Can you have more than one life insurance policy?

You can have as many life insurance policies as you like – there is no limit. Equally, there is no right answer as to how many life insurance policies you should have. The most important factor is that you have enough financial cover for your own peace of mind.

Of course, just because you can get multiple life insurance policies doesn’t mean you necessarily should. So why would you need more than one policy?

Here are some circumstances that could see you benefiting from taking out an additional life insurance policy:

• You don't have enough life insurance in place to cover things like your mortgage or a child’s tuition fees.
• You've made positive health or lifestyle changes. You want to shop around for cheaper cover while keeping your old policy.
• You wish to take out two single life insurance policies rather than a joint policy.
• You have more than one protection shortfall. You want decreasing life insurance to protect a repayment mortgage. At the same time, you could also want level cover for family protection.

Yes, you can take out multiple life insurance policies with more than one provider. There is no law to prohibit this, and if the worst happened, it would be possible to claim against each policy. Insurers sometimes have offers for existing customers taking out another policy with them. Read more about our exclusive offers for L&G customers.

Yes. Two people can be covered under one policy through joint life insurance, which is a popular option for couples who want life insurance for two people under a single plan. A joint life insurance policy usually pays out once, typically when the first person dies during the policy term, after which the policy ends.

Many people choose joint life insurance when they want the same level of protection for the same length of time, especially if they’re looking to protect a joint mortgage or other shared financial responsibilities. It can be simpler — and sometimes more cost‑effective — than taking out two single life insurance policies.

Although a joint policy only pays out once, the surviving partner may still be able to continue their cover by taking out a new single life policy.

Yes. While many couples consider joint life insurance, it’s also possible — and sometimes beneficial — to have two single life insurance policies instead. With separate policies, each partner has their own cover, which means the surviving partner keeps their life insurance in place after the first death. This is one of the main reasons some couples prefer two policies over a joint one.

Two single policies can also be useful when partners want different amounts of protection, need cover for different lengths of time, or have individual financial responsibilities that don’t overlap. This flexibility is something a joint policy can’t always offer.

Couples comparing options often look at the benefits of single versus joint life insurance to decide which approach best fits their needs.