The mind is normally filled with doubts of whether you have made the right investment, particularly if the investment involves a long-term product such as insurance. The life insurance policy is recommended highly because it is concerned with covering the risks associated with loss of life.Considering the contract is long-term, it is normally difficult to amend or change the contract during the term of the policy. Therefore, it is advisable to spend some time researching the products to avoid regretting later. The factors to consider when choosing an insurance policy include:· Need-based investmentAs a rule, the life insurance cover should be 8-10 times the annual income of an individual so that the beneficiaries are not affected negatively if something happens to the policy holder. It is important to consider any pre-existing medical complications when choosing the term insurance for senior citizens.The financial portfolio should be need-based and well balanced. For example, if you are looking for an opportunity to build up a corpus for the grand children’s education you can consider choosing from several companies to ensure the funds planned for the grand children’s education is available whether or not you will be around or not.It is important to understand that life insurance offers protection and serves as an important savings and investment tool. The insurance shopper will need to define their needs like the grand children’s education, hospital bills or funeral costs- therefore, buy an insurance policy that will be in a place to meet this requirement in future.· Background checkOnce you have made the decision to buy the term insurance for senior citizens it is important to perform a company’s background check. Insurance service providers have on their websites comprehensive disclosures giving all the required information. Some of the things to look out for include the policy structure, scope of network, customer service capabilities and online platform (in case you plan to buy the policy online).There are many websites that help insurance shoppers to compare various policies and premiums. One of the items that shoppers need not worry about is the company’s financial health. The sector is regulated highly Therefore, all service providers have to maintain the recommended solvency ratio so that the customers do not suffer.The most important features of the seniors term insurance policy is its ability to provide living benefits. This kind of policies have helped people to receive compensation a situation that did not happen with the traditional life insurance covers. This ensures the policy holder and his/her beneficiaries are well protected in case of any potential surprises.