Term Life Insurance at different stages of life

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Having adequate insurance is most important, and protecting yourself and family from the unknown becomes critically important. If you have been ignoring or postponing the conversation around insurance, experts say this might be the right time to consider it.
Protecting yourself and your family is critically important, if you have been ignoring or postponing getting insurance, you may want to reconsider your decision.

Requirements change at different stages of life.

Stage 1-The beginning, Young, single executive.
Fewer obligations at this stage and individuals usually wonder what good would a term life insurance be to me now? But if you think about it, life is always uncertain, besides investing in a term life insurance would be ideal as the premiums would be much lesser.

At this stage look for flexible options that would allow you to increase coverage at future life stages.

Stage 2- Working professionals.
While moving up the entrepreneurial ladder, changing jobs and teams, always keep in mind to keep your insurance coverage up to date and coverage always in line with the increasing income.

An ideal age to start term life insurance as well, while the premiums will not be that high and you could contribute to your family’s financial responsibility

Stage 3- Married life
If you haven’t purchased life insurance yet, now is the time. You should always keep the future of your family secured, along with making long term wealth plans it is vital you have life insurance in place that covers all your needs.

Stage 4- Peak of your career
For most this is the time when you should have a contingency plan for unexpected requirements plus the family requirements. At this stage, you should always have health protection and term life protection as going forward the premiums will only get expensive.

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