Can I Have Multiple Life Insurance Policies at Life

Can I Have Multiple Life Insurance Policies. It is possible to buy two or more life insurance policies for one person. Income protection insurance protect your income if unable to work due to accident or sickness

If you have one policy for $200,000, and you have a second policy for $200,000, you have $400,000 in life insurance coverage. Or, you may have a permanent life insurance policy to cover the balance of your mortgage, and yet. Multiple life insurance policies = more life insurance coverage.

Yes, if you die and you have multiple life insurance policies covering you at the time, a claim can be made against all of them. In fact, most life insurance companies generally have very little concern over the number of policies you own and instead look more closely at the total amount of your benefits. Many people may choose to buy a term life insurance policy and a separate whole (permanent) life insurance policy to meet their short and long term life insurance needs. An important thing to mention here is the restrictions life insurance policies have in case you have more than one policy.