Life Insurance

Can you combine two life insurance policies?


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Wiki User
2015-07-15 18:39:07
2015-07-15 18:39:07

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.


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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.

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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.

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