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Why is purchasing life insurance at a young age recommended?
  • a)
    Premiums are lower for young individuals
  • b)
    Young individuals have fewer financial obligations
  • c)
    Life insurance is not necessary for young people
  • d)
    Young people have better health, reducing premium costs
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Why is purchasing life insurance at a young age recommended?a)Premiums...
Purchasing life insurance at a young age is often recommended because it typically comes with lower premium costs. Young individuals are considered lower risk by insurance companies, as they are less likely to have serious health issues. This results in more affordable premiums compared to buying insurance at an older age when the risk of health problems increases. Additionally, starting early allows individuals to lock in lower rates for the duration of their policy, making it a cost-effective decision.
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Why is purchasing life insurance at a young age recommended?a)Premiums are lower for young individualsb)Young individuals have fewer financial obligationsc)Life insurance is not necessary for young peopled)Young people have better health, reducing premium costsCorrect answer is option 'A'. Can you explain this answer?
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