Variety is the spice of life. Different variants add different flavor and meaning to every aspect of our life. So either we talk about our food where we use multiple spices or we talk about our wardrobe which contains a dress for every occasion, owning multiple variants is always beneficial.
So when it comes to buying insurance, the same principle drives our investments and we buy different policies. Though it is beneficial, do we know what the benefits are? Or do we just consider holding multiple policies an avenue of investment and saving tax?
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C ApplyHaving multiple insurance plans is a very wise move if the decision is backed by the right reasons. So let’s see what the underlying benefits are:
The more the merrier is the baseline when it comes to insurance. Owning multiple plans is very beneficial so you should not shy away from investing in more than one insurance plan. If your pocket poses a constraint, build your portfolio slowly but surely and enjoy the benefits or a comprehensive coverage, lower premiums, fulfillment of financial goals and a complete insurance portfolio.