Buy Early, Pay Less



**Buy Early, Pay Less**

In today's fast-paced world, it is essential to plan for the future and secure the financial well-being of our loved ones. One way to do this is by investing in a life insurance policy. Life insurance provides a safety net for our families in the event of our untimely demise. However, the cost of life insurance premiums can vary depending on various factors, including age. This essay will compare and contrast the premiums of two life insurance policies offered by ICICI Pru - one at the age of 35 and the other at the age of 45 - to highlight the benefits of buying early and paying less.

The first policy we will consider is the iProtect Smart Life Cover Plan offered by ICICI Pru. At the age of 35, the premium for this policy is 1190 p.m. This policy provides multiple benefits, including a life cover and tax benefits up to 54,600 under sections 80C, 80D, and 10(10D). The premium for this term plan increases as you grow older, which means that if you were to buy this policy at the age of 45, the premium would be significantly higher at 1969 p.m. This highlights the importance of buying life insurance early in life to lock in lower premiums and maximize the benefits.

Buying life insurance early not only helps in securing lower premiums but also provides financial security to your loved ones at an early stage. By investing in a life insurance policy at the age of 35, you can ensure that your family is protected in the event of your unfortunate demise. Moreover, the tax benefits offered by ICICI Pru's iProtect Smart Life Cover Plan can help you save on taxes and further enhance your financial planning. On the other hand, if you were to delay buying life insurance until the age of 45, you would have to pay a significantly higher premium, which can put a strain on your finances.

In conclusion, buying life insurance early and paying less is a wise financial decision. The premiums for life insurance policies increase as you grow older, making it essential to invest in a policy at a younger age to secure lower premiums and maximize the benefits. ICICI Pru's iProtect Smart Life Cover Plan offers multiple benefits, including a life cover and tax benefits, making it an attractive option for individuals looking to secure their family's financial future. So, don't wait until it's too late - buy early and pay less for your life insurance policy.

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#madurai
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