New Delhi, Sept. 25 -- I'm 26, just started my first job, and to be honest, insurance feels like something far away. But I hear experts saying to start early since it will be cheaper. I don't have dependents yet, but I also don't want to regret missing out on low premiums at my age. How do I decide how much life cover I actually need right now, without overcommitting when my salary is still modest?

- Name withheld on request

It's wise to consider life insurance early. Buying a term plan in your 20s locks in very low premiums for long durations. For example, a healthy 26-year-old non-smoker could secure a Rs.1 crore cover for around Rs.7,000-10,000 annually, often less than the cost of a daily coffee.

Since you don't yet have dependents...