Are there any advantages in buying insurance at an early age?

Yes. The premium that you pay on your insurance policy is mainly dependent upon two things – your age and the tenure of the policy. The younger you are, the lower is your insurance premium amount. At younger age, you would be physically sound and may not be suffering from illnesses/ medical. This would entitle you to a lower premium on the policy. Therefore it is advisable to buy insurance at an early age to reduce the cost of insurance