Life Insurance For Senior Citizen

Hello sir, I want to take life insurance police for my grandfather. Can any one here provide me detail of life insurance for Senior citizen?

Life insurance for senior citizens is extremely important to make them feel protected.

Almost 95 million people in India are above the age of 60 and 8 million people are above the age of 80. Also, in the coming years, it is expected that about another 80 million will reach the age of 60.

Life Insurance Plans for Senior Citizens
There are a number of insurance plans designed especially for senior citizens. Mentioned below a few plans for them:

Reliance Life Super Golden Years Term 10 Senior Citizen Plan
LIC's New Jeevan Nidhi Plan
Varishtha Pension Bima Yojana offered by LIC.

Key features of Reliance Life Super Golden Years Term 10 Senior Citizen Plan:

It is a systematic investment plan to secure your future.
You can choose among eight different investment funds.
You can switch between funds.
It is a flexible unit-linked pension plan.
Regular, single and top-up premium payment options are available.
Get tax free commutation up to one third of fund value.

The key features of this policy are that the sum assured under Hospitalization and Domiciliary Hospitalization is ` 1,00,000 and under Critical Illness is ` 2,00,000. Ambulance charges would be reimbursed to a maximum of ` 1,000 and the company would not provide any excess amount other than the assured sum as mentioned in the schedule.

Some Insurance Companies in India:

Aviva Life Insurance
Bajaj Allianz Life Insurance
Birla Sun Life Insurance
HDFC Standard Life Insurance
ING Vysya Life Insurance
Life Insurance Corporation of India
Max Life Insurance Company
MetLife India Insurance
Reliance Life Insurance
Sahara India Life Insurance
SBI Life Insurance
Tata AIG Insurance Company Ltd
Om Kotak Mahindra Insurance Company

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Answered By StudyChaCha Member