How Much Is Life Insurance For 50 Years Old In India?

It’s not too late (or too expensive) for most people to get life insurance in their 50s. If you’re concerned about the financial security of your partner and children, there are options available that can provide the peace of mind you need.

The average cost of life insurance for 50 year old Male and Female is about Rs.3000 to Rs. 7000 depending on the age, gender, occupation, and health status of the individual.

Once you reach your 50s, your life and your financial priorities often start to look different. While life insurance is a must-have for young families, you might need less coverage or no coverage at all once you reach your 50s. That said, there are plenty of reasons life insurance can make sense at this stage, especially if you’re still working or have dependents.

It can be purchased by those whose children have grown up as well. This can be done for several purposes, including giving an inheritance, establishing a trust upon death, contributing to a charity, or if the older individual is a key employee or partner in a business.Still, many insurance companies only offer term policies for those aged 18-65. But depending on the insurer and type of policy, you can even get coverage initiated as old as age 80. Note, however, that life insurance premiums increase the older you are when you purchase the policy.