Is it less expensive to buy life insurance while I'm young?

Your insurance premiums will increase as your life expectancy decreases – the older you get, the more life insurance is going to cost you. Whether you buy permanent or term life insurance, it will usually cost you less while you're young.

If you're at high risk for a medical condition that might make it too expensive or impossible for you to get insurance later (e.g., a family history of cancer), consider buying life insurance while you're still young and healthy.

Please note that several factors affect the cost of life insurance, such as your current health, whether or not you are a smoker, and any pre-existing conditions.

Recommendation-:

Buy Term life Insurance-

Insurance is neither an investment, nor it is just to save your taxes. Insurance is to cover your family against any financial loss due to your death. We always recommend Term life Insurance {as per need base analysis*}, as it gives-

• Highest sum assured
• Lowest premium charged
• Can be stopped at the end of premium term, as the life cover exists only for the year for which premium is paid.
• Simple to understand.