Why? Because, over time, your life insurance needs may change, and life insurance carriers understand this, so they do allow people to have more than one life insurance policy, if needed.
For instance, when you are 25 and just married you may have a smaller need for life insurance than when you are 35 with 3 kids, so you may want to purchase another life insurance policy when your responsibilities have grown, and your need for more financial security has increased over time.
Usually, a life insurance company may allow you to purchase up to 10 to 20 times your income in life insurance. So, if you earn $100,000 a year, you may be able to buy up to $2,000,000 of total life insurance coverage among the total number of life insurance policies you own.
Learn more about how many life insurance policies you can have.