In fact, you may have group term life insurance coverage through your job, and own several of your own term life insurance policies.
It depends on your own personal life insurance needs and what you can afford to pay for your life insurance protection.
However, life insurance companies do ask about your existing life insurance coverage when you apply for a new policy. They want to make sure you aren't over-insured.
However, most life insurance carriers may allow you to purchase up to 10 to 20 times your annual income in life insurance. So, if you earn $50,000 each year, you may be able to buy up to a total of $1,000,000 of life insurance.
Learn more about how many life insurance policies you can have.