What are the Term Insurance Age Limits?

Is there a right age to buy term insurance?

Most people think about it only after starting a family or nearing 40. The truth? Your age plays a major role in how much you pay for term insurance. The good news? Recent surveys indicate that the average age of first-time life insurance buyers in India has dropped from 33 to 28.

For us at Ditto, this is a positive trend. Why? Because we’ve helped thousands of young professionals lock in better premiums by planning early.

According to a recent survey by Bajaj Allianz Life and NielsenIQ, the average age of first-time life insurance buyers in India has dropped from 33 to 28. That’s a positive trend—because at Ditto, we always recommend buying term insurance early, ideally in your late 20s or early 30s, to lock in lower premiums and better coverage.

If you need help choosing the right policy, feel free to chat with us on WhatsApp or book a call at a convenient time—no spam — just honest insurance advice.

Overview

How does age affect term insurance premiums?

Your age is one of the most significant factors influencing the premium you pay for term insurance. Here's how age impacts your premiums:

1) Younger = Cheaper Premiums

Term insurance premiums are significantly lower when you're young, as you're considered healthier and less risky by insurers.

2) Older = Higher Premiums

As age increases, the risk of health issues and mortality rises, leading insurers to charge higher premiums. However, once you purchase a term insurance plan, the premiums are locked in for the entire tenure.

3) Limited Access to Riders

Some riders, like the critical illness rider, waiver of premium rider, etc, may be unavailable or very expensive as you grow older.

4) Shorter Policy Options for Seniors

Older individuals may find fewer term options or reduced maximum policy durations due to age-based eligibility.

5) Medical Tests Are More Likely

Insurers may mandate medical check-ups for older applicants, which can affect both premiums and approval chances. Additionally, the scope and severity of these tests are also stricter as you age. Buying term insurance early not only ensures better coverage but also helps lock in low premiums for the entire policy term.

Here is a table comparing premiums for different age ranges for your better understanding:

*This premium chart highlights how delaying your term insurance purchase can significantly increase your costs. For the same ₹1 crore cover, premiums rise steeply with age. Even a 5-year delay from 30 to 35 results in a ~27% premium hike. This sharp rise underscores why buying term insurance early is the smart choice.

** These premiums are only indicative and may not accurately reflect changes made with time, inflation, and lifestyle habits. Moreover, these are 2nd-year premiums, represented without any discounts.  

To summarise,  term insurance premiums increase sharply with age due to higher health risks, limited rider access, and stricter medical tests. Buying early locks in low premiums for the full policy term and ensures better coverage options.

What is the minimum age for term insurance purchase?

The minimum age to purchase a term insurance plan in India is typically 18 years. This is because individuals below 18 (minors) cannot legally sign term insurance contracts—or any other legally binding document.

Term insurance is also meant to replace income, and minors usually do not earn. Insurers use the term insurance age limit to ensure that policyholders have financial dependents or obligations. Buying early helps secure lower premiums and long-term protection.

To wrap it up, the minimum age to buy term insurance is 18, as minors can’t legally enter contracts and typically lack income to insure. Buying early ensures lower premiums and longer coverage.

What is the maximum age for term insurance purchase?

The maximum age for term insurance purchase usually ranges from 60 to 65 years, depending on the insurer. While many insurers cap the term insurance age limit at 60, a few, ike HDFC Life, TATA AIA, and Bajaj Allianz, allow entry up to 65.

However, applicants above 60 may need pre-approval based on medical underwriting. It's advisable to buy earlier, as premiums rise significantly with age and health risks.

To wrap it up, most insurers allow term insurance purchase up to age 60–65, but buying late comes with high premiums and stricter medical checks. Ditto recommends purchasing early, as term plans lose value beyond 60, when major financial responsibilities are usually over.

What is the minimum age limit for term insurance maturity?

There’s no fixed minimum age limit for term insurance maturity — it entirely depends on when you buy the policy and the term you select.

For instance, if you purchase a 5-year plan at 18, it could mature as early as 23. So, while insurers define a term insurance age limit for entry and exit, the minimum maturity age is more flexible and varies with your policy duration.

To summarise, there’s no set minimum age for term insurance maturity—it depends on when you start and the policy term you choose. You could technically mature a plan as early as 23 if you buy it at 18.

What is the maximum age limit for term insurance maturity?

The maximum age limit for term insurance maturity generally ranges from 75 to 85 years, though some insurers extend coverage up to 99 or 100 years through whole life term insurance plans. These offer pure protection without any savings element, meaning they provide a death benefit but no maturity benefit.

While most people don’t need coverage beyond 65-70, due to reduced financial responsibilities, these longer tenures exist for those seeking lifelong financial protection within the term insurance age limit framework.

To wrap it up, the maximum term insurance maturity age usually falls between 75 and 85 years, though some plans extend up to 99 or 100. However, most people don’t need such long coverage, as responsibilities typically reduce after 65–70. 

If you’re still unsure about how long your coverage should last or when to buy, don’t worry—help is just a click away.

Talk to Ditto for the Right Term Insurance

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Conclusion

These are the key takeaways to keep in mind when thinking about term insurance age limits:

• Buy Early, Save More: Purchasing term insurance in your 20s or early 30s provides sufficient coverage for your future needs, helps lock in low premiums, and ensures access to valuable riders.
• Know the Limits: Most insurers offer term plans from age 18 to 60–65, with maturity options up to 85 years (or even 99 with whole life term plans).
• Don’t Delay Beyond 65: After 60–65, your financial liabilities typically reduce, and alternatives to term plans are less cost-effective.

Make an informed decision based on your age, income, and future responsibilities — and don’t hesitate to talk to Ditto for personalized advice.

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