Yes — this is one of the most common structures in the Australian market. Many Australians hold a default level of life cover through their superannuation (typically automatic, lower-cost group insurance) plus an additional retail policy to top up to their target sum insured. The advantages of this layered approach include cost-effective baseline cover via the super-fund group rate, more comprehensive features and definitions through the retail policy, beneficiary control on the retail side (super death benefits are governed by trust law and can be more restrictive), and the ability to keep some cover even if you change jobs and super funds. When you apply for the retail policy, you must disclose your existing super-held cover during underwriting — insurers typically combine all your cover for the purpose of assessing whether the total is reasonable for your income and circumstances. There is no rule against having multiple life policies, but insurers may decline applications where the combined sum insured would be excessive. On a claim, both policies pay out — life cover is 'agreed value', not 'indemnity', so each insurer pays the full sum insured under their respective policy independently. Remember that super-held cover often expires earlier (commonly age 65 or 70) than retail cover (commonly age 99), so the layered structure tends to shift more toward retail-only cover later in life.