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Can I purchase more than one Life Insurance policy? Is it possible to have multiple Life Insurance policies? Are there any restrictions or limitations on purchasing multiple policies? I'm considering getting additional coverage and wanted to know if it's allowed.
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Yes, it is possible to buy multiple Life Insurance policies. There are generally no restrictions or limitations on the number of policies you can have. However, the total coverage amount across all policies may be subject to underwriting limits based on your income and financial situation. Having multiple policies can provide additional coverage and financial protection for different needs or beneficiaries. It is important to carefully consider your insurance needs and consult with a licensed insurance specialist or financial advisor to determine the appropriate amount and type of coverage for your specific situation.
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