Yes you can have multiple life insurance policies, but there may come a point where the amount of life insurance coverage that you have combined among all of your policies may put you at an insurance company's coverage limit when they complete a needs assessment for another new policy.
Life Insurance Companies look at your financial circumstances and needs with regard to income, investments, savings, and debt, in relation to the financial obligations you have to your dependents when considering your application for life insurance coverage.
Since needs for life insurance may change over time, you can have multiple policies, but your overall total amount of life insurance compared to your income is considered by the insurance carrier when you apply for a new policy, and they do ask on the application about how many policies you already own, and how much total life insurance coverage you currently have "In Force".
Here's an article with more information explaining how many life insurance policies can you have?.
Life Insurance Companies look at your financial circumstances and needs with regard to income, investments, savings, and debt, in relation to the financial obligations you have to your dependents when considering your application for life insurance coverage.
Since needs for life insurance may change over time, you can have multiple policies, but your overall total amount of life insurance compared to your income is considered by the insurance carrier when you apply for a new policy, and they do ask on the application about how many policies you already own, and how much total life insurance coverage you currently have "In Force".
Here's an article with more information explaining how many life insurance policies can you have?.
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