Ask Value Research

Should I buy term covers from two companies?

Max Life and HDFC Life offer term plans and both of them have a satisfactory claim settlement ratio

I am a 26-year-old male looking for a ₹1 crore plan for 35 years. Max Life policy is available for ₹6,600 while HDFC Life plan is available for ₹9,232. ₹50 lakh cover is available from them for ₹3,800 and ₹5,400 respectively. Which one should I go for? Should I buy ₹50 lakh cover from both?
- Abhinandan

Max Life and HDFC Life offer term plans and both of them have a satisfactory claim settlement ratios. You can diversify your life insurance cover across two players and buy ₹50 lakh cover from both of them.

This article was originally published on December 09, 2015.

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