Widely read:
Is there any limit to the number of life insurance policies that a single person should buy?
- Rajat Sharma
There is no limit to the number of life insurance policies that a single person can buy in his or her own name. However, insurers seek information on existing policies when offering a fresh policy. This is to ascertain if one has more than necessary cover which could lead to moral hazard. Although there is no direct limit to the number of insurance policies that one can buy, insurers exercise their judgment when they underwrite a policy so that the sum insured is not unreasonably large as compared to the insured’s financial status and earning capacity.
This article was originally published on April 29, 2011.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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