5 Best Term Insurance Plans for 70 Year old in India

Term insurance is a pure protection plan which offers coverage to the family of an insured person in case of any miss happening. If the subscriber of the insurance policy dies because of any reason, the beneficiaries of the same policy get a coverage amount as per the norms of the term insurance plan.

This amount from insurance plan can not fill the void that has been created in the lives of the family members of the insured person because of the unfortunate demise of that person, but it can work as a replacement of income for the short-term and long-term requirements for the family, this is the reason why Best term plans for senior citizens in India are launched.

Earlier, such policies were available for younger policy buyers only, but now there are Best term plans for senior citizens in India also. There are top term insurance plans for 70-year-old in India, the 50s, 60s, are available, one more advantage is that these best term insurance for 70-year-old in India offers coverage up to 75-80 years of age.

5 Best Term Insurance Plans for 70 Years-old in India

The following best term insurance plans for 70-year-old in India. Let us have a look at these:

Now, that we have seen the top term insurance plans for 70-year-old in India, let us discuss some details of them one by one so that we have complete knowledge about the Best term insurance for 70-year-old in India.

1. Aviva Life Shield Platinum Term Insurance

This is the very first term insurance for senior citizens in India we will be talking about, which is comprehensive and provides security financially to the family of an insured person in case of any kind of emergency. Not only does this 70-year-old term insurance plan offers insurance coverage but also this term insurance for 70-year-old offers other different benefits that are in-built such as, accidental death and serious illness.

Benefits of Aviva Life Shield Platinum Term Insurance

• The very first feature of this term insurance for senior citizens in India is, the insured person can get the insurance coverage till the age of 65 years.
• Another feature of this term insurance for senior citizens in India is that the insured person can coverage itself for some serious illnesses and some enhanced serious illnesses.
• In case the insured person gets permanently disabled or suffered from any critical illness, the insured gets the benefit of waiver of premium under the term insurance plan.
• The next benefit of term insurance for senior citizens in India is the tax benefit which is offered by the Income Tax Act under section 80C.
• This one of the best term plans for senior citizens in India provides a discount on the premium plan for people who do not smoke and for female buyers too.
• The insurance buyer gets this benefit to increase the life coverage of the policy as the option of increasing life cover is provided by one of this Top term insurance for 70-year-old in India.
• Under the death benefit of this term insurance for senior citizens in India, the beneficiary gets the benefit of this policy In case of the unfortunate demise of the insured.

2. Canara HSBC eSmart Term Plan

This term insurance plan for senior citizens up to 70 years is a non-linked term insurance plan for 70 years old which has in-built coverage for serious illness. This is the best term plan for senior citizens in India because this provides insurance coverage to the family of the insurance buyer in case of any miss happening with the insured person.

Benefits of Canara HSBC eSmart Term Plan

• The very first benefit of this term insurance for senior citizens in India is, this plan offers the benefit of the increase in critical illness.
• In case the insured person is diagnosed with any serious illness, the benefit of a premier waiver is provided under this term insurance for 70 years old.
• The next benefit of this 70-year-old term insurance is the automatic adjustment in the sum assured as the policy completes a year between life and serious illness.
• The premier of this Term insurance for senior citizens in India is fixed throughout the period of the term insurance for 70 years old.
• The maximum maturity age provided by this term insurance plan for seniors up to 70 years is 75 years of the age.
• This term insurance for 70-year-old offers a tax relaxation if the premium is paid towards the 70-year-old term insurance up to the maximum limit of Rs.1.5 lakhs as per Income Tax Act under the section of 80C.

3. Exide Life My Term Insurance

This term insurance is also one of the best term insurance for 70-year-old in India because this is specifically designed for senior citizens. This is the Best term plan for senior citizens in India because this provides financial security to the family of the insurance buyers in case of any miss happening with the insured person. This is comprehensive term insurance for 70 years old and very beneficial.

Benefits of Exide Life My Term Insurance

• This Term insurance plan for seniors up to 70 years is specifically designed to cater to the needs and requirements of senior citizens.
• One of this Top term insurance for 70-year-old in India promises to extend the policy coverage without making the insured person go through any kind of medical test.
• This is one of the Best term plans for senior citizens in India as it offers the sum assured of Rs.5 lakhs after the completion of 2 years of the policy from the date of starting this term insurance for 70 years old.
• In case of the unfortunate demise of the policyholder, benefits of the policies will be given to the beneficiary of this 70-year-old term insurance.
• This term insurance for 70-year-old in India offers a tax relaxation if the premium is paid towards the 70-year-old term insurance up to the maximum limit of Rs.1.5 lakhs as per Income Tax Act under the section of 80C.
• As per this 70-year-old term insurance plan, only death benefits are provided and no maturity benefits are offered for this Term insurance plan for seniors up to 70 years.

4. Future Generali Flexi Online Term Insurance Plan

One of the best term insurance for 70-year-old in India is comprehensive term insurance for 70-year-old as it safeguards the financial security of the family of policyholders in case of any unfortunate happening. Another feature that makes this policy one of the best term plans for senior citizens in India is that this policy can be taken online without any hassle and without going to any particular office.

Benefits of Future Generali Flexi Online Term Insurance Plan

This term insurance for senior citizens in India provides several benefits, features of one of the Top term insurance for 70-year-old in India are given below:

• You can easily purchase this best term insurance plan for seniors up to 70 years as it is available online, which makes the purchase of this policy hassle-free.
• This one of the best term plan for senior citizens in India provides a discount on the premium plan for people who do not smoke and for female buyers too.
• Being a pure protection plan, this term insurance for seniors up to 70 years provides only death benefits.
• This term insurance for 70-year-old in India offers a tax relaxation if the premium is paid towards the term insurance for 70-year-old up to the maximum limit of Rs.1.5 lakhs as per Income Tax Act under the section of 80C.
• This 70-year-old term insurance provides policy coverage till the age of 75 Years.

5. Kotak Preferred eTerm Plan

This is one of the best term insurance for 70-year-old in India is complete term insurance for 70 years old and also can be purchased online mode by sitting in your home and no need to go anywhere out. This plan is one of the top 5 term insurance for 70-year-old as it provides three different types of cover options from which you can choose whichever suits you. During the time of any emergency requirement, this one of the best term plans for senior citizens in India provides financial help to the family of the policyholder.

Benefits of Kotak Preferred eTerm Plan

Below are given some of the benefits provided by this term insurance for senior citizens in India:

• This 70-year-old term insurance is easily available online which makes it hassle-free and easy to operate from wherever you are.
• This term insurance plan for seniors up to 70 years provides a Regular premium Payment option which can very beneficial as it doesn’t burden the policyholder all at once.
• One of these Best term insurance for 70-year-old in India offers a tax relaxation if the premium is paid towards the term insurance for 70-year-old up to the maximum limit of Rs.1.5 lakhs as per Income Tax Act under the section of 80C.
• Other benefits like Add-on rider benefits are provided under this Term insurance plan for seniors up to 70 years. According to this benefit, you can extend your plan’s coverage.
• As this policy is available online, this makes the purchase of one of these Top term insurance for 70-year-old in India very simple and hassle-free as well.

Why should buy a Term Insurance Plan for Senior Citizens up to 70 Years?

There are so many reasons to buy term insurance for a 70-year-old, below are given some of them just to make you aware that what makes it important to buy 70-year-old term insurance.

• Best term plans for senior citizens in India provide a death benefit according to which in case of unfortunate demise of the policyholder, the policy benefits are given to the nominee of the policy and the family. Using that amount the family can fulfill their short-term and long-term requirements and can also pay the debts if there are any.
• Term insurance plan for seniors up to 70 years helps in securing the financial future of the dependent of the policyholder, for example; the education of children, marriage, etc.
• Best term plans for senior citizens in India provide different payout options as a benefit. If you want to purchase any of the best term plans for senior citizens in India you can choose one of the payouts options at your convenience.
• With the help of any of the Top term insurance for 70-year-old in India in India, the policyholder can easily create a financial cushion in a long term.
• If a person is working even after retirement to support the financial needs of the family, in that case, he/she should consider purchasing one of the top 5 terms insurance for 70-year-old in India, because, in case of any miss happening, this term insurance for 70-year-old will work as the replacement of monthly income for policyholder’s family.

Frequently Asked Questions

Q1. What are the basic features to mention, are provided by the Best term insurance for 70-year-old in India?

Ans. The basic features provided by the Best term insurance for 70-year-old in India are:

• Age limit
• Insurance coverage
• Premium Rate
• Medical test
• Riders, etc.

Q2. Does this Best term insurance for 70-year-old in India, provides options for payout?

Ans. Yes, the Best term insurance for 70-year-old in India provides different options for payout and you can choose one according to your suitability.

Q3. What is the age limit required for the Best term plans for senior citizens in India?

Ans. The age limit varies as per the insurance plans. Some have an age limit of 65 years, whereas some have 75 years, so the age limit is not fixed for any of them.

Q4. Can you name some other insurance plans other than Are these top term insurance for 70-year-old in India in India?

Ans. Yes, we can name some other insurance plans which are not being included in the top term insurance for 70-year-old in India in India are:

• Aditya Birla Sun Life Term Insurance Plan
• Bharti AXA eProtect Term Plan
• Bajaj Allianz Term Insurance Plans
• Edelweiss Tokio Term Insurance Plans
• Aegon Life iTerm Plan, etc.

Are some of the other Best term plans for senior citizens in India available in the market.

Q5. Can policy coverage be extended in Top term insurance for 70-year-old India in India?

Ans. Yes, most of the top term insurance for 70-year-old in India in India provides this benefit of extension of the coverage of your 70-year-old term insurance.

Q6. What is term insurance?

Ans. Term insurance is a kind of contract between the insurance buyer and the company. According to this contract, the company which is providing the term insurance collects money which is name as “premium“ on a particular period, let’s say monthly, and during this contract, if the policyholder passes away because of any unfortunate reason, according to the above-mentioned contract, a fixed amount of money is given to the family or the nominee of the policy. So that they can handle their economic condition.

Q7. At what age can we buy a Best term plan for senior citizens in India?

Ans. There are insurance plans available which you can buy in the age of 50s, 60s, and 70s. It is up to you that at what age you feel like you should start investing in Term insurance for senior citizens in India.

Q8. Are some consequences that can occur after buying one of the Top term insurance for 70-year-old India in India?

Ans. There are no such consequences of buying one of the top term insurance for 70-year-old in India. You do not need to fear anything, and for more clarification about any specific term insurance for 70 years old you can check out the website of the company you want to buy 70-year-old term insurance from.