The phrase
"younger policyholders" refers to individuals who have bought insurance or financial policies at a relatively young age.
Full definition
Because the premiums are relatively inexpensive
for young policyholders, it can be the only way for some to afford the coverage recommended for those with young families.
However,
young policyholders tend to have less to lose financially in a crash lawsuit and can choose leaner policies as a way to save, which we took into account.
Take, for instance, the recent 25 % rise in premiums of health insurance that has lately become the cause of concern for
only young policyholders.
Mature tenants may receive lower rates than
younger policyholders because they are perceived as more stable and less likely to take risks with their property.
Life insurance rates
for young policyholders are typically lower than if you wait to buy a policy when you're older and may not be as healthy.
The new health insurance regulations, implemented by the Indian regulator in October last year, have certainly earned the wrath of majority
of young policyholders as they will be the ones paying more premium.
While
a younger policyholder may have less money to invest in a policy, he or she can opt for a term plan instead of whole life insurance to avoid added costs.
Life insurance is generally cheaper
the younger a policyholder purchases it.
Older individuals often pay far more for these policies than
younger policyholders.
Death benefits for your beneficiaries will be much smaller in size, compared to
younger policyholders, unless you can pay high premium prices.
A younger policyholder will pay less than an older one.
Buying a health insurance policy in early age can get you the cumulative bonus because most likely
a young policyholder will renew his policy every year.
For
young policyholders, the premium for a term plan is very less.
But according to a study,
younger policyholders (age group of 25 - 44 years) and those in metros are more likely to buy online.
So, older people will have more debt units and
younger policyholders, equity.