How much insurance can be claimed.

POSTED BY Pradeep Sharma ON April 10, 2013 10:23 am COMMENTS (4)


I want to ask a question regarding the insurnace I have taken. Suppose I have taken multiple insurnace from multiple companies, and I also inform about all the in force policies to insurance company. So How much insurance can be claimed.

For example : Insurance policy with company A with sum assuraed 50 Lac, Insurance policy with company B with Sum Assured 25 Lac, Insurance policy with Company C with sum assured 10L.

So How much insurance can be claimed. is there any formula/way to calculate the total insurance can be claimed… Is it related to average monthly income with average year of person.


4 replies on this article “How much insurance can be claimed.”

  1. Dear Pradeep, from your stated example, as all the 3 policies are in force, the total 85L Rs. sum assured can be claimed. As simple as that.

    The restriction is there for accident rider sum assured attached with policies. Normally it’s 50L Rs. for LIC policies.



  2. There is a limit to how much a person can be insured for i the first place. So if you have policy A for 50 lakhs and want another policy for 1 Cr from company B, you will need to intimate company B about policy A. They will evaluate your income get additional information from your as to why you need 1 Cr and then decide whether to insure you for 1 Cr or less.

    once B insures you for sum X

    then you (meaning your nominee) can claim the entire amount.

    Life insurance does not work like medical insurance!

    1. Pradeep Sharma says:

      I already mentioned in my last post that I already informed about all the policies to all company. my question is how much (max) can be claimed….????

      “can claim the entire amount.” entire means sum assured of all the policies or limited sum assured.

      Is there is any way to calculate this …. ??


      1. There is nothing for YOU to calculate. If the policies have been issued the entire amt can be claimed.
        The calculations would have been done by the insurer BEFORE the policy was issued

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