Term insurance policy premium is directly associated with the risk of the proposer. Elderly people have more risk since they are susceptible to diseases and ageing of the body. A 20 year old person has good many years ahead of him as compared to 60 year old person. So the young person has better probability of survival till the end of the term in comparison with elderly person. This makes the premium for elderly person a bit on the steeper side.Originally Posted by LIC_DO
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