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Since 2006 we have helped 339,605 people compare Protection Insurance quotes.
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Now’s the time to protect your loved ones - Prices have never been cheaper.

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Since 2006 we have helped 339,605 people compare Protection Insurance quotes.
We would love to do the same for you...

Can you have more than one life insurance or critical illness policy?

The short answer to this question is: yes, you can. However, the question of whether you can and indeed, should have multiple life insurance policy or critical illness policies also tends to be a little more complicated than a simple yes or no.

Is having more than one life insurance or critical illness policy actually a good idea?

As we referenced above, it is certainly possible to take out more than one life insurance or critical illness policy per person - there is no law prohibiting this.

Furthermore, there are certain very understandable reasons why you might wish to take out an additional life insurance policy - for example, if you wish to maximise the level of protection your surviving loved ones would benefit from in the event of you passing away.

Some people may also look to take out an additional life insurance policy if they have made lifestyle changes - such as quitting smoking - that could help them achieve more favourable premiums. But at the same time, they might like the idea of also keeping their old policy in place, for that little extra security.

Having multiple life insurance or critical illness policies in place could also mean more inheritance for your beneficiaries. For example, if you were to take out a second life insurance policy written ‘in trust’, the pay-outs from these life insurance policies would not count towards the inheritance tax threshold, set at £325,000 for an individual. Beneficiaries might be required to pay less inheritance tax as a result.

However, it’s also true that just because you can have more than one policy at a time, doesn’t necessarily mean you should. You might find that it’s easy to get your insurer to adapt your existing policy to whatever your needs may be. And if you were to do that, you would still have just the one policy to keep track of, which could help reduce complexity and confusion.

Are there any risks?

The largest risk with taking out any new life insurance or critical illness policy to add to your existing one, is a lack of guarantee regarding how much you will need to pay. Life insurance premiums are formulated around health information given at the time the policy is taken out, and circumstances can quickly change. So, just because you paid one rate with one policy in the past, doesn’t mean it would be the same for another that you might choose to take out now.

Ultimately, many people prefer to adapt a single existing policy to their current needs. Changes could include the length of the policy term, the amount of cover, and whether payments are made monthly or annually.

If you’re dissatisfied with your current arrangement, it could therefore be well worth trying to adapt it first, before you explore taking out any new, separate policy.

How many life insurance policies can I have?

Let’s go back to the beginning of our article: yes, you can have more than one life insurance or critical illness policy. But you might wonder, how many can I have? Is there a limit? The answer is no! Legally, you can have as many policies as you’d like. Just make sure you are aware of the difficulty and complexity of managing multiple policies before you make this choice.

Would you like to discuss your needs in relation to life insurance or critical illness cover with trusted advisers - for free, with no obligation to purchase? If so, please do not hesitate to call our own skilled and informed protection insurance experts now, on 0800 316 6917.

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Get Insured within 20 Minutes

It is possible to be protected with a life insurance or critical illness policy within 20 minutes provided the insurer does not require a GP report or medical.

A GP report or medical is normally required for large amounts of cover (over £400,000), or if your BMI is over 30, or you have any significant ongoing or past medical issues, or if you are involved in dangerous job or high risk hobby.

Calculate Your Cover

Find out how much cover you might need by using our simple online calculator. It will take into account your outstanding mortgage, any loans or credit cards, your monthly income and how many children you have.

Ultimately the right amount of cover is often a balance between what might be an ideal figure and what you can sensibly afford.

Calculate your cover here

Personal Service

We have tracked down the very best protection insurance advisers in the UK to ensure you have access to best advice and the best products from the leading insurers.

Instead of pushy sales people, our advisers offer a more personalised service to guide you through the process and ensure you enjoy lasting peace of mind by making an informed choice.

Read What Our Customers Think of Us

Five Stars (4.9)

Great communication, help and guidance.

All my questions were answered, as I know little on how life cover, critical illness and terminal insurance policies work.

I was given good independent advise, so I could confidently make my choice on what was right for me.

- Denise

Clear, friendly, efficient and prompt service.

No nonsense, no jargon, just clear and informative guidance. Very quick with results which did not disappoint. Delighted with my deal which was a third cheaper than my own bank offered me and I didn’t do any of the legwork. More than happy to recommend.

- Ms Shannon

I found the customer service representative very polite and informative and helpful.

I wished some information on life insurance for a mortgage I have applied for.

All in all the process was very useful and informative and the representative was very helpful and polite. I would recommend this online service to anyone who is looking for life cover.

- Mrs Severn

Very good professional service.

I was impressed by the quality of service by the advisor who dealt with my request. He has carefully listened to my requirements, asked a few relevant questions and has provided me with the option which suited my needs in the best possible way. I have really admired his flexible approach and fantastic customer skills.

- Mrs Cookson

Professional and no-nonsense approach.

Very thorough yet friendly service. Good contact and information one can understand.

- Heather Cronley

A professional customer centric company with the client at the heart of the transaction.

The advisor put me at the heart of the transaction, was professional, gave realistic opinions and suggestions offering me choices in clear terms which I understood.

- Andrew Hughes

Outstanding service and knowledgeable customer service rep.

I received a call as promised in my email. Marie Bedding was very knowledgeable in her subject matter, she took some basic details and was very polite and courteous in her manner.

Marie was very sensitive when discussing personal circumstances and listened carefully and showed compassion to my details. Marie then said ‘leave it with me and ill get back to you’, within 20 minutes Marie was back on the phone with the quotes as promised and gave me a selection of options to chose from.

Marie did not pressure me with the ‘Hard Sell’, I needed time to discuss the options with my partner, Marie kindly emailed me all the details and left it in my hands to contact her once I had made a decision and if I would like to go ahead with the policy.

I cannot fault this service and the professionalism I received.

- N Marsden

Excellent Service.

Great service, easy to understand terminology. Everything explained and documented by adviser. Thank you.

- Glenda

The quotation service is provided by an FCA-authorised insurance specialist

Promoted Premiums for 35 year old male (non-smoker) on a 25 year term - September 2022*
Life Insurance: £5/month = £65,371 sum insured
Critical Illness Cover: £10/month = £27,546 sum insured
Combined Life & Critical Illness Cover: £10/month = £25,230 sum insured

 

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