Term insurance is usually associated with working adults, who have dependents, loans and a steady income. But insurers are now targeting a younger audience, including students and young adults, who might want to secure life coverage before they dive into full-time jobs.
Parents often spend years saving to give their children the best education possible, which can be expensive and usually requires a significant chunk of their savings, along with a hefty education loan. Sadly, if something were to happen to the child, the family could lose their lifelong savings, and still face the stress of paying off the loan. Term insurance can offer financial security in such tough times.
