Can You Have More Than One Life Insurance Policies? 
Certainly you may have two or even more life insurance policies in force . The main issue with an underwriter would be the total face amount has to be in line with your earnings , debt or net worth . In many cases a consumer should carrier multiple policies . For example , if you need one million in term life over a 30 year span , you should break it down to your exact needs . Lets say you owe $ 300,000 for 20 years on a mortgage and your children will be out of college in 10 years . It may make since to have $ 200,000 in 10 year term for your children `` s college and $ 300,000 in 20 year term for the mortgage and $ 500,000 in 30 year term for income replacement . This is still $ 1,000,000 in term but it expires when no longer needed and keeps premiums down to a minimum . I suggest consulting with an experienced independent broker to shop the right product mix for your unique situation . 