Can I have more than one life insurance policy?
Life insurance
The short answer
Yes. Unlike income protection, life insurance policies can usually all pay out in full, because they pay a fixed amount on death. Many people hold several policies for different needs, such as one for a mortgage and one for family income. Insurers will ask about existing cover when you apply.
Why people do it
Different terms for different needs can keep costs lower than one large policy.
Keep track
List every policy and tell someone you trust where the documents are.
Trusts
Each policy can have its own trust and beneficiaries.
Sources
This article is general information about UK protection insurance, not personalised financial advice. Policy terms vary between insurers and products, so always check your own policy documents.
Last updated 27 October 2026