Should You Split Your Term Insurance Cover?

Outlook Money

What Is Split Term Insurance?

When buying a life policy, you can get the life coverage through a single policy or split it into two or more policies. 


If the insured gets life coverage from different insurers and if one of them has allowed a claim, other companies usually don't deny it.

Enhance Cover Size

Your old life policy may not be sufficient to provide you with adequate coverage, so you can buy another one to enhance the cover size.

Optimise & Save

If you don’t need a big-sized life cover, you can split the policy into two to help you save on premiums.

Extra Financial Cushion

You can buy more than one term policy for extra financial cushioning to make life easier for the family in case you die suddenly.

Compiled By Himani Verma

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