Can A Person Have Multiple Life Insurance Policies? 
You may have multiple life insurance policies . It might be a great idea for you to have multiple life policies for different reasons . You could use a permanent policy such as Whole Life or Universal Life for final expenses or the cost of your funeral and burial or cremation . You might use the same permanent policies for providing an inheritance to your loved ones or gifting to a favorite charity . A permanent policy provides a tax favorable death benefit and a larger amount than just passing on money . Temporary or Term Insurance can provide more protection for the dollar when the protection is needed for a period of time . You can protect family income or debt payoff in the event of a death . You can protect a family from the burden of a mortgage when somebody dies . You are providing protection in the event a member of the family dies . Your limit of the amount of insurance is determined by each company in a unique way . You and your life insurance agent need to look at your situation and determine the best option for you . 