Can I Have Multiple Term Life Insurance Policies? 
Yes , you can have as many life insurance policies as you wish , as long as you qualify financially for the total amount of coverage you own . Sometimes , it can be more cost effective to take multiple Term life insurance policies , especially if you only need a small portion of the coverage for a very long time . Sometimes , it is better to combine policies , such as : if you used to smoke and no longer would be charged tobacco rates ; if the industry premiums are lower now than they were when you purchased a past policy ; if your had a health problem in the past that has since been resolved ; or if you are paying policy fees on several policies and can save money by combining all your coverage into one policy . 