Two Term Insurance Policies: Can Your Family Claim Both?

Two term insurance policies can each pay their own full death benefit if both are active and cover the death. In this example, two policies of fifty lakh rupees each could pay one crore altogether. Declare existing policies when buying another, keep both sets of details accessible to your family, and claim separately with each insurance company. Ask your advisor to help check your total cover, organise the details and guide your family through the claims. Subject to each policy’s terms.