RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Top 5 Features of Term Insurance for Senior Citizens

down-arrow
Top 5 Features of Term Insurance for Senior Citizens
May 13, 2023

Financial inclusion for senior citizens is a very essential matter that needs special address. As a senior citizen, you may have a variety of needs and requirements that need to be duly taken care of. A variety of factors like retirement and the absence of a regular monthly income, expenditure on the life goals of children like marriage etc. and the general financial dependence on children may be involved and thus, you may feel the need to have a significant life cover for you and your dependent spouse. When it comes to choosing a suitable term insurance cover for senior citizens, there are certain factors that must be taken care of.

Following are the top five features of term insurance for senior citizens:

  1. Scope of coverage:

    As you mature, your policy protection requirements also change. As you will have less financial obligations at the time, you can easily opt for plans that can help with your well-being. Many companies offer affordable and cheap term insurance covers to choose from. Whether you are 80 or 50, insurance companies will provide you options that will be easy to maintain for you and make you financially independent. The sum assured must be sufficient to offer cover for you and your dependent spouse.

  2. Go online:

    In this age of online plan comparison, there is no need for you to go anywhere. Sitting in the comfort of your home, you can conduct an online comparison of various plans being offered by various insurance providers. This will give you a fair idea of whatever is being offered by way of being in thorough fulfillment of your requirements. Online availability of a plan helps you in securing the policy quickly in a timely manner. Besides, there are no hassles of agent-visits and excess documentation, which further saves your time and eases the procedures involved.

  3. Payable premiums:

    This is very essential as this gives a fair viewpoint of affordability of a plan and whether you can set aside a particular amount every month (or as per the chosen frequency) for the chosen plan.

  4. Riders:

    A suitable term plans comes with various riders which allow you to enjoy extra cover in return for a degree of higher premium. These riders are in the form of riders for critical illnesses, accidental death or disability or waiver of premiums. Choosing a suitable rider also rids you of the need to purchase a different plan in case you feel that the existing cover does not offer complete benefits.

  5. Flexibility of pay-outs:

    A suitable term insurance plan must offer complete choice of receiving the payable benefits as a one-time lump-sum amount or as monthly, regular payouts, depending on your own convenience.

HDFC Life offers Click 2 Protect Life an online term insurance plan that offers guaranteed financial protection against the unforeseen maladies like death, disease and disabilities. It seeks to protect your family's financial needs, even in your absence.

Related Articles

Buy Term Insurance

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Why Term Insurance is Important at Every Stage in Life?

Why Term Insurance is Important at Every Stage in Life?

Learn why term insurance is vital at every life stage. It offers financial security, peace of mind, and high life coverage to ensure your loved ones are protected.

Term Insurance Maturity Benefits: A Comprehensive Guide

How to Choose the Right Term Policy Period?

Buying Term Insurance? Don't Ignore Claims Settlement Ratio

Don't overlook the critical factor when buying term insurance and discover why it's a vital metric to ensure your financial security and peace of mind. Read Now!

Buying Term Insurance? Don't Ignore Claims Settlement Ratio
Term Insurance Cost - Whats Right and Whats Not Previous
Insurance - The First Thing on Your Bucket List After Marriage Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches