Term Life Insurance: Why Buying It Now Costs Less Than a Zomato Gold Subscription

If you're in your 20s or 30s, this is your 'future-you-will-thank-you' moment

I. The Most Boring Yet Life-Saving Thing You’ll Ever Buy

You know what's less expensive than your OTT packs, your Zomato Gold membership, and your ghosted gym membership after week two? Term life insurance. Yeah, the thing your dad insists you get. The issue is, we all consider insurance to be a "dad issue" — something to bother us at 45, with greying hair and a belly. But the thing is, the sooner you get it, the less expensive and more effective it is.

This is your no-BS, no-jargon, meme-tastic manual for term life insurance — why it's your best adulting decision, how to do it cleverly, and how procrastination will charge you (and your future family) so much more.

II. First, what is Term Life Insurance?

Term life insurance is the most pure form of life insurance. No investment, no savings, just a simple guarantee: in case you die within the policy term, your nominee (or typically your family) receives the full amount insured. If you survive — no payment, but well done on living for a long time!

So, you're not making an investment — you're purchasing protection. It's similar to seatbelts: you don't want to ever use them, but you'd be happy they were there if you do.

Key Words to Understand:

Sum Assured: What your loved ones receive if you die.

Policy Term: The length of time your policy is active for.

Premium: The annual/monthly payment you make.

Nominee: The individual who receives the payment.

III. Let's Talk Money: Why It's So Damn Cheap Right Now

If you're in your 20s or early 30s, congratulations — you're in the sweet spot for cheap premiums. Why? Because insurance companies adore healthy, young, non-smoking individuals. You're less likely to die anytime soon, so you're rewarded with ridiculously cheap premiums.

IV. Zomato Gold vs Term Insurance: A Reality Check

Let's get petty with numbers:

Priorities, people. One of them saves your life. The others? Your dopamine.

V. What's the Consequence of Not Having It?

If you pass away without insurance, this is what your family gets to inherit:

• Your outstanding student loan (if not waived through death)

• Your rent contacts, electricity bills, EMIs

• The trauma of loss + monetary burden

Term insurance doesn't remove grief, but it removes debt. Think of your parents not having to sell assets or tap into savings just to settle your liabilities. That's the true legacy.

VI. When Should You Get One? Spoiler: Now.

Don't wait until you have children. Don't wait until you get married. Term insurance isn't just about dependents — it's about being financially responsible.

If you have loans: Your insurance can settle them.

If your parents rely on your salary: It compensates for lost wages.

If you're creating wealth: It shields your dreams.

The younger and healthier you are, the less your premium and the more likely you are to be approved without medical bumps.

VII. Why Your Future Self Will Be Obsessed With You for This

Think 10 years from now:

• You're married.

• Perhaps you've got children.

• You're servicing EMIs.

• Your life is lit, but your priorities are greater.

Now, think of having the comfort of knowing that if something was to go wrong, your loved ones would still get a crore. That serenity? Unbeatable. You just paid for their protection — at the expense of your 2025 chai budget.

You fixed a high rate prior to your health taking a turn for the worse, prior to you being diagnosed with anything. You beat the system by jumping in when it was affordable. That's game-changing planning.

VIII. How to Select the Correct Term Plan

Here's what to check while purchasing a policy:

Claim Settlement Ratio: Anything more than 95% is good. It indicates how much of a claim the insurer pays out.

Riders: Check for accidental death, critical illness, and disability riders.

Policy Term: Select a term that insures you till at least 60–65 years.

Premium Waiver: In case you become disabled and cannot pay premiums, this continues your policy.

Online Plans: Usually cheaper with fewer commissions.

Tip: Always disclose your smoking status, medical conditions, and income truthfully. Hiding details = claim rejection risk later.

IX. But Isn’t This Just for Married People With Kids?

Nope. That’s like saying savings accounts are only for dads. Here’s why even single, child-free people need it:

• Your parents might depend on you.

• You might have a co-signed loan.

• You’ll probably have dependents later.

• You'd like to tie down low rates while you're still eligible for them.

Adulting = taking the uncomfortable but necessary steps before life makes your hand.

X. Popular Misconceptions Keeping You Poor (and Vulnerable)

"I'll get it when I'm older."

→ It'll cost twice as much or you could be uninsurable then.

"My firm provides me coverage."

→ That's group coverage. It ends when you leave. It's not portable or personal.

"I have no dependents."

→ But you owe debt? Parents? A future?

"Term plans are useless if I live."

→ That is equivalent to "my house didn't catch fire, why did I take fire insurance?"

XI. Real Life, Real Regrets: Stories That Hit Hard

Kunal (32) did not take term insurance. Diagnosed with a heart disease at 35. Could not get insured later.

Megha (28) had a cover of ₹1 crore. Died in a car accident. Her parents settled loans and invested the rest to continue income.

Ritesh (30) believed company insurance was sufficient. Lost job, caught COVID, died without insurance. Family received nothing.

This is not fear-mongering. This is fact-sharing. Your move.

XII. What Term Insurance Isn't

Let's put to rest some confusion:

• It's NOT an investment.

• It doesn't provide returns.

• It's not just for tax-saving purposes (although you do get deductions under 80C).

It's a low-cost safety net. You don't receive returns since you're purchasing risk protection — not a mutual fund.

XIII. How to Apply Without Losing Your Mind

• Compare policies on websites like Policybazaar, Ditto, Coverfox, etc.

• Choose a reliable insurer (look at claim ratio, reviews, etc.).

• Enter truthful details. No shortcuts.

• Get the medical tests done if required.

• Pay online, take soft copy — done!

• Total time: 30–45 mins. Total peace: years.

XIV. Bonus: Future-Proof Your Policy with These Riders

Need a little more peace of mind? Add these:

Critical Illness Rider: Payment in lump sum if seriously ill.

Disability Rider: Protects income loss in case of permanent disability.

Income Benefit Rider: Family gets monthly payments instead of lump sum.

These riders turn your term plan into doing more than merely paying after death. It is life protection, as well.

XV. Final 4 Paras: Let's Future You Say 'Thanks Bro'

1. The Ultimate Flex: Buying Peace of Mind Early

You may not always feel like an adult — bills accumulate, you're navigating things, you're still grooving through life. But securing a term insurance policy is peak adulting. You protected your people before life got complicated. Future-you will look back and say, "Damn, that was smart."

2. You've Got Bigger Dreams — Protect Them

You’re not working this hard just to break even. Whether you’re building a business, a home, a family, or a legacy — your term cover ensures it doesn’t all come crashing down if life takes a turn. It’s not about death. It’s about continuity. Keeping the dream alive — with or without you.

3. It’s Not Glamorous — But It’s Necessary

Nobody uploads selfies with their insurance policy. It won't earn you likes. But it will make you respected — by your family, your financial advisor, and your future self. The things that truly matter aren't glittery — they're substantial. Term insurance is dull by nature. That's the idea.

4. So, What Now? Do the Thing.

Don't think about it too hard. Don't wait until your next birthday rolls around. Bring up a comparison website, narrow down a policy, and cover yourself. Label it your "thank me later" action. Because one day, someone who cares about you will thank you — for looking ahead, for caring enough to plan, for being present even when you're not.".