Term Insurance for Young Adults

Young adults often overlook term insurance, thinking it’s only for later in life. Buying term insurance early means lower premiums, better coverage, and long-term financial protection. Even if you don’t have dependents yet, a term plan makes sure that your future goals and your loved ones are always protected. Term insurance for young adults offers financial protection to the dependents, higher cover amount, lower premiums due to better health, and long term protection. Let us take a look at why term insurance for young adults is important, why you should buy, and more.

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What is the Importance of Term Insurance for Young Adults?

Term insurance for youngsters is important for young adults because of the following reasons:

Increasing Health Problems
Nowadays, health conditions are not exclusive to older individuals, even young adults and children can face serious illnesses. That is why it is important to plan ahead and protect your family financially. A term insurance for young adults gives your loved ones a large sum of money if something happens to you. You can also add a critical illness cover, which helps you get financial support if you're diagnosed with a major illness.
Outstanding Debts/Loans
Many of us take loans to buy a house, a car, or fulfil our dreams. But if you become seriously ill, face a disability, or lose your ability to earn, repaying those loans can be difficult. In such cases, term insurance for young adults acts like a safety net. It can help pay off your debts and also support your family financially during tough times.
Financial Security for Family
In case of an unforeseen event, a term insurance for young adults ensures the financial safety of your dependents in your absence. The term insurance is the best type of life insurance for young adults, as the sum assured can be used for various expenses like the education of children, and your partner’s daily requirements. This payout can help them take care of their financial needs in your absence.

Note: Know what is term insurance first and then buy a term plan for your loved ones.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

Why You Should Buy Term Insurance for Young Adults?

Here are a few reasons why you should buy term insurance at an early age for young adults:

Lower Premiums
When you are young and healthy, life insurance companies charge lower term insurance premiums. This means you can get a high coverage amount at a much lower cost than if you buy it later in life.
Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying.
Larger Cover Options
Younger applicants can opt for larger cover options compared to the different types of life insurance for young adults available in India. You can easily secure a cover of 1 Crore at just ₹400/month.
Financial Security from the Start
Starting early means your family is protected from day one. Even if you don’t have many responsibilities now, the term insurance for young adults will be there when you do.
Note: Check all the best term insurance plan in India.
Reduced Rejection Risk
Buying a term insurance early on in life decreases the chances of your application being rejected. This is because the insurer might reject policy applications for customers who are much higher in age and may have an increased risk to life.
Builds Good Financial Habits
Buying the best term insurance for young adults early encourages financial planning and helps you think about the long-term needs of your loved ones.
Covers Long-Term Liabilities
If you plan to take loans in the future, like a home loan, having term insurance for home loan or other liabilities in place ensures that your family won’t be burdened with those payments if something happens to you.
Flexibility and Customisations
You get the flexibility of customising the term life insurance for young adults to fit your individual needs by opting for the different plan types, rider options, and life stages.
Rider Benefits
You can add the available term insurance riders to the base plan at nominal premiums payable with the base premiums of the plan. The riders you can add are terminal illness, critical illness, accidental death, accidental total permanent disability, waiver of premium, and hospicare benefits.
Peace of Mind
Knowing your family is financially protected in your absence gives you the peace of mind, allowing you to focus on your career and goals and lead a stress-free life.
Tax Benefits
You also enjoy term insurance tax benefits on the premiums you pay under Section 80C and on the benefits received by the family under Section 10(10D) of the Income Tax Act, 1961.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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Final Thoughts

Term insurance for young adults is important as it makes sure that you can get a large life cover at affordable premiums. With increasing uncertainties in life, having a term plan in place makes sure that your loved ones are not left unprotected if something unexpected happens. The earlier you start, the more you save, and the longer your coverage lasts.

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What is Term Life Insurance

FAQs

At what age is term insurance best?

Term insurance is best for young adults as the premiums are much lower, you can secure a larger cover, and get protection for a long policy term.
Which life insurance is best for young adults?

The best life insurance for young adults is term plans are they are much more affordable compared to other types of life insurance plans, provides a larger life cover, and can be customised to fit different individuals.
Shall I take a Term life insurance plan as a 22 year old male?

Yes, as a 22-year-old male, buying a term insurance for adults in India is highly recommended because it's significantly cheaper, offers longer coverage, and secures your future financial dependents (like parents or future family) against potential debt or hardship if something happens to you, making it a smart financial move to start early.
Would you recommend to young people, especially those turning 30, to buy life insurance?

Yes, buying life insurance in your late 20s and early 30s is highly recommended, especially term life, because premiums are significantly lower and stable while you're young and healthy, allowing you to secure substantial coverage for family financial security against increasing responsibilities like mortgages, children, and debt, locking in affordability for decades.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹360/month is the starting price for a ₹99 lakhs loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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