back arrow Back

Can I buy 2 term plans from 2 cos.?

reply Share
13 Feb, 2021 by  Chiranjeev Patadiya

Can a person buy 2 term plans from 2 different companies? Like one from HDFC life and one from LIC ?

like like
Term Life Insurance
Basics of Insurance

2 Answer

13 Feb, 2021
Priyanka Tadipatri

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.


I learnt this from this eBook on term insurance - The Ridiculously Simple Guide To Term Insurance ( Can read in detail about it, if you'd like. :)

like like
icon-comment 1 Comments
icon-reply Reply
14 Feb, 2021
Chiranjeev Patadiya
like like
icon-reply Reply
15 Feb, 2021
We breathe insurance :)

Hello Chiranjeev,

Various Insurers usually use a multiple like 20X, 25X, 30X of your annual income, based on your age, occupation.

If you want to know how much term insurance you should buy - you should check this article: The most effective way to calculate your Term Insurance Cover (

like like
icon-comment 0 Comments
icon-reply Reply

Tired of dealing with call centers!

Get a professional advisor for life!


Rs. 1799


Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2023 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to now 🙂