Planning for the future takes a different route in your retirement years. Paychecks may not be there but responsibilities are. Parents keep worrying, thinking, “What will happen to my family if something happens to me?” That’s exactly where term insurance has your back. Term insurance for parents not just covers risks but also makes sure your family continues to stay financially stable after you. Also, a reliable term insurance plan makes it easy to cope with the rising medical costs.

The good news is that today, in 2025, many insurance providers in India are offering specially designed, simpler and smarter term insurance plans for senior citizens. Wondering which ones are worth considering? Let’s look at the top plans!

What Is Term Insurance for Senior Citizens?

It’s an insurance policy that provides the necessary financial protection to your family if unfortunately, something happens to you during the policy period. It doesn’t offer any returns or bonuses. Instead, it ensures your loved ones get a fixed payout in case you are no more.

Now, the term insurance for senior citizens has the same concept but just a few changes:

• The eligibility age in some plans is now up to 70–75 years.
• It’s usually mandatory to get the medical check-ups.
• The increased age and health risks make the premium higher.

At the end, the primary goal is to provide peace of mind that your dependents won’t face financial struggles after you.

Why Should Seniors Consider Term Insurance?

If you think insurance is only for the young, it’s not true. In real life, there are many responsibilities even after 60. You might have family members who are totally dependent on you, there may be unpaid loans or you simply want to leave behind a financial safety.

Buying term insurance for parents or senior citizens makes a lot of sense because:

1. Protecting the Dependents– The payout amount can be used by your spouse, children, or even grandchildren to manage their regular living expenses.
2. Debt Coverage– If you have any home or personal loans going on, the insurance would really help your family in paying the EMIs.
3. Legacy Planning– A term plan is a wonderful way to leave financial support for your loved ones when you’re no longer around.
4. Peace of Mind– The fact that your family won’t face sudden financial issues lets you peacefully enjoy the retirement phase.

 

What to Know Before Buying a Term Insurance Plan

Before you finalize a plan, you must have an understanding of how term insurance plans for senior citizens work.

1. Entry Age– Most insurance companies allow the entry of new policyholders up to the age of 65 or 70. In fact, a few extend it to 75.
2. Coverage Period– According to your entry age, some plans ensure coverage up to 80, 90, or even 100 years.
3. Medical Tests– You can always expect to get complete health checkups because it’s extremely important to be transparent about your medical history.
4. Premiums– What you pay will certainly be higher than that for younger applicants. However, the peace of mind it offers is worth it.
5. Claim Settlement Ratio–It’s highly recommended to choose a company that is well-known for fast and reliable claim settlements.

 

Top Term Insurance Plans for Senior Citizens in 2025

As of 2025, here are some of the most trusted term insurance plans for senior citizens in India:

1. Tata AIA Sampoorna Raksha Supreme

This wonderful plan provides life cover up to the age of 100 years, along with flexible payout options. Whether you want to give your nominee a lump sum, a regular income or even both, it’s totally up to you. The solid claim settlement record of the company makes it a strong pick for seniors.

2. ICICI Prudential iProtect Smart

Allowing coverage up to 85 years of age, it also includes adding optional riders like critical illness and accidental death benefit. ICICI also runs online discounts for non-smokers and women applicants so do explore them.

3. HDFC Life Click 2 Protect Super

It is a very popular option for older buyers. This plan from HDFC offers multiple benefit options. There is “Life Protect” (which is the basic term plan) and “Income Plus” (which combines both lump sum & monthly income payouts).

4. Kotak e-Term Plan

This digital term plan from Kotak Life covers individuals up to the age of 75 years. You can rely on it for affordable premiums and an easy online purchase. Also, the documentation is quite minimal.

5. PNB MetLife Mera Term Plan Plus

The senior citizens who want flexibility can totally go with this plan. In this, you can either pick a life cover up to 99 years or even a shorter policy term as per your needs. Moreover, the company also offers joint-life options for couples so you can consider them.

6. SBI Life eShield Next

SBI, one of the most trusted names in insurance, offers this term plan that covers you till you’re 85 years old. Its flexible premium payment terms and add on for critical illnesses make it so popular.

You can trust these insurers for their good claim settlement history. They even offer online tools to quickly calculate the premium amount. However, before you go on with a plan, do pay attention to the eligibility criteria and your current health conditions.

Choosing the Right Term Insurance Plan

Comparing different options might confuse you. Here is how you can pick the most suitable term insurance plan:

Start with Your Age & Health: Since your eligibility & premium heavily depend on these two factors, you must get a full medical checkup before applying.

Decide the Coverage Amount: The payout has to be enough to cover the needs, debts and other expenses of your dependents.

Compare Premiums Online: Go to trusted websites to get quotes so you can compare and see which policy fits your budget the best.

Check Payout Options: Would your family prefer a one-time lump sum or a regular monthly income after you? This needs to be decided before.

Check Claim History: It’s better to choose an insurance company that has a high claim settlement ratio. Ideally, it should be above 95%.

Read the Fine Print: Never forget to carefully check for what’s ‘not’ included, waiting periods and optional riders. 

Tips for Buying Term Insurance for Parents

Keep these points in mind when you are getting term insurance for parents:

• Your parents must be well-involved in the decision. They need to be comfortable with health tests and the plan duration.
• Go for a simple plan that doesn’t have too many riders or investment options.
• If premiums for long coverage are too high, you can always opt for shorter terms.
• The insurance company must have easy claim processes for stress-free filing.
• The nominee details have to be updated correctly.

 

Want lasting protection for their families? Choose term insurance. In 2025, term insurance for senior citizens is a practical tool that protects your dependents, manages liabilities and gives the necessary peace of mind in the later years. The top plans now offer flexible entry ages, longer coverage durations and options for different financial goals. 

Buying any plan is not enough; the right one is. If chosen well, even a small plan can provide financial security. At PolicyWings, we help you pick the best term insurance plan that provides the best care and protection.