Can a person have multiple life insurance policies at a time?

Answer 1

Answer Yes, the issue is not how many policies one has, it's the total amount compared to ones income, assets & responsibiities. I think the asker was more interested to know if it is possible to have more than one policy, as some insurers will only offer a policy up to a certain amount. It is possible, but be careful with the fine print. Some policies reduce or do not pay if other policies are in place. Be very careful.

The foregoing answer is absolutely correct. The public policy reasoning behind it is because insurance is protection-not a money-making proposition, either for the named insured or for the owner of the policy (if different)