Best Life Insurance Plans For Senior Citizens

It is never too late to plan for one’s future. Even at 60, you can opt for a life insurance policy to secure your future. The life insurance for senior citizens helps you take care of your family in your absence. Thus, to avoid financial tension, senior citizen policies are very important as they act as a channel for savings and a source of income at the end of the policy term. Several term insurance plans are there which can be purchased by individuals in their 60s. 

Best Life Insurance Plans for Senior Citizens 

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1. Aegon Life iTerm Plan

This term insurance plan provides financial security to the family of the insured in case of emergencies. It offers several benefits such as:

• The plan allows choosing coverage for38 enhanced critical illnesses and 10 basic critical illnesses.
• Offers insurance coverage until the age of 80.
• Death benefit is offered in case of a sudden demise of the insured.

2. Bharti AXA eProtect Term Plan 

It offers flexible payout options catering to situations that may have varying financial needs, along with a claims handler for easy processing of claims. Some of the features that this plan offers include:

• A pure term insurance plan with regular paying options.
• The policy term can be modified based on the policyholder’s entry age.

3. Canara HSBC eSmart Term Plan 

It is an online life insurance plan that provides financial protection and life coverage. The key features of this policy are:

• It offers high life coverage.
• Buying the policy is trouble-free and is done online
• It offers reduced rates for non-tobacco users and females. 

4. HDFC Life Click2Protect Plus

This is an online term insurance plan that offers insurance coverage at an affordable cost. The key features of this policy include:

• Offers critical illness benefit, wherein the future premiums payable will be waived off. 
• Provides flexibility to choose premium payment options.

5. SBI Life Poorna Suraksha Plan

This term insurance plan for senior citizens comes with an inherent critical illness cover.  Features include:

• In this policy the sum assured for critical illness and life cover re-balances during the policy term.
• The premium remains unchanged all through your policy term.

Conclusion

It is clear that senior citizens can benefit a great deal from senior citizen life insurance policies. Before choosing your plan, study your options carefully, so you can enjoy maximum coverage at the most affordable rates. 

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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.