However, insurers will attempt to limit the total amount of face value (life insurance protection) you can own from all of your life insurance policies. That is why you must list all of the life insurance that you currently own, and that you are applying for with other companies, when you apply for a new life insurance policy.
Most life insurance policies have a two years suicide clause, and the insurance companies don't want you to be over-insured, which may give you an incentive to commit suicide, if for instance you lose your job and are unable to get work and earn a living.
The is no limit to the number of policies. You can have 20-30 times your income and you can do that in one policy or as many as you'd like. Problem with doing many is that they all will have some sort of policy fees so it's not very economical to have several policies for life insurance.
In other words if you make $100,000 per year then you could easily get $2,000,000 of life insurance, but the next life insurance company may or may not issue more life insurance coverage on you depending on their limits.
Here's how you can compare free life insurance quotes online from a network of more than 70 leading insurance companies to help you find affordable protection.