INCOME TAX1 Oct 2026
Buying term insurance in your 20s vs 30s vs 40s: How age, health and family responsibilities affect your cover needs | Mint
Term insurance gets costlier as you age. For a ₹1 crore cover over 30 years, the premium is ₹8,064 at 25 but ₹21,792 at 40 — about 2.7 times. Health, lifestyle and occupation also matter, so two people of the same age may pay different rates. Buy early for lower premiums, but match your cover to your actual liabilities and dependants.
Key Statutory Highlights
- For a ₹1 crore cover with a 30-year policy term, the annual premium under Aditya Birla Sun Life Insurance's Salaried Term Plan is ₹8,064 at age 25, ₹14,784 at 35 and ₹21,792 at 40.
- At age 40, the premium is about 2.7 times that at age 25 for the same cover and policy term.
- Health, lifestyle, occupation, policy term and cover amount also affect the premium, so two people of the same age may not pay the same.
Actionable Advice for Taxpayers / Founders:List your current loans, dependants and income needs, then ask your insurer or adviser for premium quotes on the cover amount you actually require. Buying earlier usually locks a lower rate, but check the policy terms before deciding.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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