HDFC Term Insurance Plans For Senior Citizens

Term Insurance plan is often considered to be bought when you are younger. It is because of the condition set by society that one must retire by the age of 60-65. Thus, term insurance plans are designed to offer coverage until the policyholder reaches 65 years of age; however, the entire industry has witnessed the change and modified the conventional practices to offer the best protection to senior citizens of the society.

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Since many people wish to continue working after the age of 60, it is quite certain they would require coverage at least for the next 10-15 years. Not to forget, old age is a home for ailments and multiple health issues with expensive treatments. This demands the ultimate financial protection for those who are even older than 60 years.

HDFC offers several types of term insurance plans for senior citizens. This way, in case you are buying a term insurance plan for your ageing parents, you can secure their final phase of life by providing them financial aid. Or, you are someone who wants to leave a legacy behind so that your young dependents can achieve their goals, you can definitely go for term insurance plans which are structured for senior citizens.

Types of HDFC Term Insurance Plans For Senior Citizens

HDFC offers a wide range of term insurance plans for senior citizens which are structured to provide financial security in their final stage of life. 

The need for a term insurance plan for senior citizens arises because of the concern related to their post-retirement expenses.

Followings are the HDFC term insurance plan for senior citizens:

HDFC Term Plan For Senior Citizens

Age Limit

Maturity Age

Policy term

Sum Assured

HDFC Life Click 2 Protect Plus

18 years - 65

28 years – 75 Years

10 years – 40 years

₹ 25 Lakh – No limit

HDFC Life Click 2 Protect 3D Plus

18 years - 65 years

23 years – 85 years

5 years – 50 years

₹ 10 Lakh

HDFC Click 2 Protect Health

18 years – 65 years

23 years – 85 years

5 years – 50 years

₹ 10 Lakh- No limit

  1. HDFC Life Click 2 Protect Plus

    HDFC Life Click 2 protect plus comes with a nominal premium cost. It is structured to guard the future of you and your family against life's uncertainty. Under this plan, you can choose amongst the 4 different cover options based on your needs and requirements. Also, this plan offers flexibility in premium payments.

    HDFC Life Click 2 Protect 3D Plus
    You can find this plan online at a very affordable price. HDFC Life comprehensively structured this plan, to explain further- the "3D" is used in the policy name to address the 3 uncertainties of life which are DEATH, DISEASE, and DISABILITY. This plan comes with a further wide variety of 9 plans which you can choose from as per your needs and requirements.

  2. Click 2 Protect Health

    This plan is popular for providing dual benefit of health and life insurance for senior citizens. To offer this best combination both HDFC Ergo Health Insurance Limited and HDFC Life have joined hands together. Under this plan, it is ensured that the policyholder and the family's health care will always be in check. This plan will always take care of the health-related matters of the policyholder and the family.

Features of HDFC Term Insurance For Senior Citizens

  1. Coverage Scope

    Whether you are 50 years old or 80 years old, you can get protection against life's uncertainty with the help of HDFC term insurance plans which are specifically structured for senior citizens. As you age, you tend to have fewer financial obligations which can make it easier for you to use your savings in buying a term insurance plan. This way you can ensure sufficient cover for you and your dependent spouse/family.

  2. E-Insurance 

    E-Insurance means all the term insurance plans offered by HDFC Life are available for you online. Within a few clicks, you can compare, customize and purchase your best suitable term insurance plan to safeguard the future of your family. By purchasing a term plan online, you can avoid agent visits to your home and save time. After thorough research, you can be more decisive about your cover amount and other necessary needs.

  3. Affordable Premiums

    Almost every single plan provided by HDFC Life comes with the option of flexibility in paying the premium amount. Also, considering the fact that most people who are in their 50s or above would buy 'term insurance plans for senior citizens, the premium amount is affordable.

  4. Additional Riders

    You can make the most out of your basic term insurance plan by adding few additional riders at an affordable price. This can turn out to be very useful for you in the future. Common riders which you can add with any plan are, accidental death rider, waiver of premiums rider, critical illness rider, etc

  5. Flexibility Of Pay-outs

    The best term insurance plan is that which offers the choice of receiving payable benefits to the nominee. Almost every HDFC Life term insurance plan provides the option of either lump-sum payout or regular monthly payout. You can choose from both the options at your convenience 

Benefits of HDFC Term Insurance For Senior Citizens

  1. Tax Benefit

    HDFC Life term insurance plan for senior citizens comes with tax benefit under section 80C of Income tax act 1961.

  2. Medical Expense Coverage- 

    Pre and post hospitalization expenses covered, Provides cover for doctor's fees, medical bills, room charges, in-patient hospitalization expenses, emergency ambulance expenses for transporting the insured shall be borne by the insurance company.

  3. The Hassle-Free Claim Settlement Process

    The wide range of HDFC Life term insurance plans for senior citizens offers a hassle-free claim settlement process. This way, when the time comes, the nominee will not have to suffer from complicated paper works. The hassle-free claim settlement process will help protect the nominee in uncertain times.  

  4. Independence of Spouse

    Buying a term insurance policy as backup financial security for your spouse is a good idea. It can provide a regular source of income for them in your absence. 

  5. Debt-liability Payment

    With the help of the HDFC Life term insurance plan, in case of the policyholder's untimely demise, the nominee can make the payment of pending debts or liabilities. The Sum assured can be used to pay debts/liabilities as per the convenience of the nominee.

Final Word

HDFC Term insurance plan offers a wide variety of policies for senior citizens. IF you are the breadwinner for the family and wish to safeguard the future of your ageing parents, you can choose from the list of plans which best suits your requirements. In case you are 50 years or above you too can buy a health insurance plan to guard your dependent spouse against unfortunate events of life.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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