9 Replies to “Whether an Individual can take two Term policies from different Insurance company ?”




  1. As long as the total amount of the death benefit is not excessive there is no issue with having two term policies from different companies. Understand that for the same death benefit you will pay more when you have two policies.



  2. It’s not the number of policies…it’s the total amount of insurance. Normally, since each policy is going to have a policy fee you’re better off with one policy.


  3. You can have multiple life insurance policies. Keep in mind, it’s important to disclose your other policies in-force when you fill out your application. If you do not disclose the other policies the company could potentially deny a claim based on a material misrepresentation. The company could say that they would not have approved your application if they knew you already had ‘x’ amount of life insurance in-force.


  4. Insurance is an EXPENSE, not an INVESTMENT. Taking more insurance will not make you rich. Insurance is only a loss reducing avenue. Yes you can take 2 or 3 policies. As long as you can afford to pay the premium regularly , you can take as many as you want. Please restrict the cover to 8-10 times your annual income. For INVESTMENT, go for a combination of PPF/ SIP in MUTUAL FUNDS / DIRECT EQUITY .


  5. yes you can take two term policies from diffrent compny but you have to inform both company otherwise both company cancled the claim at the time of claim.if he found that you take two policies for same customer for same case.





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