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how many life insurance policies can i have at the same time.?

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  • how many life insurance policies can i have at the same time.?


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Answer #1 | 19/12 2013 22:19
technically true but the applications do ask if you have any other policies, so if you did you would have to disclose them to the new company. That would obviously affect their underwriting, and it could be considered a red flag if you just randomly went out and tried to buy like 4 policies at once. plus it wouldn't even make fiscal sense. if you want $500k coverage it is much cheaper to just buy one $500k policy than to buy five $100k policies.
Positive: 77 %
Answer #2 | 19/12 2013 22:28
As many as you want. Maybe you want one when you marry and one when each child is born, not a problem. Term is cheaper so getting 20 years when each child is born is reasonable. Make sure you don't buy so much people are happy when you die.
Positive: 71 %
Answer #3 | 20/12 2013 04:12
There's no limit, as long as you declare the existing ones to the new underwriters as you buy the new one.
Positive: 51 %
Answer #4 | 20/12 2013 16:43
As many as you can afford and qualify for.
Positive: 19 %
Answer #5 | 23/12 2013 02:12
I agree with mbrcatz, there is no limit to get life insurance policies; however it is advisable to make a wise decision and choose if and only if you need it. Get a help from an expert or a financial adviser.
Positive: 10 %
Answer #6 | 14/01 2014 23:06
I agree there is no limit to buy life insurance policies. However you need to inform your current insurance company of the new one you are purchasing. Make sure you look at your budget, search it accordingly and most importantly compare them. Below link can help you calculate your premiums which can easily afford.
Positive: 10 %

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