What is Life Insurance for Senior Citizens?
Life
insurance for senior citizens in India is a special type of insurance policy designed for individuals typically above the age of 60. These policies offer financial security to their loved ones in the event of their death and, in some cases, provide maturity benefits if the policyholder survives the term.
Whether you are retired or nearing retirement, a life insurance plan helps you leave behind a legacy and reduce financial stress on your family.
Even after retirement, many senior citizens have dependents — a spouse, differently-abled child, or other family members. A life insurance policy ensures they are taken care of financially.