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Any possible problem with double 'death grants'?

Spirogyra · 2014-09-10 18:22:45

Hi I'm a member of 2 credit unions, both would pay a figure in the region of E1400 when I die. They told me that there is no problem in both being paid but I learned in Business at school that you can't be double insured? . I'm not ill, not planning on dying soon, but I like to have my affairs in order just in case,…

10-09-2014 6:22pm

#1

Spirogyra

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Hi I'm a member of 2 credit unions, both would pay a figure in the region of E1400 when I die. They told me that there is no problem in both being paid but I learned in Business at school that you can't be double insured? . I'm not ill, not planning on dying soon, but I like to have my affairs in order just in case, feedback appreciated.

Thanks
Sarah

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#2 10-09-2014 9:24pm

coylemj

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You can't be double insured for the likes of theft or fire insurance but there's no problem stacking up death benefits as much as you like or can afford. The rules are different for insurance and life assurance.

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