Can I Have Multiple Life Insurance Policies?

Is it possible to own more than one life insurance policy?

Yes, you may be able to purchase two or more life insurance policies throughout your lifetime.

As you get older you responsibilities may increase which in turn may create a greater need for life insurance at higher levels of coverage.

Insurance companies understand this growing need and do offer you the opportunity to purchase more than one life insurance policy.

Insurance companies are more concerned with you being over-insured, that's why they ask how much total life insurance you already own when you apply for a new policy.

Many insurers will allow you to purchase up to 10 to 20 times your annual income in life insurance.

As you get older, you may get married, start a family, buy a home, or take on other financial responsibilities which increase your need for more life insurance protection.

Learn more about owning multiple life insurance policies