Term insurance comes with its set of rules and regulations, one of which is the age at which individuals can enrol in an insurance plan. There are both minimum and maximum age requirements that potential policyholders must meet.

The minimum age limit for term life insurance is 18 years. On the other hand, the upper age limit for obtaining a term insurance plan is set at 65 years. However, the term insurance age limit is not one-size-fits-all. Term life insurance age limit varies from plan to plan and usually falls within the range of 18 to 65 years. Some term insurance policies, such as senior citizen term insurance, may also extend their coverage beyond age 65.

What is the age limit for term insurance?

Term insurance age limit refers to the age within which you can buy a term insurance plan for yourself.

Term Insurance in your 20s

Term insurance can provide many useful benefits in your 20s. During your 20s, you are likely to finish college and begin your career. You may have taken a hefty loan for your education. Term insurance can help cover such loans in your absence, without burdening your family with it.

Term insurance in your 30s

In your 30s, you are likely to be married, have children, or buy a house. Your responsibilities increase manifold and your family members, like children, could be financially dependent on you for their survival. A term insurance plan can help you offer a more secure financial life to your family in your 30s. Term insurance in this stage ensures that your children and spouse are not burdened with any financial restrictions in your absence.

Term insurance in your 40s

By this time, there is a good chance that your children would be heading for higher education. This may require a substantial amount. The cost of education is rising around the world and professional courses or studying abroad may require a large lump sum amount. A term insurance plan can help your children meet their education goals even in your absence. However, a term insurance plan can help them meet their education related costs.

Term insurance above 50s

Health can be a major cause of concern in your 50s. This is also a time when your children are learning to be financially independent and might require your support from time to time, thereby adding to your total expenditure. Fortunately, a term insurance plan with a rider like critical illness# protection can provide you with a financial cover against critical illnesses.

Why should you buy a term plan at an early age?

You can buy a term insurance plan much later in life too. However, the benefits of purchasing it sooner can be substantial. Here are some reasons why you should buy a term plan at an early age:

  • Flexibility

    Buying a term plan at an early age provides you with protection against several eventualities and the flexibility to change your term plan as and when required by adding riders, increasing your sum assured, and other features
  • Low premiums

    The premiums for term insurance increase with age. Since the chances of falling sick are low when you are young and tend to increase as you age, you are considered a low-risk candidate by the insurance company in your 20s or 30s. As a result, you can buy a high sum assured at a comparatively low premium. For instance, the ICICI Pru iProtect Smart Plan offers a high life cover` at an affordable premium. The plan also offers additional riders such as critical illness# rider (optional), accidental death benefit^ rider (optional), waiver of premium in case of permanent disability^^ and terminal illness## at nominal costs and a life cover till the age of 99, among other things
  • High sum assured

    Investing in term insurance from a young age will enable you to opt for a significantly higher sum assured. One of the most substantial benefits of purchasing term insurance early is that premiums tend to be considerably lower when you are younger. This helps you get higher coverage at a relatively affordable cost.
  • Financial stability

    Life is inherently uncertain, and unexpected events can disrupt your financial plans. Investing in a term insurance plan early on creates a safety net for your family. This ensures they are not burdened with financial hardships if you are no longer there to provide for them.
  • Financial discipline

    Term insurance is a long-term commitment. Buying it early on helps you establish financial discipline. It instils a habit of financial consistency as you pay regular premium payments. This further enables you to save and manage your finances.


Term insurance is a vital financial tool that offers protection for your loved ones in the event of your untimely demise. However, as you approach the age of 65, the range of available plans may narrow down. Many term insurance policies also include an age limit of 65 years. Therefore, purchasing term insurance earlier in life is generally a wise decision.



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~ The ICICI Pru iProtect Smart can be purchased by an individual aged between 18-65. However, the final issuance will be subjected to the product terms and conditions and underwriting guidelines.

` Life cover is the benefit payable on the death of the Life Assured during the policy term.

# Accelerated Critical Illness Benefit (ACI Benefit) is optional and available under Life & Health and All in One options. This benefit is payable, on first occurrence of any of the 34 illnesses covered. Medical documents confirming diagnosis of critical illness needs to be submitted. The benefit is payable only on the fulfillment of the definition of the diagnosed critical illness. The ACI Benefit, is accelerated and not an additional benefit which means the policy will continue with the Death Benefit reduced by the extent of the ACI Benefit paid. The future premiums payable under the policy will reduce proportionately. If ACI Benefit paid is equal to the Death Benefit, the policy will terminate on payment of the ACI Benefit. To know more in detail about ACI Benefit, terms & conditions governing it, kindly refer to sales brochure. ACI Benefit term would be equal to policy term or 30 years or (75-Age at entry), whichever is lower.

^ Accidental Death benefit (ADB) is up to ₹ 2 crores (subjected to underwriting guidelines). ADB is available in Life Plus and All in One options. In case of death due to an accident Accidental Death Benefit will be paid out in addition to Death Benefit. Accidental Death Benefit will be equal to the policy term or (80-Age at entry), whichever is lower.

^^ On diagnosis of Permanent Disability (PD) due to an accident, the future premiums under your policy for all benefits are waived. To know more about definitions, terms & conditions applicable for permanent disability due to accident, kindly refer sales brochure of ICICI Pru iProtect Smart.

## A Life Assured shall be regarded as Terminally Ill only if that Life Assured is diagnosed as suffering from a condition which, in the opinion of two independent medical practitioners’ specializing in treatment of such illness, is highly likely to lead to death within 6 months. The terminal illness must be diagnosed and confirmed by medical practitioners’ registered with the Indian Medical Association and approved by the Company. The Company reserves the right for independent assessment.

ICICI Pru iProtect Smart UIN (A Non-Linked Non-Par Life Individual pure risk premium product).

ADVT: W/II/0033/2022-23.

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