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Senior Citizen Plan
Buy all kind of Insurance Plans at a Single PlatformGiving a Protected Life to the one who Protected All
About Senior Citizen Plan?
These are the plans which offer coverage for senior citizens around the age of 60 to 80 years old. These plans are a necessity when one is planning to retire and live on a pension or interest income from savings. There is another type of this kind of plan which only covers the health-related expenses of the senior citizen. These types of plans offer coverage for citizens who are above the age of 60 and gives a certain amount for a pre-determined period which covers most of the expenses of a person at that age which includes their health-related, travel-related etc expenses for which in other circumstances the person would have been dependent on their children for money.
Why buy a Senior Citizen Plan?
When a person dies and the policyholder has got this kind of plan irrespective of whether it had matured or not, pays a certain amount of money to the spouse at regular periods so that the person has money on their expenses including medical expenses till the time of their death. If someone decides to work in some way or form post their retirement, this kind of plan helps in covering the amount which they were earning before the retirement so that the person could still be able to do his/her regular expenses without having to put a dent on their savings.
Benefits of a Senior Citizen Plan
Benefits
How to Select the Best Senior Citizen Plan
The senior citizen plan starts at a particular age. Some start at 60 while another start at 65. So it is important for someone to determine, what age would be the most suitable to them for the plan to start.
One needs to select the policy renewal option at the time of choosing the plan so that if he exceeds the age till which the plan was for they could get the money from it.
Depending on the monthly expenses of a person, he/she should determine the amount which he would have paid before the age so that the monetary benefits they are earning is sufficient for them.
