Can You Hold Two Life Insurance Policies?
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63333 POINTSview profilePeggy MaceMost of the U.S.Yes, you can hold two life insurance policies or as many as you desire, as long as you are financially qualified for that amount. A general rule of thumb is that you can have life insurance that totals about about 20 times your annual income (age and net worth figure in so could be higher or lower than this).Answered on June 18, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaI have seen drawers full of life insurance policies. Some people buy life insurance policies for designated reasons. They will write the name of the beneficiary on the front. Life insurance is bought for such a variety of reasons. You might have a policy that benefits your church, another than pays funeral expenses, another that will help a grandson through college and another to make sure your alma mater puts a plaque on a building saying what a wonderful student you were.Answered on November 7, 2014flag this answer
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