Can I Have Multiple Term Life Insurance Policies? 
Yes , you can . Sometimes people will purchase multiple policies in case their income stream drastically changes . If they only have one 500k and could n't make the full payment , the policy would lapse . However , if that same person has 2 policies for $ 250k each , they would be more likely to make at the payment on one of the policies . This way they are able to maintain partial coverage . 