By: Peggy Mace

Peggy Mace — Mon, 18 Nov 2013 20:20:48 +0000

You can have as many life insurance policies that you can qualify for medically and financially. Life insurance companies don't mind if you split up your coverage into several different policies; in fact, some types of coverage work better than others for certain needs. Also, some people like to diversify their coverage between different companies.

By: Steve Savant

Steve Savant — Mon, 11 Nov 2013 22:08:33 +0000

Video Transcript:

Today's question is, "How many life insurance policies can I have?" Well, actually you can have as many as you want as long as the death benefit doesn't exceed the justification issue, which is the companies will say, "We think that your exposure on your life is worth," let's say a million dollars. So if you have four or five policies and they total up to a million and as long as it did not exceed what they call financial justification you can multiple policies and many people do. But remember, the total amount of insurance on all these policies are going to be shown on the application. And so when you take the total, as long as it doesn't exceed what they believe is your economic justification, it doesn't exceed it, you'll be able to get as much insurance as you want up to that limit.

New answer on: How Many Life Insurance Policies Can I Have?

By: Peggy Mace

By: Steve Savant