Is It Legal To Have Two Life Insurance Policies? 
Is it legal to have multiple life insurance policies ? Absolutely , you can purchase as many life policies as you qualify for . Some people worry that having a single policy with all the coverage inside that policy as a risk . A sort of all your eggs in one basket idea . So the idea of using several companies makes sense to them . It may not be necessary , but does n't make it wrong . Also , when it comes to companies that sell insurance , some companies are very competitive on Whole life policies but not their term . It is not uncommon for a person to buy their permanent coverage from one company and buy their term from another . 