Prices Increasing Soon
Life insurance is an investment vehicle widely embraced by Indians for building a long-term corpus and life risk cover. However, when it comes to life insurance for senior citizens, you may express disbelief, more so for seniors over 85. With the growing Indian life expectancy, seniors are very much within the ambit of insurers with tailored policies for them. On the other hand, the super seniors over 85 have limited plans due to their advanced age but are well protected financially.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Your family elders may have left the best years of their active life behind, but that does not dilute their need for financial independence and peace of mind. Suitable life insurance policy is the proper protection shield that reassures the seniors over 85 that they are still protected and not a burden on the family. However, a tailored plan for seniors over 85 is reassuring for the family, should any misfortune strike them.
Term Plans
The life insurance plans devised for seniors over 85 hold their interests supreme. Accordingly, two plans are eminently suitable to match their requirements from among the many in the insurer’s portfolio. However, the term plan and whole life insurance plans for seniors over 85 need a closer look.
Term Insurance: You get a pure life insurance cover for a specific period under the plan. The cover ends with the contracted term’s expiry if not renewed on time. Term Life Insurance plans are known for their high coverage at affordable premium rates. In addition, the beneficiary is paid the sum assured a death benefit upon the policyholder’s demise to protect the family financially amidst adversity.
Whole Life Insurance: A comprehensive life insurance for financial protection until the policyholder’s survival without any bar on age. However, the whole life policy is priced higher than others for its inbuilt savings element. In addition, the absence of a fixed term for the policy is eminently suitable to seniors over 85, additionally laced with other features.
Retirement plans are specifically designed to support senior citizens after superannuation when the steady income flow dries up. The retirement corpus is assiduously built up during the active professional life for purchasing an annuity. Annuity plans offered by the insurers provide the necessary income stream to the senior citizen throughout their life. In addition, the spouse is covered with the income stream after the annuitant’s demise till she survives.
The senior citizen life insurance plans come with many benefits, apart from financial security. Let us check them out:
It is a financial umbrella designed for peace of mind in the twilight years.
The life insurance plans cover the elderly paying for their various needs, including health.
The coverage and annuity income stream covers the elderly until they survive without any age restrictions.
The annuity plans help the elderly leave a legacy for their descendants.
Secure Your Family Future Today
₹1 CRORE
Term Plan Starting @
Get an online discount of upto 10%#
Compare 40+ plans from 15 Insurers
Contrary to the general perception, life insurance for seniors over 85 is a reality. Considering the growing life expectancy, insurers have designed plans especially suited to the elderly over 85. The life risk coverage and steady income stream through the purchased annuity for financial independence and security extends to their lifetime.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Life insurance fraud is a financial crime that can be committed
Read more
High net worth individuals often opt for life insurance plans to
Read more
“Policy Bazaar insurance clarified the term policy for me, so
Read more
“I recently bought an HDFC term plan and it is the best
Read more
The life insurance policy in India is a type of life insurance
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
