How Many Life Insurance Policies Can A Person Have? 
I am working on a case right now in which my client has applied for 11 policies . Here is the breakdown : He is a partner in one business with two other fellows . They have just completed a buy-sell agreement and are funding the agreement with life insurance . Per the advice of their accountant and their attorney , they are purchasing several policies to cover both the current and the anticipated future value of the business . One policy will be owned by the business , and four other policies will be owned by a trust . That gives us five policies so far . My client is also a partner in a second business , with another fellow . They are following the same funding strategy . That business will own one policy , and the trust will own an additional four . Our count is now up to 10 policies . But these policies take care only of business needs . My client is also married with children . He needs life insurance for family protection . So he is purchasing yet another policy for their benefit . That gives us 11 . The underwriter is fine with this set up . My client can justify the need for all policies financially . All policies have been deemed appropriate with regard to the financial needs of the business and the financial needs of his family . And you know what ? He could buy more if he wanted to . Lets suppose he supported a number of charities . They could be religious , or social service , or political . He could take out a separate policy for each of their benefit . Five charities , five more policies . But we have another consideration . What if his net worth is over $ 5 million , and he wants to preserve his estate for his heirs ? What if he wants to avoid forcing his family to liquidate his assets just to pay Uncle Sams estate tax bill ? He could buy life insurance to cover the tax bill . Another policy . We are not done yet :-RRB- . What if his parents were financially dependent on him . It happens . What if his premature demise would put them in financial straits ? He could buy life insurance on himself for their benefit , so they could be well taken care of . Do you realize that in this scenario , this one client could take out 20 or so policies ? And it would all be financially justified and appropriate . How do you like that ? Would you like to keep learning ? Read my blog : planrisklive.com 