Currently there is no limit to the number of life insurance policies you can buy.
How can that be? Well, the insurance companies are concerned about the total amount of life insurance you have, not necessarily the number of policies.
Why? Because they don't want you to be over-insured - meaning you are worth a lot more dead than alive.
The insurance application asks you whether you already have life insurance coverage, and how much you own. Make sure you answer all questions on the life insurance application truthfully.
Why is it you can own more than one life insurance policy? Because, over time you may have a greater need for life insurance.
For instance, if you get married, have a child, and buy a home, you may need more life insurance to protect your family and pay off your home if you should die.
Want to learn more? Here's an article on "How many life insurance policies can you have?"
Insurance without any Medical Exam,
Just a Few Health Questions.
No comments:
Post a Comment