July 3, 2014 8:52 am
it is recommeded to start saving as well as have insurance cover early in life. can one buy a term insurance more than one crore for his son above 18 years of age but is a student
none have answered if term policy is available or not. I am thinking in advance because it is possible that in next 7 years he will be married.
Another aspect (apart from what Ashish has mentioned) is the duration of the life insurance policy:
Current age: 18
For 20 years policy:
Policy expires when he turns 38
For 30 years policy:
Policy expires when he turns 48
So this assumes, that he does not have any liabilities when he turns 38 or 48…
Start saving early is important, but taking life insurance early is to be debated. If this goes, one should look at insuring the kid at birth itself.
Please understand why do we need insurance – to safegaurd are family / dependents. If there is no dependent then why and for whom would you need insurance?
Your email address will not be published. Required fields are marked *
Please subscribe me to your Email Newsletters
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Download Our FREE Ebook!
Available only for first 100 people today
New here? Create an account