How Many Life Insurance Policies Can You Have?

I was wondering if a person can have more than one life insurance policy? Actually, yes, you can own more than one life insurance plan. Life insurance companies understand that over time your need for life insurance may change as your financial responsibilities increase during your lifetime. With the increase in financial responsibility comes a greater need for life insurance coverage. For instance, if you get married or start a family your need for life insurance will be greater and thus the need for another life insurance policy. However, when you apply for life insurance the application asks about other life insurance policies you own, and how much life insurance you already have In Force. The insurers ask this questions to make sure you aren't over insured. A life insurance company will usually let you buy up to 10-20 times your annual income in life insurance. So, if you earn $100,000 per year, you might be able to qualify to buy up to $2,000,000 of life insurance protection. Learn more about How many life insurance policies can you have?