Term Insurance advice needed

Post Tycoon
Hi everyone

My birthday is in another 10 days.

What is the right way to opt for term insurance(plan until age of 85 years)?

Is it now or after my birthday?

Yes the insurance premium increasing by 1k annually

Thanks for advice.
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Post Mogul Post Mogul
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before birthday
Post Tycoon Post Tycoon
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How I'm going to benefit if i take this before birthday?

Tech Guru Tech Guru
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Dont take till 85

It kills the purpose of term insurance

Post Tycoon Post Tycoon
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What age is ideal in that case?

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Deal Newbie Deal Newbie
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75 age

Deal Lieutenant Deal Lieutenant
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85 is extreme. 70-75 is max you should go for. And pay till retirement  (60). There isnt usually much difference between pay till 60 and pay till policy term.

Helpful Helpful
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Get it before your birthday. Premium increases with age, and once you get the insurance your premium is locked, unless you add dependents or riders later on.

Get a cover till the age you think you'd be working, say plus 10 years in case you're really concerned. For most people that's usually 58/60 (retirement). Otherwise you'd be paying premium, while you've stopped earning, making it a liability instead of a benefit. If you are confident you'll be able to make the insurance payment, and would rather make sure your death is covered, feel free to get the additional years.

Don't opt for limited term pay, no matter how much the insurance agents try to convince you. Pay till 60 or policy term.

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