How many life insurance policies one can take?
Sanghamitra Dasgupta, Kolkata
There is no limit on the number of life insurance policies that one can buy. One can opt for as many policies as one can afford to support. However, insurers ask for the income proof of those whose life is to be insured while offering a policy. They also look into the existing policies and other financial commitments of the proposer to ascertain the premium paying capacity of the prospective policyholder. Insurers issue the policy only after assuring themselves of the continuity of the policy. But, once insured all the policies will pay in the event of death of the insured. Also, if the life assured survives the policy term, the maturity claim would be settled as per the respective terms and conditions.
