Term (Life) Insurance as we know is a pure risk cover and is generally expensive for seniors. This is passé if we look at new Bajaj Special Protection Goal policy.
They introduced a new policy wherein seniors (up to 65 years) can get themselves insured till 99 years of age !
Premiums are also quite attractive in terms of cost benefit analysis. This policy proves to be good risk cover till senior age and works as wealth transfer eventually.
Please find illustration of premium paid and returns calculated in case of eventuality at various stages of life during the life of the policy.
Following table is illustration for policy of Rs. One Crore with a coverage up to 85 years, Premium payment for 10 years with different age groups and the returns there on
Kindly feel free to contact us for any query or information on the same.