Life insurance - Can there be more than one policy?

[spikeycat]

Please help! My dp's exwife has taken out a life insurance policy on him (with his consent and he signed) so that if he dies her and her kids hae some protection. However, when I told my sister this she said it would mean that I wouldn't be able to get one out on him as he already has one. (we have moved recently, hence this all being up in the air).

Can anyone tell me if this is the case, as it concerns me when we have a ds and another due in march! - Thanks

I'm pretty sure you can have as many as you like - it's things like house insurance and car insurance you can't have 2 of.

It's fine - you can have more than one.

I thought so, and thought it was a sensible idea - my sister panicked me though! Thanks!

Life insurance can be taken out by anyone on another person who has an "insurable interest". That means that it must be proveable that they would be adversely affected financially by their death. THis was brought in when hundred of people took out life insurance policies on Nelson (I think) I believe. and I don't mean Nelson Mandela, I mean the old one on the column