Is It Legal To Have Two Life Insurance Policies? 
It is legal to have as many life insurance polices as you want , as long as you are financially qualified to carry that amount of life insurance . Normally , the amount that a person can get is about 20 times their income . This amount drops in the senior years . Financial guidelines vary between companies ; ask an agent for advice when applying for a second -LRB- or third or fourth -RRB- life insurance policy to guide you . 