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When is the best time to buy a term insurance?

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12 Jul, 2022 by  Piyush Agarwal

When is the best time to buy a term insurance?

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Term Life Insurance

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12 Jul, 2022
MBA | 5 years experience
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Dear Piyush,


The best time to buy insurance is when you know you have liabilities to take care off or you have dependents who are dependent on your income. For e.g. if your parents in their retirement years will be dependent on your income or your spouse if her future needs will be dependent you income.

One has to understand that for a corpus to be created it takes time not few weeks or months but a decade or two. A Term plan in the meanwhile will offer protection if incase unfortunate event happens.


Try using Beshak's TruMatch Tool to understand if you need a term plan if you need one what should be the sum insured.


I hope you question is answered.


Regards

Rohit Dhingra

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