When you apply for a life insurance policy, there usually is a question on the application asking whether you already own life insurance, and how much coverage is on each of the life insurance policies you currently own.
That way, the insurance company understands how much more life insurance they may want to offer you based on your current financial situation, annual income, and so you aren't over-insured based on your personal situation.
Although suicide is excluded on the life insurance policy, after two years of owning the life insurance a claim for death by suicide would be paid out. In some states like Colorado, the exclusion for suicide on a life insurance policy is only for one year.