While the best time to buy term insurance is when you are young, if you’re over 45 and want to buy it, you can still save money by following these tips:Cover yourself only till you retire because an unnecessarily long policy duration will further increase your premiumsDon’t overinsure. Choose a life cover that will replace your income till you earn. Higher the cover, higher the premium. So choose only as much as it is required to keep your family financially secure after you pass awayAdd only the essential riders. Otherwise, your premium will become more expensive.Choose a premium payment term as per your convenience. Depending on your cash flows, opt for single, regular or, limited pay.Buy online if you know what you need to buy. Term insurance plans can be 5-10% cheaper when bought online.Compare term plans from different insurers to choose the best premium rate and policy benefits.Check out the KlarifyLife Term Guide to understand your exact term insurance needs.