Hi Narendra, Private financial institutions in India offer term insurance policies at an affordable cost. You can check with the issuing company about the age-limit criteria.

On the death of the insured member, the sum assured is usually payable in most cases. An acquaintance of mine has opted for Bajaj Finserv Lending term insurance which provides coverage on death, with no maturity value at the end of the term. There's also a surrender benefit that you can avail of.

FG

Short term insurance plans are offered by a few insurance service providers in India. Most have their own eligibility criteria and corresponding features for insurance benefits. Bajaj Aliianz is one such term insurance plan provider that I'd recommend you to get in touch since a colleague of mine recently purchased one for himself.