Is it possible to have a single life insurance with coverage > $100,000 or do I need to get multiple life insurance to ensure that coverage is x10 my annual income?

Hi Sarah,

It is definitely possible to just have a single life insurance with coverage of more than 100K. In regards to whether you need to get multiple life insurance, that is actually unnecesary as if you are looking for more coverage during your working years, you can actually just get a term insurance to bump up the coverage as needed.

Are you looking to have more than 100K coverage even after your working years?

Hi Sarah,

There's no need to break your coverage into multiple policies. You can just get one with the right amount of cover that you need. There are financial underwriting guidelines in place to ensure that people are not buying too much insurance, but x10 annual income for death or even CI coverage is possible as long as you're not near retirement or something.

Rather, do make sure that you are getting the right type of coverage for your needs, and that you are doing so in a cost effective manner. That's more important.