Buying a term plan that covers you till age 99 may sound like a smart move—after all, you’re bound to die eventually, right? But here’s the catch: most people don’t realise how inefficient these plans are. At Ditto, we’ve seen hundreds of buyers consider expensive whole-life variants without understanding that term insurance is meant for income protection, not guaranteed payouts.
In this guide, we’ll break down what whole life term plans really are, when (if ever) they make sense, and which plans offer this option so you can avoid a costly mistake and buy insurance the smart way.
What Is a Whole Life Term Plan?
A term plan with 99 years (also called a whole-life term plan) is a type of term insurance where the cover lasts until you turn 99 or 100.
In simple terms:
If you buy the policy at age 30, the insurer guarantees coverage all the way till age 99. You don’t have to reapply or renew later. As long as you pay premiums during your chosen payment term, the policy stays active until you pass away or reach 99 whichever comes first.
Should You Buy a 99-Year Term Plan?
In most cases, no.
While it sounds reassuring to be covered till age 99, these plans are significantly more expensive than regular term plans. For example,
Annual Premiums — ICICI Prudential Iprotect Smart Plus, ₹1 Crore cover
For a 30-year-old, healthy, non-smoker male, without discounts-
| Policy End Age | Policy Term | Annual Premium (₹) | % Increase over Age 60 |
|---|---|---|---|
| 60 | 30 years | ₹12,683 | - |
| 65 | 35 years | ₹14,343 | 0.131 |
| 70 | 40 years | ₹15,303 | 0.207 |
| 75 | 45 years | ₹17,744 | 0.399 |
| 80 | 50 years | ₹18,040 | 0.421 |
| 85 | 55 years | ₹22,065 | 0.739 |
| 99 | 59 years | ₹34,015 | 1.681 |
More importantly, term insurance is meant to protect your dependents, not to leave behind a legacy. By the time you’re 60 or retired, your children are likely independent and you’ve hopefully built a retirement corpus. At 99, you're more likely to be the dependent, not the provider.
Some may argue it's a way to leave wealth behind. But by then, even a high cover like ₹1 Cr won’t be worth much—inflation will have eroded its real value. You’re better off investing the premium difference elsewhere today.
It’s easy to get lost comparing policies, riders, and premiums. Instead of spending hours on it, why not get personalised insurance advice from Ditto? We offer free consultations with zero spam! Just 30 minutes to clarify all your doubts. Book a free call now!
| Pro Tip: Instead of paying high premiums to extend life insurance beyond age 70, choose a higher sum assured earlier in life. Your family’s financial needs like loans, education, and living expenses—are most significant in your 30s to 50s. A larger cover during these years offers stronger protection and better value. Extending coverage into your 80s and 90s often brings steep costs with limited benefits. Focus on maximizing coverage when your dependents need it most to ensure absolute financial security. |
Is there any scenario where a whole life term plan makes sense?
Only if you have a lifelong dependent and opt for a large enough cover (₹5–10 Cr+) that stays meaningful decades later.
Why?
If you have a dependent, like a special needs child who will never be financially independent, then a 99-year term plan ensures there’s a guaranteed payout, no matter when you die. But the payout must still hold value decades from now.
For example, a ₹10 Cr cover bought at age 30 would be worth only around ₹72 lakh in today’s terms by the time you’re 99 (assuming 6% inflation). So unless you choose a large sum assured, the benefit could feel negligible when it’s finally paid out.
Some HNIs also consider these plans for estate planning—but unless the cover is exceptionally large, we've rarely seen this play out meaningfully in real life. A trust or investment route usually works better.
| Want to Leave Wealth Behind? Here's a Better Way Instead of relying on a whole life term plan, focus on retirement planning through long-term investments. Mutual funds, fixed deposits, real estate, or even a dedicated trust can help you build wealth that grows with time, retains real value, and gives you full control without locking money into expensive insurance. |
Why Do Insurers Still Sell Whole Life Term Plans?
Because they sound good, but aren’t always good for you.
Many buyers assume, “I’ll definitely die someday, so I’ll definitely get something out of this plan.” That logic makes it easy to sell. But what they miss is that these plans are expensive and inefficient and you often end up paying far more than the real value your family receives.
Insurers, on the other hand, can price the risk accurately, invest the premiums, and still make a profit. So as long as customers keep buying, they’ll keep offering it.
Does every plan offer coverage till 99 years?
No, most term plans do not. Only a few insurers offer coverage till age 99 or 100—what’s called a “whole-life” variant. The majority cap covers up to age 85 years.
For example:
- Axis Max Life Smart Term Plan Plus (Regular Variant) & HDFC Life Click 2 Protect Supreme – Ends at age 85.
Best Whole Life Term Plans 2025
As we've already explained, buying a term plan till 99 is usually a suboptimal choice. Once you decide to go down that route, you're already compromising on value.
But if you’re still set on it, here are the top 3 plans we’d recommend.
- Bajaj Allianz E-touch II
Offers a “Whole Life – till age 99” option with the premium payment term till age 60. - ICICI Pru iProtect Smart Plus
Offers a “Whole Life – till age 99” option and has all premium payment term options, including regular. - Tata AIA Sampoorna Raksha Promise
Includes a whole-life option up to 100 years of age. Backed by a strong brand and decent features.
Conclusion
A 99-year term plan rarely makes financial sense. It's costly, inefficient, and usually misaligned with why term insurance exists in the first place. If you have a lifelong dependent and can afford a large cover, it's worth considering. Otherwise, you're better off building wealth through investments.Not sure what term length works for you? Chat with a Ditto advisor and we’ll help you figure it out. Want to go deeper? Read our complete guide to the best term plans of 2025.
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