Is it possible to get another life insurance policy if you already have one?
Yes, you can have two or more life insurance policies depending on your specific need for coverage.
You can own a permanent life insurance policy and add a supplemental term life insurance policy for a short-term need, for example.
If you request more life insurance coverage than your expenses indicate you need, the insurance company will want proof that a medical condition is not motivating your request. They'll want you to take a physical and check on your health.
But, insurers understand that our need for life insurance may change over time, so it is acceptable to have more than 1 life insurance policy.
Learn more about how many life insurance policies you can have.