This is a conmen question that "Can I take two insurance policies and get claims under both of them?
My simple answer for this question is Yes ( in case of Personal accident policy)
actually insurance policies are 2 type
1. Indemnity cover:- This type of policy cover only actual loss, Auto insurance is an example of indemnity insurance cover, suppose you get 4 indemnity cover on your motorcycle which insured cost is INR 35000 and you lost your motorcycle in an accident then what happen " can you get INR 35000 from each of insurance company? means total 35000*4= INR 1,40,000 ( and buy a used car)
Answer of above situation is no and it is illegal to buy multiple indemnity cover without inform insurance company.
So where you seek actual loss and you have multiple policies which total sum assured is over your actual loss then loss shall be shared by all companies ( which policies you hold).
2. Personal accident policy:- These policies not depend on actual loss, where a fixed compensation paid and no matter what the actual loss are then you may buy more then one policy and claim all of them in case of any unforeseen event. your nominee will get all of sum assured.
For example:- You may buy these policies together
LIC Jeevan Saraal
Aegon Relicare term insurance
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
etc.
