I read somewhere that one cannot have more than two life insurance policies. Is there any limit to the number of life insurance policies one can buy?
Karthik Sharma, Ranchi
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. Now-a-days the insurers ask for the income proof of the proposer while underwriting a life. They also look into the existing policies and other financial commitments of the proposer to ascertain his premium paying capacity. 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.
