India, Nov. 11 -- Many people in India still put off buying term insurance. Some are not aware of why it matters. Others feel that every rupee invested should give something back, even if they outlive the policy. IRDAI's Annual Report 2024-25 puts life insurance penetration in India at just 2.7% of GDP. The good news is that term insurance is among the most affordable ways to protect your family.

In this blog, we'll list five simple tips to find the most affordable term insurance without compromising your cover.

1. Buy Early and Lock In a Lower Rate

The easiest way to get the cheapest term insurance is to buy your policy early in life. Insurers use your age to judge risk, and they consider a 25-year-old at low risk than a 40-year-old. ...