includes life insurance if you have dependents relying on your income. A life insurance policy is essential because it protects your family's financial situation in the event of your death. Most of the people are in dilemma about the insurance policy to choose, and overlook on the need to have one. But failing to buy life insurance at all can be one of the most costly mistakes you can make for your family. Avoid these pitfalls when purchasing term life insurance to help make your investment in your family's future fast and easy. Waiting to Get Life Insurance It's a topic that nobody really wants to think about. The moment you feel the need it's the best to buy a life insurance. The longer you wait the higher the premium cost will be because the rates depend on age.