Can I have 2 life insurance policies at once?

daivid

As per thread title, if I decided I wanted more cover for death (e.g. 200K) than for critical illness (e.g. 100K) could I take out one for death and one for critical illness instead of a critical illness policy for the higher amount? Would there be any issues of one compromising the other? Could one policy refuse to pay out if the other already had?

kingstreet

Nope.

No problem in what you suggest.

"Menu" plans allow different levels of life and/or critical illness and can also include income protection cover.

Aretnap

You can ha multiple life insurance policies, and indeed it's not unusual to have more than one, eg one which you take out to cover the mortgage to payt it off should you die, another when you have kids to cover their needs, probably with a different term date to to first.

Only caveat is that some insurers will want to be informed if your total amount of cover is very high, but at £200K that's unlikely to be an issue. Think one of my policies said that I had to inform them if I had >500K cover in total, which I didn't, so I never found out what would have happened if I did.

liue

Yes, everyone can join more than one insurance.

tacpot12

When I applied for a large amount of cover on two seperate policies in 1996, I had to have a medical interview with a nurse from Legal & General. They just wanted to be sure that I was in good health before issuing the second policy.