Buying a term insurance plan at the earliest gives you the obvious advantage of low premiums. As you are in the best of your health, the insurance company would offer lower premiums even for a high sum assured. That being said, the act of buying life insurance is the most crucial aspect, irrespective of age.

This might be quite subjective and depends on several aspects. For starters, you can consider your age. The younger you are, the longer the period you need protection for. Moreover, there might be more people who are financially dependent on you. It’s the other way round, as you grow older. Your lifestyle habits are yet another crucial aspect.

For the same insurance plan, premiums won’t change as long as your policy is active and unchanged. However, premiums might alter if you buy a new plan altogether or decide to increase your life cover or opt for additional benefits. 

Yes, you can avail a loan against your savings plan, subject to terms and conditions.