Can a person buy 2 term plans from 2 different companies? Like one from HDFC life and one from LIC ?
Term Life Insurance
Basics of Insurance
13 Feb, 2021
As far as the total sum assured is within the total sum assured you're eligible for, you can technically buy 2 plans.
Having said that, there is no major advantage in trying to diversify your policies.
In fact, it'll mean you'll go through the whole process of buying the policy, customising and documentation twice - plus, your family will go through two separate claims processes as well. If possible, it is best to take one good policy.