1. #1
    Unregistered

    Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    I have insurance policy of LIC and I am planning to take the insurance policy from Reliance company. Can a person have 2 insurance policy from 2 different companies? Do they need to declare their first policy while taking another policy? Is it necessary to get the claim?

  2. #2
    SKS Array
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    Re: Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    YES you should declare this while taking the insurance policy from another company
    In the form, there is a column that asks if the person is having any insurance policy, so you should ddeclare it
    Insurance is based of Principle of Utmost Good Faith

    There is no harm in declaring that, also you should provide the correct information while filling the insurance policy forms

    There is no such rule that you cannot take insurance policy from two companies
    You can take policies from as many companies as you want

  3. #3
    yogesh Array
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    Re: Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    hello friendif you purchase any inurance bond or policy then you shoud give your all legal information related these topicsincome sourceaccount detailpolicies of related insurance etc.because there is very important to declare all information those comes under the financial.as far as i am concern that it will very helpful at maturity time of current policy.for tds,income tax,or other reason then it will to helpful.best of luck

  4. #4
    Chittaranjan Array
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    Smile Re: Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    Dear questioner-no never,you should not declare about your insurance policy you have.it is not mandatory to tell before you go to purchase policies from other insurance company.so why you go to declare about your policies to other insurance advisors.it is your personal matter so should never declare.ok

    Thank you,

  5. #5
    Ashok Array
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    Re: Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    Dear Aspirant,

    I don't think it is needed to declare the details of previous insurance policy.If it is needed to declare the same while filling the application form to take the policy in your choice insurance company,you can disclose the details of the previous policy.It is going to harm you nothing.You can have as many as policies either from a single insurance company or from different insurance companies to reach the insurance amount upto approximately 25.00 crore rupees.

    So take the insurance policy as per your choice & enjoy.


    Thanks.

  6. #6
    G.one Array
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    Re: Should I declare my Insurance policy to other Insurance company while taking their insurance policy


    • Yes, a person having life insurance policy already, can take another life insurance policy of another company.
    • While filling the form, if the details of the previous insurance policy has been asked and if it's compulsory to provide, then you must state the true fact.
    • Generally in insurance other than life insurance it is mandatory to provide the other insurer details, as claim is splitted according to insured amount.
    • You must provide all the details true.
    • These days, everything has become online, so it's easy to track your status.
    • If they found anything wrong information, then may reject your claim.

  7. #7
    vijaybanna Array
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    Re: Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    wpid-1332151853_life-insurance-policy.jpg

    Dear Friend

    Yes you should clearly mention about the insurance policy of the other company while filling the form of other company..

    There is no loss in that.. and there is no rule that you can take Policy from one company only..

    For example : you have a insurance policy of LIC and you want to take insurance policy from ICICI also then there is no harm..

    SO be honest and mention the details without any fear

    ALL THE BEST

  8. #8
    Boss Array
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    Re: Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    Should I declare my Insurance policy to other Insurance company while taking their insurance policy

    Yes you ought to declare this whereas taking the insurance from another company
    within the kind, there's a column that asks if the person has any insurance, therefore you ought to declare it
    Insurance is predicated of Principle of Utmost straightness.

    There's no damage in declaring that, additionally you ought to give the proper info whereas filling the insurance forms.

    There's no such rule that you simply cannot take insurance from 2 corporations.
    You'll take policies from as several corporations as you would like.
    I don't suppose it's required to declare the small print of previous insurance.If it's required to declare identical whereas filling the appliance kind to require the policy in your selection insurance firm,you can disclose the small print of the previous policy.It is aiming to damage you nothing.You can have as several as policies either from one insurance firm or from totally different insurance corporations to achieve the insurance quantity upto around twenty five.00 large integer rupees.

    Therefore take the insurance as per your selection & get pleasure from.
    Yes, someone having life assurance policy already, will take another life assurance policy of another company.
    While filling the shape, if the small print of the previous insurance has been asked and if it's mandatory to supply, then you need to state actuality reality.

    Generally in insurance apart from life assurance it's necessary to supply the opposite underwriter details, as claim is spitted consistent with insured quantity.
    You must give all the small print true.
    These days, everything has become on-line, therefore it is simple to trace your standing.
    If they found something wrong info, then could reject your claim.
    Yes you ought to clearly mention concerning the insurance of different|the opposite} company whereas filling the shape of other company..

    There's no loss therein.. and there's no rule that you simply will take Policy from one company solely..

    If you've got a insurance of LIC and you would like to require insurance from ICICI additionally then there's no damage..

    So be honest and mention the small print with none concern.

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