Business & Finance

There is no established limit.

As many as you can get insurance companies to sell you.

There's no legal limit. It's quite common for many people to have life insurance on two seperate policies.

There's not a limit to the amount of policies only the amount of coverage.

Every company has a different standard on the amount of life insurance that is excessive. Remember, life insurance is money that is paid to someone to compensate for any lost income or expenses they incur as a result of the death of another person. If a person makes 30k a year, rents an apartment, and has a 94 honda civic, they may struggle to find a company that will give them 10 million dollars of insurance. Even when you apply for multiple companies, they will ask what other insurance you have in force. I have seen companies decline to write certain face amounts or death benefits because the person could not prove a need for the insurance amount. Insurance is a policy that is designed to make people whole after someone dies. Also having multiple policies is generally more expensive than one large one. Insurance is usually less expensive the more you buy.