The number of life inusrance policies is not an issue, but the total death benefit in force. Ideally you should have one policy to consolidate policy fees, admin charges and achieve any death benefit break points. This is not always realisitc, if you order an in force ledger on all your polices you may be able to save money.
A person may have several life insurance policies and in most cases, it makes sense to have multiple policies in force. The number of policies is not the issue as much as the total face amount on the policies that matters. Each carrier has a scale of the total amount of life insurance a person may have based on their income and assets. For an example, a 30 year old male making $75,000 per year could qualify with several carriers up to 35 times income or have a total face amount of $2,625,000 in total life insurance policies. You may want a combination of permanent life insurance and a couple of different term life insurance policies to keep your premiums affordable and maximize your family's protection.
I recommend using an experienced independent life insurance broker that can shop the market for the right combination of policies to cover your needs at the best possible price. That is very tough to do on our own.
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I recommend using an experienced independent life insurance broker that can shop the market for the right combination of policies to cover your needs at the best possible price. That is very tough to do on our own.