It must be quite a concern for your ageing parents that inflation is taking a toll on their small savings. As the breadwinner for the family, it is very important to ensure the financial security of your family's future.
As your parents age, the cost of living and maintaining health also increases. From physical ailments to growing medical expenses, it is certain that even though they had prepared themselves for the future, their little savings would not cover the final stage of their lives.
*Tax benefit is subject to changes in tax laws.
**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
In this scenario, you can take responsibility and purchase a term insurance plan for your parents.
ICICI offers various term insurance plans for senior citizens. It focuses on supporting the senior citizens of society. Hence, it has structured some specific plans to meet the needs and requirements of senior citizens at affordable premiums.
The most popular plan of ICICI is ICICI PruiProtect Smart. It is the top-selling term insurance plan in the market. With the help of this plan, you can guard yourself and your family's future against unexpected events of life. By adding additional rider like critical illness cover in your base premium, you can make the most out of it. You can also opt for an accidental death cover with the base term plan and ensure financial security for your ageing parent's future.
ICICI PruiProtect Smart provides 4 types of term insurance plans for senior citizens-
ICICI as an insurance company provides different types of protections to meet your different types of needs and requirements. Hence, the insurer will make sure to offer you the best suitable plan. However, on your part, before purchasing a term insurance plan for senior citizen, you must talk to them about their needs and requirements. This will help to determine how much coverage you need to opt for.