Sep 27
Multiple life insurance policies
Many people often wonder the same thing….can I have more than one life insurance policy from more than one carrier? The answer is yes!
Let’s say you purchased a policy 5 years ago, but now need more life insurance due to the fact that your family is growing. You have a few options. You can keep the policy and purchase a new one to supplement the amount that you need. You can shop around for a new policy with a larger face amount, but remember, you’re 5 years older so you may not get as good of a rate that you had.
Whatever the decision, DO NOT cancel any existing policies as you never know how your health or lifestyle in the past 5 years could affect the underwriting decision of the carrier.
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October 2nd, 2007 at 6:43 pm
Does already having a life insurance policy lead to any deleterious effects when another company is reviewing you for a second (or third) policy down the road?
Jerry
http://www.leads4insurance.com