You can have multiple life insurance policies in any state. Life insurers simply require that you take additional health exams and pass their underwriting requirements to obtain more death benefit protection.
Advantages
More life insurance means more protection your family. For example, additional cash value policies will increase the cash savings available to supplement your retirement income.
Disadvantages
Having multiple insurance policies comes with additional costs. Too many insurance policies may leave you over-insured. This is a situation where your total death benefits exceed the amount of financial liabilities that you have.
Considerations
Make sure that you need multiple life insurance policies before you purchase them. The primary purpose of life insurance is for your family to meet its financial obligations after you die. Once you have enough life insurance to accomplish that, then you won't need anymore.
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