What does a $5-$10 Million Dollar life insurance policy cost in 2022?

How to buy a 5 million dollar policy

Your information will be evaluated and matched to find out who will offer products and death benefits at the greatest value.  Also, it might be necessary to look into several life insurance companies because your total risk under your current carrier’s retention limits may fall short of the amount of overage you are looking for.

We, as well as other agents, will need you to complete an insurance examination which will be used by insurance businesses.  We will need the required medical summary from your doctor which is known as the APS.

Keep in mind, large insurance policies in the range of $1 to $10 million dollars are subject to financial underwriting to determine whether the amount you are seeking can be justified from your financials.

We have a team of underwriters who will summarize and analyze your medical and financial information and decide who we submit to for tentative offers.  We also provide your medical and financial profile as a “trial application” and find out which life insurance companies would be willing to offer this kind of coverage at a competitive rate.

Our service allows us to make preliminary premium comparisons, accurately, based on the tentative offers.  That said, you will not know the actual premium until a carrier makes a formal offer of coverage.  Once that is done, a formal application will be provided to the carrier who offered the best rate during the shopping process.

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