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Is there any limit to the number of life insurance policies I can buy?

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Is there any limit to the number of life insurance policies I can buy?
OLM Desk - 19 October 2017

Is there any limit to the number of life insurance policies I can buy?

Sameer Arshad, Hyderabad

There is no limit to the number of life insurance policies you can buy. These days, insurers ask for income proof of the proposer. They also look into his/her existing policies and other financial commitments to ascertain the capacity to pay premiums. Insurers issue the policy only after assuring themselves of its continuity. But once insured, all policies will pay in the event of death of the insured. Also, if the assured survives the policy term, the maturity claim, if any, would be settled as per the terms and conditions.

olmdesk@outlookindia.com

How the insurers calculate mortality charges? Do they hike it every year?
What should I do if the policy I received is different from what I opted for?

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