Multiple Life Insurance Policies

shads1973

Any limit to how many life insurance policies one can have?

kingstreet

No. You can have as many as you like.

Assurers may have additional questions for cover above certain financial limits, but number of policies is not an issue.

It's often worth limiting how many you do have, as an average £3 policy fee included in the cost can mean you pay out a lot of money for a little cover!

shads1973

Thanks for reply. Think I need 2 unless 1 policy can cover my needs?

1 ex wife with 2 children I want to ensure something is left to (ex wife is trustee and children beneficiaries?)

1 current partner with 1 child (partner being trustee with her and child being the beneficiaries)

kingstreet

Yep, two plans written in trust as you said.

smason_2

You can have as many life insurance policies as you can afford. As the last person said, it may make sense to write your policies in trust to make sure the money can be sent straight away if a claim needs to be made.

I have a business myself, I took out a friends life policy through cover and legal. they did the trust online for me, so I didn't have to pay the solicitor.

If you have any more questions, feel free to PM me about this