Are there any Age Limits for Buying a Term Policy?
Most of the insurance companies restrict the maximum entry age to buy a term insurance policy to 65 years. This is due the general practice that most of the people retire at the age band 60-65 and also would be free from all the financial obligations and liabilities, hence there would be no need to have a term insurance policy. The minimum entry age for a term insurance policy is 18 years while the maximum entry age is 65 years. Once the term policy is taken the term can be chosen by the proposer, the younger the proposer higher the term period...Read More