My dear senior readers don’t panic out of FOMO. If you are in your later stage of life and are fearing the covers of risk in life, then you are on the right page.

Let me introduce you to an old age-specific customized life insurance solution known as over 50 life insurance that is being designed specifically for senior citizens aged above 50.

Aspects & covers

Without any hesitation, it is going to cover the life & stand with complete summed financial assistance for any mishap. Now interestingly, it is going to cover you for an indefinite period till you live your last breath. There is no time binding for the expiry for the life cover. 

Acclimatization period

There is a restriction period for the initial 12 to 24 months where you will be assured of the same value as much you have invested in the policy. This period is known as the acclimatization period where The Insurance Surgery company ensures that you & your body have acclimatized to the current scenarios of living conditions. Once you cross the limited time frame, you would be eligible to receive the entire amount promised on maturity for any kind of happenings with life. 

Eligibility Criteria

The most attractive feature of this insurance is the accepted term. Anyone who is above 5., on the day of enrolling into the policy can apply & hopefully will be accepted with pre-existing health scenarios. And that is what is a no-questions-asked onboarding as being advertised by the insurance companies. The annual premium is case-specific and depends on the existing conditions, medical history, sum insured – and all these will vary from induvial to induvial.

Major factors determining the annual premium

Life insurance is purely subject-specific & over 50 life insurance are no exception to that. Still, the major parameters that are taken into consideration n for the calculation of the annual premium of a policy are as follows:

1. Demographic location of the induvial – different zones & different states have different basic premiums
2. The actual age of the particular induvial – here is a rule of the thumb, the older you are, the higher the premiums will be
3. Medical conditions – whether they include general complications like diabetes, hypertension, elevated cholesterol levels, obesity, cardiac complications, renal irregularities. All these will be tested in due course by registered medical practitioners to provide the best information
4. Lifestyle habits – a few are a big no while accepting the policies liked aged induvial affected of health ailments have a lifestyle of chain-smoking & regular alcoholism, etc