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    Why is it Beneficial to Buy Life Insurance in Your 20s?

    Last Updated On 16-09-2020

    Most of you in your 20s must have just commenced your career and looking to grow, handle your “adult” responsibilities and start becoming financially disciplined. Kids and marriage may not have even hit your mind, and therefore, a reason to buy life insurance seems unimportant. However, this is the decade most of you would start your own family and be responsible for others besides yourself. Thus, it is crucial to understand the importance of life insurance.

    Now, why do we need life insurance? The main answer is financial security for your loved ones and family in the event of an unfortunate eventuality. You want them to be secure in all aspects without having to go through financial stress during their grieving and difficult times. You would not want any burdens of debt or loans, that you may have availed, to be borne by them. This is why life insurance comes into play. Life insurance is that valuable and versatile tool that can help reduce your “what if” stress and also be a solution to your family in emergencies. Further, the sum assured when you buy life insurance need not be triggered only at the time of death, but also otherwise as a maturity benefit; you just need to know what and how to use it appropriately.

    Now, is it beneficial to buy life insurance in your 20s? The answer is YES! Now we’ll explain why we need life insurance in our 20s. Some of the important reasons are listed below:        

    Lower Premiums

    The first and foremost reason is lower premiums. When an insurance company assesses your file as an applicant, they need to check the risk associated with you. The younger you are, the lower the risk attached with you with respect to any ailments and health problems. This is why your premium rates are much lower and keep on increasing as you age. In general, youngsters are less prone to chronic ailments and enjoy good health. This is why older people are charged a high rate of premiums. 

    Longer Coverage

    The sooner you buy life insurance, the longer you can avail its benefits and coverage. As a thumb rule, if you buy life insurance at the age of 25 years, you can avail of its benefits for 50-55 years; whereas, if you buy it at the age of 40 years, you can enjoy the coverage for just 30-35 years. 

    Better Financial Discipline

    Most of you might not have considered this great benefit. It is no surprise that every form of investment aims to inculcate the good habit of savings and makes you more financially disciplined. You avoid unnecessary expenses and utilize your earnings in better avenues and instruments so as to maximize your returns. Those who usually start investing at a young age tend to have fewer money issues in the long run. 

    Tax Savings

    Another critical importance of life insurance is the tax-saving benefit you get under Section 80C of the Income Tax Act’1961. All forms of life insurance are eligible for this benefit, including but not limited to, your basic life insurance plan, Unit Linked Insurance Plans, term insurance, endowment plan, etc. Premiums payable under your life insurance are eligible for tax-deduction every year. 

    Additional Financial Support

    When you buy life insurance, you can also add on more coverage to your plan through the purchase of riders. These riders are specific in nature and provide financial support even during difficult times, such as loss of employment cover, critical illness rider, permanent or temporary disability cover, waiver of premium cover, etc. These riders provide you support for certain medical problems and other extreme eventualities which may affect your ability to pay premiums and manage your loved ones. Further, many of these additional coverages cease payments of premium payable by you in the future while the insurance coverage continues.

    So, to ensure you get the best of your life insurance, start investing and opt for the plan most suited to meet your requirements. For this, you may either buy the same directly from an insurance company or compare numerous plans offered by numerous providers on an aggregator’s website.  

    Visit PNB MetLife to know more about life insurance, Term Insurance & Term Plan


    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
    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:, Email: 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


    • IRDAI is not involved in activities like selling policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.


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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at or You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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