The earlier you start, the better wealth you will build for yourself. As soon as you start earning money you should think about your liabilities such as paying for taxes and debts or loan you might have.
1. Lower amount of premium: One of the advantages of buying a policy at an early age is the benefit of lower premium with younger age. The sooner you buy the lower amount of premium you have to pay.
2. Savings is caring: Paying taxes can lower your saving, but you can invest that money in a life insurance plan and save your money and get a complete life cover for your loved ones.
3. Wealth is Health: When you buy an life insurance you start creating your wealth. Since, future is unseen, maintaining a good health will require good wealth with increasing prices in the market.
4. Small drops at a time: Unlike any other investment options available in the market which requires big amounts at once, buying life insurance is the cheapest. You can buy bigger policies with such a small amount with higher returns. Life insurance can be bought with monthly premium of Rs.1000/- per month.
5. Longer the better: As you buy insurance at an early age, you are giving time to let the money grow. A person who buys a policy at the age of 25 with the purpose of retirement at the age of 55 will get a higher amount at maturity after 30 years of policy term than a person who buys at the age of 35.
6. Better lifestyle: Life insurance does not mean you will get the benefit at the final stage(on maturity). Investing in life insurance can lead to better lifestyle as it can provide a regular income with you earnings with complete life cover. Such policies are know as Money Back Plan.