Term Life Insurance for Senior Citizens

Senior citizen term insurance plans are designed for individuals between 55 and 75 years. Most insurers set the minimum entry age at 55 or 60, while the maximum can range from 65 to 75, depending on the plan.

Applicants must undergo a basic health assessment and provide proof of income to demonstrate their ability to pay premiums. While medical screening is often required, some plans offer limited checks for lower sum assured options. The policy term is usually shorter—ranging from 5 to 20 years—to align with the applicant’s age and health profile.

How to Choose the Right Term Plan for Senior Citizens?

Selecting the right term plan in your senior years requires a thoughtful approach. Start by assessing your financial responsibilities—dependents, or legacy planning. Choose a coverage amount sufficient to meet these needs without straining your budget.

Next, consider the policy term. Opt for a duration that aligns with your financial goals and estimated life expectancy. If you have existing health conditions, look for plans with simplified or no medical underwriting. Compare riders like critical illness or accidental death for added protection. Equally important is the insurer's claim settlement ratio—choose a provider with a strong track record for timely payouts.

Review premium payment options: some allow for limited pay terms, so you don’t have to keep paying through your 80s. Finally, always read the policy exclusions and fine print to avoid surprises later. The right plan balances affordability, adequate coverage, and ease of access—all tailored to your stage of life.