Can you have multiple life insurance policy?
A life insurance policy is a contract between an insurer and a policyholder in which the insurer agrees to pay a designated beneficiary a sum of money upon the death of the insured person. Many people believe that you can only have one life insurance policy, but this is not the case. You can actually have multiple life insurance policies, as long as you meet the requirements for each one. There are several reasons why someone might want to have more than one life insurance policy, such as wanting to provide for different beneficiaries or needing coverage for more than one person. Life insurance policies As you get older and your life circumstances change, you may find that your life insurance policy no longer meets your needs. You may decide to purchase a new policy or add to an existing one. It’s important to understand how multiple life insurance policies can work together to provide the coverage you need. When you have more than one life insurance policy, the policies are typically