It is possible to be covered for life assurance by several policies and all will pay out in the event of your death. Whether or not you should have the cover is a personal choice and depends on your own financial circumstances. You could speak with your financial broker and ask for a needs analysis - to look at your income, outgoings, assets and liabilities and see what financial position your dependents would be in if you died. Or you could do that yourself, making sure to account for future liabilities, e.g. college fees etc., if appropriate.