No. If you have two policies from the same company, the agent made more commission than would otherwise on a single policy.
There are however very good reasons to have more than one policy. Policy for the family and another for a business.
The second policy's insurance value can be added to the first by using a rider at the attained age of the insured. The new resulting policy (first policy) mimics the effect of two separate policies.
Reputable insurance companies for whole life insurance include Gerber Life, MetLife, AllState, and Mass Mutual. Check with your auto insurer if you have car insurance, because sometimes you can combine two or more insurance policies with the same insurer and get a discount.
there are two types of insurance 1. Life insurance 2. General insurance
Sure can.
Two
Yes, you can have two life insurance policies. There are people who have even more than that. It isn't recommended to have a large number of policies, but two is not uncommon.
If they are both term life insurance policies, your total coverage would be $30,000. If one, or both are permanent life insurance policies, there may be cash value inside the policies that adds to the payout from the life insurance policies, so there may actually be more than $30,000, if you include the cash value inside the policies.
Farmers Insurance and State Farm are two larger and more established life insurance companies. Both are based in the US and over term life policies.
yes. even if they are from the same company.
Yes. Just list them, if asked on the application.
A life insurance policy is a contract. You can have as many as you want. They all have to pay out on the death of the insured.
New York Life and MetLife are two companies that specialize in the selling of life insurance. Prudential, AAA, Geico, and AARP also sell life insurance policies.
An individual can have multiple life insurance policies. The company will look at what policies are currently in place and make sure that you need what you are applying for, however. If they believe that you will be over-insured, they may decline your application.