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Can A Nominee Claim From More Than One Term Life Insurance Policy?

Published On May 15, 2021

People purchase more than one term life insurance policies for several reasons. It might be because they want to ensure there is no claim rejection taking place or maybe they want to divide and invest their assets.

It is also completely legal to have multiple term life insurance policies. Regardless of the reason, it is possible for a nominee to claim from more than one term life insurance policy. 

Can a Nominee Claim from More Than One Term Life Insurance Policy?

Yes, it is possible. Just as an individual can purchase multiple life insurance policies, a nominee too can claim from more than one policy. All term life insurance plans by a single person will be equally revered. If there aren't any of the usual barriers that disqualify the claim, a nominee can get them from more than one term life insurance policies. 

Sum Assured of Different Term Plans Should Not Exceed Human Life Value (HLV)

The human life value of an individual is based on several factors like their income, property, savings etc. This comes into play when the insurance company asks for an undertaking during the risk assessment calculation. Health risks as well as financial risks are considered during this process. Based on them, the HLV of the applicant is calculated and subsequently, their term life insurance policy, issued. If a person wants to opt for multiple term life insurance policies, they must ensure that the sum assured from all the policies is not more than their HLV amount. 

It is Important To Maintain Transparency Regarding All Term Life Insurance Policies

When going to apply for a new term life insurance policy, one must always disclose all relevant information about their existing term life insurance policies. When the nominee goes to claim a benefit, several assessments are carried out. Undisclosed information about other term life insurance policies can be termed as intentional misinformation which can then lead to claim rejection. Therefore, the policyholder, regardless of how many policies they have undertaken, must disclose all information at all stages to avoid confusion later on. 


Neither the policyholder nor the nominees should worry about not being able to claim from more than one term life insurance policy. It is legal as well as a common occurrence. As long as all information is transparent and correct, there should be no claim rejections coming your way. 

Also read 

8 Major Death Cases Which Are Not Covered In Term Life Insurance

How Much Term Life Insurance Cover Do I Need?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.        

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