Can You Have 2 Term Life Insurance Policies? 
Yes , you can have two or more term life insurance policies as long as you financially qualify for the total face amount . In a lot of cases it is more cost effective to own multiple polices based on the financial needs of your loved ones . For example , you may want a whole life for a small amount for your life time , a 30 year term life policy to cover your mortgage and a 20 year term life to cover the children 's education fund in case of your early death . By using multiple policies you will save monthly premiums rather than paying for one policy and having to reapply every few years . 