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Term Insurance - Settlement of Claim

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30 Dec, 2021 by  Bhuvan Ahuja

Hello Mahavir Ji, If a person has taken two or more term insurance and communications to company is not made about other insurance products. Can the communications be made now and avoid the chance of not honoring or settlement the claim filed later by family.

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Term Life Insurance

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30 Dec, 2021

Hello Bhuvan,


Insurance companies do ask for information regarding existing policies/applications in their application form. This helps them assess how much cover are you eligible for, beyond your existing coverage. This is a crucial information as far as underwriting is concerned.


While I believe insurance companies have access to this information (about existing sum insured) through IRDAI, when they are underwriting applications, it's always a good practice to keep your insurer informed about having such covers. You could simply write an "for your information' email to your insurers official email address (available on their website). Try to get and store any kind of acknowledgement for this communication. Ensure you family is aware of this communication too.


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