I thinking of buying life insurance is it possible to buy 2 life insurance...

  • Thread starter Thread starter kisha
  • Start date Start date
you can buy as many policies for whatever amounts from as many companies as you desire. The only drawback is that you must pay premiums, for the amount contracted, within the specified time period, on time and never late. Since it sounds as though you are a novice at the game, may we suggest that you pick a reputable firm, talk with a representative and learn something about the business before committing to a purchase.
 
I do.

I first bought one several years ago, but then wanted to increase my coverage. In the end, it was cheaper to keep the old policy and add to it with a policy from another company, rather than to cancel the existing one and then replace with a higher coverage one.
 
Yes, you can have as many insurance policies as you like. They will ask if your new policy is replacing an old one or if you have current insurance. Any reason why you wouldn't just buy a larger policy from the same place?
 
Yes, you can have multiple policies. One good reason to buy another policy is that some companies, such as AFLAC, lock my rate in for 25 years. My coverage will not be reduced and my rate never goes up.

If I were to up that limit on the existing policy, I would get a new, higher rate on the entire coverage.

Adding another policy would mean my increase would only affect that second policy, not my entire coverage amount.
 
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