Life Insurance for Seniors Over 85

Life insurance is an investment vehicle widely embraced by Indians for building a long-term corpus and life risk cover. However, when it comes to life insurance for senior citizens, you may express disbelief, more so for seniors over 85. With the growing Indian life expectancy, seniors are very much within the ambit of insurers with tailored policies for them. On the other hand, the super seniors over 85 have limited plans due to their advanced age but are well protected financially.

Read more
Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers
+Tax benefit is subject to changes in tax laws. +Standard T&C Apply
++ Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
Save more with upto 10% discount
Covers COVID-19
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use

Why Do Seniors Over 85 Need Life Insurance?

Your family elders may have left the best years of their active life behind, but that does not dilute their need for financial independence and peace of mind. Suitable life insurance policy is the proper protection shield that reassures the seniors over 85 that they are still protected and not a burden on the family. However, a tailored plan for seniors over 85 is reassuring for the family, should any misfortune strike them. 

Types of Life Insurance for Seniors Over 85

The life insurance plans devised for seniors over 85 hold their interests supreme. Accordingly, two plans are eminently suitable to match their requirements from among the many in the insurer’s portfolio. However, the term plan and whole life insurance plans for seniors over 85 need a closer look. 

  • Term Insurance: You get a pure life insurance cover for a specific period under the plan. The cover ends with the contracted term’s expiry if not renewed on time. Term Life Insurance plans are known for their high coverage at affordable premium rates.  In addition, the beneficiary is paid the sum assured a  death benefit upon the policyholder’s demise to protect the family financially amidst adversity. 

  • Whole Life Insurance: A comprehensive life insurance for financial protection until the policyholder’s survival without any bar on age. However, the whole life policy is priced higher than others for its inbuilt savings element. In addition, the absence of a fixed term for the policy is eminently suitable to seniors over 85, additionally laced with other features. 

Additional Life Insurance for Senior Citizens Over 85

Retirement plans are specifically designed to support senior citizens after superannuation when the steady income flow dries up. The retirement corpus is assiduously built up during the active professional life for purchasing an annuity. Annuity plans offered by the insurers provide the necessary income stream to the senior citizen throughout their life. In addition, the spouse is covered with the income stream after the annuitant’s demise till she survives. 

Benefits of Life Insurance for Seniors Over 85

The senior citizen life insurance plans come with many benefits, apart from financial security. Let us check them out:

  • It is a financial umbrella designed for peace of mind in the twilight years.

  • The life insurance plans cover the elderly paying for their various needs, including health.

  • The coverage and annuity income stream covers the elderly until they survive without any age restrictions.

  • The annuity plans help the elderly leave a legacy for their descendants. 

In Conclusion 

Contrary to the general perception, life insurance for seniors over 85 is a reality. Considering the growing life expectancy, insurers have designed plans especially suited to the elderly over 85. The life risk coverage and steady income stream through the purchased annuity for financial independence and security extends to their lifetime.


  • Is life insurance for seniors over 85 eligible for tax deductions?

    A: Life insurance premium is tax-exempt, and the quantified tax savings are higher for senior citizens over 80 who pay income tax at a lower rate. 
  • How much is the maturity benefit in Term Insurance for seniors over 85?

    A:  Term insurance does not provide any maturity benefits and is considered a pure risk product.
  • What is the renewal frequency of term life insurance for seniors over 85?

    A: Usually, the insurance policy is renewed annually before the current policy’s term expires.

Types of Term Plans

Life insurance articles

Recent Articles
Popular Articles
Post Office Gram Suraksha Scheme Calculator

27 Jun 2022

A Post Office Gram Suraksha Scheme calculator is a useful online...
Read more
What happens if you stop paying life insurance premiums?

03 Jun 2022

Buying the best life insurance plan is a wise and learned...
Read more
Postal life Insurance Tax Benefits

26 May 2022

Postal Life Insurance is the oldest life insurer in the country...
Read more
How to Download PLI Statement Online?

24 May 2022

PLI or Postal Life Insurance was an initiative originally...
Read more
Is Life Insurance an Investment?

24 May 2022

The thumb rule to building wealth is to invest your money in...
Read more
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However...
Read more
How to Cancel SBI Life Insurance Policy?
As per the Insurance Regulatory and Development Authority, you can cancel a life insurance policy taken within 15...
Read more
SBI Life Insurance 50,000 per year Plan for 5 Years
Life insurance is not only about the financial protection of the family but also about working for life’s...
Read more
Surrender Value in Insurance
Have you bought a life insurance policy which is not as per your requirement? Are you planning to terminate the...
Read more
Post Office Gram Suraksha Scheme Calculator
A Post Office Gram Suraksha Scheme calculator is a useful online tool that can be accessed free of cost. It helps...
Read more

View Plans
Download the Policybazaar app
to manage all your insurance needs.