To buy one life insurance or split in two product with different company ?

POSTED BY hellovs ON May 20, 2014 11:22 pm COMMENTS (2)


I am planning to buy life insurance (term insurance) through online. I am little bit confused whether I should go ahead with one company for 50 Lakh cover or I should go ahead with two companies for 25 Lakh each. Premium is more or less the same in both the companies.

Kindly advice.

2 replies on this article “To buy one life insurance or split in two product with different company ?”

  1. divya.advisor says:

    You can use one company one that you trust most.
    Be truthful in your application. Avoid a company who gives you insurance without medical test. Often people do not realize a medical condition or intentionally hide and get the claim rejected.

  2. sreejeshts says:

    In my opinion you should split in two companies.

    How it helps ?
    – If you hold a single policy and the company does not honour the claim , dependents wont get anything , but if there are 2 parts , then there are less chances that both the companies with not honour the policy .
    – If your liabilities come down or you have less dependents after a couple of years and ultimately you need to bring down your Life insurance cover , you can simply stop one of the policies and continue the other one .
    – It helps in diversifying the risks involved with the Insurance company.

    Courtesy – Manish Chauhan,
    Read more

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