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Are you too young to buy life insurance? Read what the experts have to say!

Do you think you are too young to buy Life Insurance? Read this to know the best life insurance policy plans for young professionals

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Life insurance policy plans are supposed to be one of the foundational blocks of financial planning. With a life insurance policy, you can not only safeguard your family’s future in the event of an eventuality but also invest your capital in long-term growth options to achieve all your financial goals in life.

Suppose you’ve ever been into insurance and financial planning. In that case, you may already know that several companies are available in the market that offers varying insurance plans, each with unique features and benefits. Due to this, choosing a specific insurer becomes an overwhelming and daunting task.

In that case, it’s essential to conduct your arch and compare various plans available as per your choices and choose the one that aligns perfectly with your financial goals. Moreover, the sooner you purchase a life insurance policy plan, the more benefits you can yield.

With that said, if you’re a young person with a stable profession, this is the best time to start investing your capital for the betterment of you and your family’s future. Therefore, let’s take a look at the six best types of life insurance plans for young professionals:

1. Aditya Birla Sun Life Protector Plus Plan

The Protector Plus plan offered by Aditya Birla Sun Life is a very comprehensive insurance policy that offers reliable financial security to your dependents in the event of your unfortunate demise. In addition to insurance coverage, the plan also allows you to grow your funds in the long run, which will enable you to create a financial cushion for the betterment of your family.

The minimum entry barrier for this plan is only 18 years, which makes it a perfect match for young working professionals.

Are you too young to buy life insurance

2. Aegon Life iTerm Plus Plan

The iTerm Plus Plan provided by Aegon Life is an online term plan that allows you to generate a corpus of monetary resources at very affordable premium rates. It features pre-defined riders like critical illness riders and accidental death benefits with its base plan.

Moreover, you can also pick from four different covers: the life benefit option, life plus benefit option, life and health benefit option, and life and health plus benefit options. If you purchase this plan at a young age, you can yield maximum benefits as it offers a high maturity age of 80 years.

3. Aviva i-Life Plan

Aviva i-Life is a life insurance plan that offers various coverage options to make your investments highly personalized as per your financial goals. This plan can be availed online from the comfort of your home, with minimal paperwork required to make the process completely hassle-free for you.

It also provides tax benefits under section 80C of the Income Tax Act of India. Additionally, there’s also an extra 5% rebate for female policyholders.

4. Bajaj Allianz Life Smart Protect Goal

The Bajaj Allianz Life Smart Protect Plan provides you with the combined benefits of financial protection for your family in the case of your demise and wealth generation to help you achieve your financial objectives in life. There are various unparalleled features available in this plan that offer you highly comprehensive coverage.

You can also opt-in for the return of premiums feature that allows you to get back all your premium payments if you survive until the end of the policy tenure.

5. Bharti AXA Life Monthly Advantage Plan

The Bharti Axa Life Monthly Advantage Plan is a traditional participating plan that provides guaranteed monthly income until the end of the tenure of your policy. In addition to the assured returns on your investment, you will also enjoy life coverage that offers a vast corpus of money to your family and dependents in the event of your unfortunate death.

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It allows you to choose from three different policy tenures as per your requirements. After paying a limited number of premiums, you’ll start receiving a guaranteed monthly income with this plan.

6. Canara HSBC Oriental Bank of Commerce Select Star Term Plan

The Select Star Term Plan by Canara HSBC Oriental Bank of Commerce is all-around protection for your family against various uncertainties of life. It’s a highly flexible plan that can be tailored as per the current stage of your life. There are several options to pick from in terms of coverage, pay-out benefits, and premium payments.

Optionally, you can also add your spouse to the same plan with exciting discounts on prices. Furthermore, as you progress further through the stages of your life, you can choose to increase the coverage of the same policy to align it with your financial milestones.

7. Why Should You Purchase Life Insurance At A Young Age?

Purchasing a life insurance policy plan at a young age costs you less money comparatively in the long run. An insurer considers various factors like your age and health condition to develop an adequate premium rate for you. At a young age, you don’t have many risks of death, and that’s why you get to enjoy lower premiums.

Moreover, the earlier you start, the more time your money gets to grow. This means you’ll be able to enjoy higher maturity or death benefits with your policy. Additionally, by exposing yourself to the art of investment, you’ll learn more about it throughout your life. This will also enable you to make other financial decisions between your existing policy that may help you grow your funds even more.

Bottom Line

Life insurance is undoubtedly an important financial aspect of life, and by purchasing it at a young age, you lay the foundation for a financially secure future. Therefore, make sure you check out the types of life insurance plans available and then choose a method suitable for young professionals from the options given above to select an insurance policy that works best for you.

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Business

How to Recycle Like a Pro: Tips for Businesses

One direction is positive for the world and the environment, and one fills our already burgeoning network of landfill sites. Here’s how you’ll prioritize the former, recycling like a pro as a business.

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When the material passes through a business, it either gets passed on to another company in a product or packaging or is regarded as waste. In addition, this waste falls into two categories: recyclable waste that will head to special recycling units to be processed and reused in the future, and general destruction that leads to a landfill.

One direction is positive for the world and the environment, and one fills our already burgeoning network of landfill sites. Here’s how you’ll prioritize the former, recycling like a pro as a business.

1. Packaging

For most businesses, the packaging that items, materials, and products arrive in constitutes their primary source of waste. This is especially true of firms that make things, but the same can be said of office firms that still receive large deliveries of office items.

Most of this packaging should be recyclable. If it’s not, urge your suppliers to consider changing to recyclable packaging or find another supplier that uses it. In this way, you’ll contribute to the idea that landfill waste via packaging is not acceptable in 2021.

2. Organizing

For businesses that are constantly fighting through waste – these are the firms that will operate a large facility that cannot help but produce a large volume of waste per day – there are ways to organize it to avoid failing to recycle.

The essential tip here is to funnel your waste towards a waste processing room, in which you’ll separate the waste carefully before placing it in compacting balers to be crushed into manageable cubes. You’ll find such balers on recyclingbalers.com – and they’re well worth equipping yourself with to tighten up the way you deal with your waste and recycling.

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3. Disposing

Once you have your compacted cubes of recycling, you’ll need to find the most efficient and effective way to dispose of them. Often, this will mean teaming up with a local recycling firm that’ll come and collect your recyclable cubes from your facility, taking them to a recycling plant for processing.

However, if no such firm exists in your area, it may be worth hiring your van to make these regular trips to a local recycling facility, where you can drop off your waste yourself. In either case, make sure that the facility in question is reputable and that you’re confident that your recycling will be handled responsibly once you hand it over.

4. Outgoings

Your firm may also produce products that you then load onto trucks and watch leave your facility for your clients’ stores. These too should be packaged in recyclable packaging, with clear labels on the packaging to tell end consumers how best to dispose of their waste.

This will complete your recycling responsibilities, ensuring that from the moment material enters your firm to the moment it leaves, you’re doing your utmost to provide any recycled waste and not added to the landfill. Making your firm a pro recycler will require you to follow these four steps – each of which is certainly achievable for any business.

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