How do I reduce the cost of buying life insurance?
The cost of a policy could be lowered if you
• Buy insurance at an early age (while the risk is lower)
• Insure yourself for a long period
• Insure yourself for a large sum assured; offer to pay premium annually, thereby receiving discounts
• Select a low cost policy such as a Term product, which offers negligible to minimum returns upon maturity.
Do not buy riders or additional benefits that do not seem to add value to you or are available as other insurance policies at lower prices.
Source: SBI Life Insurance