Living Your Life Young and Carefree? Then, you need insurance!

Your twenties are full of excitement and new beginnings. You will take up a new job, travel to different places and meet new people. You will also take far more risks whether it’s going skydiving, or blowing up your salary on the trendy new smartphone. When life is this exciting, learning financial discipline typically takes a backseat. However, when you discipline yourself early, your finances will be in good shape for years down the line.

Insurance is one of the crucial elements of a sound financial plan. The earlier you get it, the more benefits it gives you. Here’s how:  

1. Lighter on your pocket
   
   A lower insurance premium for a large cover is one of the benefits you get. Premiums are decided on the length of the term and your health risks. When you get insured early, it gives you a longer tenure at a low cost.  Your health is at its prime in your twenties. As a result, you pay a much smaller premium compared to what you would pay a few years later. You won’t have to make significant adjustments in your monthly budget, which means you can still enjoy your little pleasures. If you take insurance at a later age, you will end up paying higher premiums because of a shorter tenure and higher health risks. So, get insured early and safeguard yourself from exorbitant medical costs for the rest of your life. 
    
2. Insures your family against your debts
   
   Twenties are the time when you have big goals, like buying your dream house or dream car, or travelling to a foreign country for higher education. As you don’t have a lot of savings at this age, you may end up taking a loan. When you take a loan for higher amounts, banks ask you for a guarantor. The guarantor is responsible for paying the loan, after you. Buy life insurance and secure your family and your guarantor against financial liabilities. A term insurance plan will not only provide for your family’s day-to-day needs, but will also protect them from financial insecurities.
    
3. Avoid the risk of being uninsurable
   
   As you grow older, you are exposed to several health risks such as hypertension, diabetes, etc.  Our fast-paced lifestyle and irregular food habits have made us susceptible to more diseases, and have lowered the average age of getting critical illnesses. Health insurance companies charge higher premiums to people who have high health risks. For critical illnesses such as cancer and liver and kidney disorders, it is difficult to get insurance. To avoid higher premiums and the probability of getting rejected, apply for online health insurance while you are still in your twenties.
    
4. Protect Your Family Financially
   
   If you are planning on starting a family or have a young family, getting an insurance policy is a must. If you have debts, your family is liable to pay them in the event of your death. To secure your family against such unforeseen circumstances, get a term life insurance. Even if you aren’t married, your parents may need financial help after their retirement. So, if not for you, get a cover to safeguard your parents in their old age.
    

To conclude

Indulge in new experiences and live your dreams when you are young. With online health insurance, the process is much easier. So, while you gain new experiences, don’t forget to secure yourself against any financial hazards with insurance.

Visit PNB MetLife's website to know more about its various Term plans

Disclaimer: 
The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.
 

PNB MetLife India Insurance Company Limited 
Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka 
IRDAI Registration number 117 | CIN U66010KA2001PLC028883 
PNB MetLife Mera Term Plan is an Individual Non-Linked, Non-Participating, Pure risk premium Life Insurance Plan | Product UIN Number – 117N092V03 
#Maximum maturity age: 99 years for all options (except Joint Life cover option), Joint Life Cover option: 75 years (applicable for both Primary & Secondary life). 
For more details on risk factors, please read the sales brochure and the terms and conditions of the policy, carefully before concluding the sale. 
Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time. 
The marks "PNB" and "MetLife" are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks. 
Call us Toll-free at 1-800-425-6969, Phone: 080-66006969, Website: www.pnbmetlife.com, Email: indiaservice@pnbmetlife.co.in or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203. 
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