Can I have more than one life insurance policy?

Owning more than one life insurance policy is much more common than most people realize.

In fact, many people already have multiple policies without even thinking about it. You may have life insurance through your employer, a policy you purchased years ago, or even a small policy a parent or grandparent purchased when you were a child.

As your life changes, your insurance needs often change too. Getting married, buying a home, having children, starting a business, or increasing your income are all reasons someone may decide to purchase an additional policy instead of replacing the one they already have. Each policy can serve a different purpose.

One thing many people don't realize is that life insurance through your employer is typically tied to your job. If you leave your employer, retire, or lose your job, that coverage may end. Waiting until your 60s to replace that coverage can mean paying significantly more for a new policy, and depending on your health, you may have fewer options than you would have had years earlier.

Some things to consider:
*Do you currently have life insurance through your employer?
*If you changed jobs tomorrow, would your life insurance go with you?
*Do you know how much total life insurance you have between all of your policies?
*Have your family or financial responsibilities changed since you purchased your last policy?
*Does each policy still serve a purpose, or is it time to review your coverage?

Owning more than one life insurance policy is completely normal. The important thing isn't how many policies you have, it's understanding what each one was purchased for and making sure that coverage still fits your life today.