I have already taken term plan in one insurance company. If I take one more term plan in another company then shall I get benefits from both companies? Kindly clarify.
Ans: Hi Madhukar, yes, you can purchase term policies from different insurance companies within your HLV (Human life value) limits. There is no rule that disallows a person from owning multiple term insurance policies.
However, the premiums of both may differ depending on the underwriting process as per the insurer.