- Webpages
- Documents
- HDFC Life ClassicAssure PlusInvestment
- HDFC Life ClassicAssure PlusInvestment
- HDFC Life ClassicAssure PlusInvestment
For Online Policy Purchase
(New and Ongoing Applications)
-
Call (All Days & Toll free)
-
Whatsapp
-
Call (For NRI customers, All Days, Local charges apply)
-
Email
-
Request call back (Missed Call)
Branch Locator
-
Locate a branch
For Existing Customers
(Issued Policy)
-
Whatsapp
-
Call (Mon to Sat, from 10 am to 7 pm, Local charges apply)
-
Call (Mon to Sat, from 10 am to 7 pm, STD charges apply)
-
Email
-
NRI-Email
Fund Performance Check
-
Call (Missed Call)
What do you want to do?
What is the Age Limit to Buy a Term Insurance Policy?

Terms plans are pure life insurance products. They provide a high sum assured at relatively affordable premiums. These policies do not offer any investment or savings component, making them light on the pocket. Many young Indians do not understand the importance of term plans, so they avoid purchasing them until they are around 40 and have several financial responsibilities. The more you delay purchasing insurance, the more expensive it becomes. Insurance companies also have an age limit that prevents individuals over 65 from buying policies. Let’s learn more about term insurance age limits.
What is the Term Insurance Age Limit?
As people age, they often face health issues that can become fatal. As your health deteriorates, insurance companies view you as a higher risk. They will likely increase your premium to cover their costs. Companies also restrict who they sell insurance to based on the customer’s age. Most term insurance providers do not sell new policies to individuals over 65. In many cases, they will not provide coverage to anybody over 75. These limitations mean you can only opt for 10-year tenure if you purchase a plan when you’re 65.
Given the age limit on term insurance, let’s look at the best time to purchase a term policy.
When is the Best Time to Purchase Term Insurance?
In Your 20s
Most 20-somethings have just started working. They are still finding their feet in the world and often have limited financial responsibilities. In India, many young individuals stay with their parents and have to manage only their daily expenses. Most people assume they do not require a term policy, but that isn’t true. Individuals can purchase a plan once they turn 18 to enjoy coverage for longer at a pocket-friendly cost. Insurance companies offer competitive premiums to young and healthy individuals. You can opt for 40-year tenure and remain covered until you retire. Even if something happens to you in your 20s, the payout will help your parents repay any student or vehicle loans in your name.
In Your 30s
By the time you reach 30, you might have chosen a life partner and started a family. You now have the added responsibility of saving up for your child’s higher education, looking after your spouse and retired parents and more. Purchasing a term plan during this decade helps provide for your dependents. Premiums at this stage are still affordable as long as you don’t have health risks. The payout from your policy provides your loved ones with the financial stability required as they deal with a difficult time.
In Your 40s
As you enter your 40s, you start to worry more about your finances and planning for retirement. Your child has likely started school and may want to pursue hobbies or classes that require a significant investment. Your career has advanced enough to provide a comfortable life, but your family could struggle without your income. A term plan at this stage helps you secure your child’s higher education in India or abroad if something happens to you. It also provides the finances your family needs to alleviate any debt you may leave behind.
In Your 50s
It’s almost time to hang up your working boots. You may fear that it’s too late to get insured. Don’t worry. You can purchase a term plan in your 50s and early 60s. You might have all your finances in order, but a term policy allows you to leave a good legacy for your loved ones. You may also have children who still depend on you, and the payout from the policy could provide the support required at a difficult time.
As you can see, there’s never a wrong time to purchase a term plan. Everybody under the age of 65 can opt to buy a policy to secure the family’s finances and leave a legacy their loved ones will remember. Term plans that offer a return of premium option also help you save up for some long-term goals. Some companies have term plans that provide coverage until 99. Check your options and find the policy that best suits your needs before you pay the premium.
Similar Articles
- What is Term Insurance?
- What Will Happen When a Term Life Insurance Policy Matures?
- 4 Simple Methods to Calculate : How Much Term Insurance You Need
- Types of Death Not Covered by Term Insurance
- 5 Reasons Self Employed People Should Buy Term Insurance
- 1 Crore Term Plan - Is this Sufficient for You?
- What Does Happen to Your Term Insurance Plan Post-Divorce?
- 8 Questions to Ask Before Buying Term Insurance
ARN – ED/11/22/30693
Tax Articles
Subscribe to get the latest articles directly in your inbox
Life & Term Articles
Investment Articles
Calculators
Here's all you should know about life insurance.
We help you to make informed insurance decisions for a lifetime.
HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.
For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale.
BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS
|

Popular Searches
- term insurance plan
- savings plan
- ulip plan
- retirement plans
- health plans
- child insurance plans
- group insurance plans
- long term savings plan
- fixed maturity plan
- monthly income advantage plan
- income tax calculator
- pension calculator
- bmi calculator
- compound interest calculator
- term insurance calculator
- income tax
- tax saving investment options
- best investment plans
- benefits of term insurance calculator
- what is term insurance
- why to invest in life insurance
- tax planning for salaried employees
- how to choose best child insurance plan
- tips for buying retirement plan
- 1 crore term insurance
- importance of saving
- short term saving plans
- types of investment in india
- investment declaration