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ULIP As An Investment Option For Senior Citizens

Updated On Jun 25, 2021

To be financially independent at an old age is a privilege that is in your hands. It is very much possible to attain financial security and stability even in your old age, through efficiency savings and investment. The best way to do this is via ULIPs. Unit-Linked Insurance Plans (ULIPs) offer the dual benefits of insurance as well as investment in market-linked investment funds. 

What makes these plans better is that they have incredible flexibility. From the choice of investment funds to the policy term and more, it is all completely up to the policyholder. Moreover, ULIP investment options also let you withdraw a portion of your fund in times of trouble, without necessarily liquidating your investment assets.

Best ULIP Investment Options for Senior Citizens

There are several ULIPs available currently. Take a look at the best ULIP options for senior citizens.

ULIP Names

Maximum Entry Age

Minimum Premium Amount Payable

ICICI Pru Signature 

70 years

2 Lakhs INR

IDBI Wealthsurance Growth Plan

70 years

There is no such amount

Birla Sun Life Wealth Assunclre ULIP

65 years

1 Lakh INR

Future Generali Wealth Protect Plan

60 years

25,000 INR

LIC Market Plus-I Growth Fund

65 years

30,000 INR

1. ICICI Pru Signature

With a minimum amount of 2 lakhs INR, this plan ensures you can save up significantly for the future. Individuals till 70 years of age can purchase this plan. This makes it more accessible for senior citizens.

2. IDBI Wealthsurance Growth Plan

This plan provides incredible flexibility with no minimum premium amount applicable. It is an affordable option. The plan is perfect for senior citizens as it takes policyholders up to 70 years of age.

You may also like to read:- Are ULIPs Better Than Fixed Deposits?  

3. Birla Sun Life Wealth Assure ULIP

The Birla Sun Life Wealth Assure ULIP is an affordable and efficient ULIP. Pay 1 Lakh INR for premium and enjoy a lifetime of financial security. It accepts policyholders who are younger than 65 years.

Must Check:- Life Insurance Benefits

4. Future Generali Wealth Protect Plan

With only 25,000 INR as premium, this ULIP is one of the cheapest options for ULIPs for senior citizens. Since the maximum age limit is at 60 years, you can opt for it once you have a stable income source.

5. LIC Market Plus-I Growth Fund

Another affordable plan, this is a reliable ULIP. It is a sustainable plan that also has a high claim settlement ratio.

Also Read:- Most Frequently Asked Questions About ULIPs


As a senior citizen, having financial security becomes the most important. With a ULIP, you can save and let your wealth grow even at an old age. It is hassle-free and efficient. So, make sure to get a ULIP for yourself and your family.

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