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Top Reasons to Get Term Insurance by Age 30

By the time many of us reach 30, life starts taking shape. We may have a steady income, a small family, a car, and even a dream of owning a home. But with all these responsibilities comes the need for protection—especially financial protection for our loved ones. This is where a term insurance plan becomes important.

Term Insurance by age 30 is not just about planning for emergencies, but also about giving peace of mind to your family. It ensures that your loved ones can continue living comfortably even if you are not around. In this blog, we will look at why you must take term insurance by 30, and how it can help you stay prepared for life's uncertainties.

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Written ByShruti gujarathi
AboutShruti gujarathi
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Shruti gujarathi has 5 years of experience in the BFSI sector, and as Manager- Digital Marketing at Bajaj Allianz Life Insurance, manages digital and content marketing. She has had hands-on experience in content strategy, performance marketing and Strategic Alliances over a career spanning 10 years.
Reviewed ByRituraj Singh
AboutRituraj Singh
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Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Allianz Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.
Written on: 23rd June 2025
Modified on: 24rd June 2025
Reading Time: 15 Mins
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Let us look at five reasons to buy term insurance in your 30s


Your 30s are when life gets serious. You may have a job, a family, or big plans like buying a house. This is also when people start thinking about long-term safety. Term insurance is a smart choice at this age because it protects your family if something happens to you. It gives peace of mind and financial help to your loved ones. Let’s look at the top reasons why buying term insurance by age 30can make your life more secure and stress-free for many years.


1. It's most advisable


Getting term insurance in your 30s is a smart step. At this age, most people start taking on big responsibilities like loans or planning a family. If something unfortunate happens to you, the insurance will help your family financially. You can also choose a long coverage time. Since you are still young, you will be able to get good coverage easily. This is why many experts say it’s best to buy a plan at this stage. It gives long-term peace of mind to both you and your loved ones.


2. Low Premium for people who start investing early


If you buy term insurance in your 30s, you can get it at a lower price. This is because younger people are usually healthy. Your health conditions impact the premium therefore if you are healthy the premiums paid are comparatively less. If you wait until your 40s or 50s, the price goes up as health risks increase. So, starting early means you get the same plan at a much cheaper cost, while still giving your family strong protection for the future.


3. Option of Locking in your premium


When you buy a term plan early, you can lock in your premium. This means the price you pay each year stays the same for the full term. Even if you get older or your health changes, the premium won’t go up. It helps you plan your monthly or yearly expenses better. You won’t get any surprises later. This is a big advantage, especially when your salary or income changes over time. It gives you more control over your money and long-term financial planning.


4. Income Tax Savings benefits


Term insurance can help you save on income tax. The money you pay as a premium can be claimed as a deduction under Section 80C of the Income Tax Act under old tax regime. This lowers your taxable income. Also, the amount your family receives if something happens to you is usually tax-free under Section 10(10D) subject to certain conditions. This means you get protection and also save money on taxes. These tax benefits make term insurance a useful tool for both safety and savings in your 30s.


5. To Lower Chances Of Application Rejection


When you are young, your health is usually better. This means your chances of getting approved for a term insurance plan are much higher. If you wait until later in life, you may face health problems. These can cause delays or even rejections when you apply for insurance. Getting a plan in your 30s helps you avoid these problems. You can get better terms and full coverage without much hassle. It’s easier and smoother to get a good policy when you are still healthy.


6. To Protect Your Family Against Liabilities


In your 30s, you may have outstanding loans - a home loan, car loan, or personal loans. If something happens to you, your family may be responsible for paying these obligations. A term insurance plan can help you in repaying your liabilities. It is reassurance for your family members that they won't have to go through financial headaches. The sum assured would be able to repay the loans and give your family peace of mind. Coverage such as this affords you also peace of mind as you advance in years. You now know your family won't suffer from financial burdens for what is likely to be a difficult time.


7. To Ensure the Financial Security Of Dependents


Term insurance is similar to an umbrella safety net. If you're not around anymore, then the funds from the insurance policy would equal the funds of your income, giving them financial support for everyday living expenses, schooling fees and other things to keep them afloat.


Wrapping up!


Getting a term insurance by age 30 can be a smart step toward securing your future. Life is full of surprises, and while we hope for the best, it’s wise to prepare for the worst. A term plan offers peace of mind, tax savings, and financial support for your family.


The best part? You can get all of this at a lower cost if you start early. Don’t wait for tomorrow. Consider your responsibilities today and plan ahead. It could make all the difference to your loved ones if the unexpected ever happens.


FAQs


Is 30 year term life insurance worth it?


A 30-year term policy is a good alternative to consider if you would like to cover your family for a long time. It provides coverage while you are working and earning money with a mortgage, loans for children’s education, etc. If you die during the 30 years, your family gets money to adjust and continue on with their lives. If you apply for life insurancewhen you are young, it will be cheaper than applying later in life. You will gain peace of mind and protection at a lower cost.


What happens at the end of 30 year term life insurance?


When the 30-year term ends, the plan stops. If you are still alive and no claim was made, you don’t get any money back. The policy simply ends. But during those 30 years, your family stayed financially protected. If anything had happened to you in that time, nominee will receive the death benefit . You can choose to buy a new plan or renew it if you still want coverage after the term ends.


What does a 30-year term mean?


A 30-year term means the insurance company will cover you for 30 years. If you pass away within those 30 years, your family will get thedeath benefits as per the plan’s terms & conditions. After 30 years, the policy ends, and there is no coverage unless you get a new plan. It’s a fixed time plan that helps during your most important years, like when you are earning and supporting your family.


What is the best age for term life insurance?


The best age to buy term insurance can be in your 20s or early 30s. At this time, you are usually healthy, and your insurance costs are low. You can get approval easily and lock a small premium amount for a long period. This also gives your family protection for many years. Buying early helps save money and makes sure you don’t face problems getting a plan later in life.


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The views stated in this article are not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read the sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale. Bajaj Allianz Life Insurance Company Ltd., Regd. office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006, Reg. No.: 116, CIN: U66010PN2001PLC015959, Call us on toll free No.: 1800 209 7272, Mail us: customercare@bajajallianz.co.in

Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy    

BJAZ-WEB-EC-15327/25

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*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

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%%Above illustration is for Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V03) considering Male aged 25 years | Non-Smoker | Policy Term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 6,238. 2nd Year onwards premium is Rs. 6,659. Total Premium Paid is Rs. 1,99,349 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly installments (Lumpsum Payout Percentage : 45, Income Payout Percentage : 55) | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only. This is inclusive of all the discounts mentioned above.

##Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

@Term Insurance plan bought online directly from Bajaj Allianz Life Insurance has no commissions involved.

^^The Return of Premium amount is total of all the premiums received, exclusive of extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws
Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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Disclaimer

Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04)

*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116


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