Life Insurance Rates

Determining life insurance rates is quite possibly based on what you would like to leave your children with. Even if one does have enough wealth already amassed for their family, these policies can contribute to more asset for the family.

My friend has to tell me that the doctor for whom she works as an assistant is pretty well off with enough wealth for his family to sustain even if he is no more. But despite being from such a well off family the doctor tends to insure his life for a very high value. And he has insured his life with 3 companies! What she has to tell was that if something has to happen to him and he is no more, all the 3 companies are going to pay the death benefit to the beneficiary. I am wondering if it is every possible to insure one life in 3 different policies.

I have no doubt about the very high sum of money that he has insured his life for. He earns enough to pay for even 3 more policies. But is it true that 3 different companies will insure one life? It sounds like two automobile insurances for one car? I think she must be kidding, any clarifications?