Yes, you can have multiple life insurance policies in North Carolina. It is not only legal, many people do it. Life insurance is a flexible system where you invest what you want and where you want to invest it.
Many employers offer life insurance through their benefits packages, with coverage that often isn’t more than $50,000. At JC Demo Insurance Group, we know how common it is for Matthews, NC residents to want to ladder life insurance policies.
The Purpose of Life Insurance
The primary function of life insurance is to cover funeral costs and pay some bills.
You may be concerned about other things that could happen in your life with your dependents and beneficiaries. In this case, you might consider additional life insurance policies.
Why Own Multiple Life Insurance Policies
There are a number of reasons why you might want to own a number of life insurance policies. You might need more coverage from an additional policy if you don’t like the limit on your work policy.
You might just want more coverage because you want more coverage. Maybe you have a new home or just had a child.
You might also get more life insurance coverage if you think you will have a lot of debts when you pass away. You won’t want to leave those to your dependents or beneficiaries, because that will eat up a large portion of your life insurance.
Many people also get additional coverage as an income replacement for their beneficiaries. If you have a special needs or disabled dependent, you may need some additional coverage.
Get a Quote
When you are looking for life insurance, know that, yes, it is possible to own multiple policies in Matthews, NC. At JC Demo Insurance Group, we want you to have the amount of life insurance that you need. If you want to update your existing policy or add a new policy to your portfolio, call us for a quote today.