How Many Life Insurance Plans Can You Have?

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    Peggy Mace
    Most of the U.S.
    You can have as many life insurance plans as you are financially qualified to have. When you apply for a new policy, the insurance company will look at the total amount of life insurance you will have in effect after the purchase of the policy. They will not add in any current life insurance that you are replacing. They will see if you are financially qualified to have the total. It does not matter how many plans you hold, just so your total amount of life insurance is an allowable amount for your income and assets.
    Answered on July 23, 2013
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