Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin

Which Is The Perfect Life Insurance For Senior Citizens Over 65 In India?

Published On Dec 18, 2021

The elderly population in India is growing every day, thanks to an increasing life expectancy rate. Everyone wants to be looked after in their later years. If they are unable to financially or physically sustain themselves, senior citizens may feel alone and forlorn. As a result, life insurance becomes a necessary component for the security of an elderly individual. Purchasing insurance coverage is one of the finest methods to look after the elderly and help them feel financially and emotionally secure.

The leading reason for getting insurance is that it helps senior citizens supplement their income and support themselves and their families. Insurance policies are also beneficial since they serve as both a savings and an income source, as the money collected from these policies may be used to pay off other obligations such as outstanding loans, medical expenditures, and so on. To find more info on life insurance policies for senior citizens, read on.

What Is Life Insurance?

Life insurance is a contract that specifies the financial benefits between an insurer and a policyholder that the firm will offer over a specific time period or upon the policyholder's untimely death. In exchange for a maturity or death benefit, the policyholder pays the insurer monthly or annual premiums. A person who purchases life insurance is deciding to safeguard their family from life's uncertainties.

Top Insurance Plans For Senior Citizens

Following are some of the top listed insurance plans for senior citizens -

  • LIC’s E-Term Plan

The e-Term Plan, which is an online term insurance plan, is available to those between the ages of 18 and 60. The insured will be covered under this policy until he or she reaches the age of 75. Individuals who are interested in acquiring this coverage must select a policy period between 10 and 35 years. The minimum sum insured in the aggregate category is Rs.25 lakh, while the minimum value assured in the non-smoker group is Rs.50 lakh. The premiums for this product must be paid on a yearly basis.

  • Max Life Insurance Online Term Plan Plus

Basic Life Cover, Life Cover + Monthly Income, and Life Cover + Increasing Monthly Income are the three types of Online Term Plans Plus offered by Max Life Insurance. In all three types of this insurance, the life guaranteed is covered up to the age of 85. The two premium payment options offered with this plan are 'Pay until 60' and 'Regular Pay.' In the case of the policyholder's death, the nominee will receive a lump sum payment equal to the full value assured.

  • HDFC Life Check 2 Protect 3D Plus Plan

The Click2 Protect 3D Plus Plan from HDFC Life is a nine-plan online term insurance policy. Life Stage Protection is a feature of this insurance that allows customers to increase their coverage level at key stages in their lives. The maximum age for this insurance is 65 years old. All plan variants have a maximum age at maturity of 75 years, with the exception of the Life Long Protection Option and the 3D Life Long Protection Option. The policyholder is protected for the remainder of their lives with the Life Long Protection Option and the 3D Life Long Protection Option.


Senior citizens over the age of 80 may find life insurance to be a wonderful method to safeguard and secure their families and dependents. Individuals can also benefit from premium exemptions, expedited death benefits, accidental death and disbursement coverage, and other living benefits offered by select insurance insurers. Several firms now provide insurance without a health examination, which is a useful choice for people who don't want to deal with the hassles of an examination.

Also read: 

How To Check if Your Retirement Corpus Will Be Enough?

How Important Is Retirement Planning?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Popularly Opted Term Insurance Sum Assured

People Also Read

Must BuyMust Buy

Why to Buy Life Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 1,50,000*
  • Claim support everyday 10AM-7PM
  • 50 Lacs+ happy customers
Find the right life insurance for you
By clicking, I agree to *terms & conditions  and privacy policy.
Find the right life insurance for you
By clicking, I agree to *terms & conditions  and privacy policy.