Online Term Insurance for Senior Citizen
  • Best 5 Senior Citizen Term Plans
  • Check Your Eligibility
  • Points to Consider Before Purchasing

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Online Term Insurance for Senior Citizen

Having term insurance for your old age can prove to be the most convenient investment tool through which you can secure your financial needs.

Not only the insurance will provide cover for your critical illness, but will also offer the death benefit, which ensures financial security to your family.

Let’s check out 5 online term insurance plans in the market.

Best 5 Term Insurance Plans for Senior Citizens

  1. Aegon Life iTerm Plan

    Aegon Life iTerm plan is a cost-effective and comprehensive term insurance plan that offers financial security to the family of the insured in case of emergencies.

    Eligibility Criteria:

    Entry AgeMinimum Age: 18 years, Maximum Age: 65 years
    Maximum Maturity Age100 years
    Sum AssuredMin: 25 Lakhs, Max: No Limit

    The values may change as per different plan options.


    • The policy allows the beneficiary to choose death benefit payout as a lump-sum or as monthly income or both.
    • In the case of terminal illness, an amount equal to 100% of the death benefit will be paid out so that your treatment & financial situation is taken care of.
    • The policy offers InstaCover Benefit, which makes sure that your policy is in action the day you submit your complete application.
    • Under this policy, the policyholder has an option to reduce the policy premium by quitting smoking.
  2. Bharti AXA eProtect Term Plan

    This is a comprehensive term life insurance specially designed for senior citizens that comes with affordable premiums. The plan provides a financial cushion to your family in case of your untimely demise.

    Eligibility Criteria:

    Entry AgeMinimum Age: 18 years, Maximum Age: 65 years
    Premium Payment TermSame as the policy term
    Sum AssuredMin: 25 Lakhs, Max: No Limit


    • With easy and affordable premiums, this plan is convenient to buy.
    • Thanks to Section 80C of Income Tax Act, 1961, the tax benefit is available on the premium paid and the claim received.
    • In case of your sudden death, an amount equal to the sum assured will be paid as ‘Life Insurance Benefit’ to your nominee.
  3. SBI Life Poorna Suraksha Plan

    This is a non-participating and non-linked term insurance plan for senior citizens with an in-built critical illness cover. The plan provides comprehensive coverage to your family (in case of your untimely demise) to help them face financial difficulties with ease.

    Eligibility Criteria:

    Entry AgeMinimum Age: 18 years, Maximum Age: 65 years
    Maturity AgeMinimum- 28 years, Maximum- 75 years
    Sum AssuredMin: 20 Lakhs, Max: 2.5 Crore


    • The plan offers a unique ‘Life Stage Rebalancing’, where the sum assured for life and Critical Illness cover re-balances during the term of the policy.
    • A premium waiver benefit is offered under this policy on the diagnosis of a listed critical illness.
    • The premium remains the same throughout your policy term.
  4. HDFC Life Click2Protect 3D Plus

    HDFC Life Click2Protect Plus is an online comprehensive term insurance plan that offers insurance coverage at an affordable cost. The plan covers 3D's (Death, Disability, and Disease) to cover your family’s expenses.

    Eligibility Criteria:

    Entry AgeMinimum Age: 18 years, Maximum Age: 65 years
    Maximum Maturity Age85 years
    Minimum Sum AssuredRs.10,000


    • The insurance offers critical illness benefit, where all the future premiums payable under the plan will be waived off.
    • Provides flexibility to choose your policy plan and premium payment option.
    • Offers special premium rates to non-tobacco users and females.
  5. Kotak e-Term Plan

    Kotak e-Term Plan is a comprehensive plan that offers a high level of protection at affordable premium rates. The plan is specially designed to let your family face a financial obstacle with flying colours.

    Eligibility Criteria:

    Entry AgeMinimum Age: 18 years, Maximum Age: 65 years
    Maximum Maturity Age75 years
    Sum AssuredMin: 25 Lakhs, Max: No Limit


    • A death benefit is given to the beneficiary in case of policyholder’s death during the policy tenure.
    • The plan offers preferential rates for non-tobacco users and females.
    • The plan comes with an in-built waiver of basic premiums on total and permanent disability.

    Having term insurance for your old age ensures financial independence after retirement and allows you to live a financially worry-free life.

Written By : Naval Goel

Last Updated : December, 2019

Naval Goel is the CEO & founder of Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of Insurance Web Aggregator.

Find Out What Customers Says

(Showing latest 5 reviews only)

- 4.4/5 (250 Total Rating)

July 23, 2021

Deeksha Rohit Sharma


Got the claims settled for my husband s term insurance plan. Within a few days, with the help of the hard-working team of helped in experiencing a hassle-free claim settlement.

July 23, 2021

Vedant Sharma


Bharti AXA is one of the best Life insurance companies, and I must say that the efforts s team put in with me and helped me in choosing my ideal life plan is commendable. Good Job

July 20, 2021

Raghu Kapoor


Honestly speaking, investing in the SBI ULIP plan was one of the best decisions of my life. After investing for 20 years, I received the maturity benefit. With that amount, I will be able to send my daughter abroad for her higher studies and save something for her marriage. In this time of inflation, saving for your future expenses is a must. and SBI will help you.

July 20, 2021

Vidhya Sharma


One of the best companies to invest your money and secure your family s future. 5 years before I bought the SBI life insurance policy, that too with affordable premiums. Now I am at peace if something happens to me, my children will at least have a financially secured future.

July 19, 2021

Nayanav Wani


ULIP so far has been generating good returns. Happy with the investment and the constant support at SBI Life

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