Could you kindly clarify me, if a person have more than a policy say 2 term plan as said in this article and 2 other policy in e.g LIC is he on his natural/accident death is all four policy will be paid to him? because if not then what is use in having more policy? - Kannan
Re: Regarding Claim paid for a person having more than a policy
by ashu sharma on Sep 29, 2011 03:20 PM
in case of death of the insured person, sum insured for each and every policy will be paid individually, irrespective of the no. of policies
Re: Regarding Claim paid for a person having more than a policy
by ANAND B on Sep 29, 2011 03:45 PM
Human life has no fixed value. Sum Insured under all term insurance policies will be paid out. THats why when taking the second policy, for example, they ask for existing insurance coverage. If the existing cover is deemed enough then the second policy wont be issued.
