Life Insurance for Students
- Are you a college student?
- Why do you need life insurance?
- Best plans for a college student
As a young college student, buying a life insurance policy could be the last thing on your mind. But amidst your study schedule, thinking about how to insure yourself from any uncertain circumstance is necessary. It is conceived as something that most of us do but times have changed today. Having a life coverage policy is not just about life cover but is also known for wealth creation. Policies like Unit Linked Insurance Plan (ULIP) and money-back help you create wealth for the future. There are so many reasons why you need to buy life insurance as a student.
Life insurance may not be a common topic of discussion among young and college-going students. But it is a valuable financial tool that will provide protection and security. Whether it's ensuring that the student loan is covered or protecting dependents, there are a number of reasons for a college student to invest in life insurance. by doing this, you can take a step responsibly towards the security of you and your loved ones' future.
The table below lists some of the best investment plans that are offered by the insurance companies in India
| Plan | Policy Term | Entry Age | Maturity Age |
| HDFC Life Sanchay Plus | 15-25 years | 5 - 60 years | 18-80 years |
| ICICI Gift Plan | 8-17 years | 18-60 years | 18-75 years |
| PNB Metlife Guaranteed Savings Plan | 10-20 years | 3-60 years | 80 years |
| MAX Life Smart Wealth Plan | 6-20 years | 4 -65 years | 18-85 years |
| Edelweiss Tokio Life- Income Builder | 6-12 years | 6-55 years | 18-67 years |
A student can buy life insurance on behalf of their guardian or institution.
It is a good idea to be insured in your 20s because, at a younger age, you can qualify for lower premiums.
life insurance plan will offer a life cover to the students that they can utilize to take care of their family and can also help in paying loans.
The right age to take life insurance is 25 years. At an earlier age, you have to pay less premiums than at the age of 40.
Buying life insurance protects you and your loved ones from the potentially devastating financial losses that could result if something happens to the policyholder.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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Simran is an insurance expert with more than 3 years of experience in the industry. She may have all the answers to your insurance queries. With a background in Banking, she proactively helps her readers to stay on par with all the latest Insurance industry developments.
