I am planning to buy a term insurance cover for Rs. 50 lakhs. I wish to split the amount among two insurance providers ? HDFC Standard Life and Aegon Religare. Is it possible to take term plan with such kind of arrangement and will there be any negative impact on each other?
Yes, it is possible. You can split your term insurance purchases among as many insurance providers as you want to. In case, one fails to deliver your claim on time, you have the chance of getting it from other. There will be no negative impact of one on other.