Death Claim from Insurance

[M K Bajaj]

Hello,

If a person has taken taken 'Accident Policy' from both National Insurance and Life Insurance Corporation, will he be eligible to get claim after death.

Please Help.

[YAGAY andSUN]

As per Insurance laws and IRDA guideline, duel benefits can't be fetched for single event by taking two insurance policies.

AI Summary

Double recovery prohibition: beneficiaries cannot obtain duplicate payouts from multiple insurance policies for the same death. Dual benefits for a single insured event are not permissible under applicable insurance law and regulatory guidance; when two policies cover the same death, the operative principle is prevention of double recovery and entitlement is limited so that a single loss does not generate duplicate payouts.