fbpx 5 Million Dollar Life Insurance Policy (2024 Rates)

5 Million Dollar Life Insurance Policy (2024 Rates)

Fill out our quoter to compare rates from the top rated companies for 5 million dollar life insurance policies.

Looking for a 5 million dollar life insurance policy can be easy.

Compare your options and look at sample rates by using an independent broker such as Seniors Mutual.

This article will show you sample rates and what is needed on a 5 million dollar life insurance policy.

Table Of Contents

How Much Does A $5 Million Dollar Policy Cost?

Monthly premiums for $5 million dollar life insurance policies vary greatly depending on your health and age.

For example, the difference between “preferred plus” and “standard” health class rating is about double the cost.

And some people with poor health can even get sub-standard ratings that are even more.

Ages also play a huge factor in the price of a $5 million dollar life insurance policy.

What Is Required On A 5 Million Dollar Life Insurance Policy?

There will be additional requirement on a 5 million dollar life insurance policy since it is a larger face amount.

Along with the traditional life insurance requirements such as a medical exam and medical records, they will also require a financial check to make sure you can afford such a policy, and depending on age, an EKG and additional health checks.

You must also show some reason to the insurance company for such a large policy such as a large estate, trust, or other assets that you want to leave to children or other family members.

$5 Million Dollar Life Insurance Premiums

You can get either a term policy for this type of life insurance or something permanent such as Universal Life.

Below are sample rates for a male at different ages for a $5million dollar life insurance policy.

These will be at “standard” health class rating, which is what most people will qualify for. Keep in mind it is possible to get as good as “preferred plus” which is half the monthly cost of these rates.

Age10 Year Term20 Year Term30 Year TermUniversal Life (Permanent)

You can convert term policies to something permanent like a universal life or whole life before age 70 with most companies.

Best Life Insurance Companies For 5 Million Dollar Polices

The best life insurance company for a 5 million dollar life insurance policy will highly depend on your health and age.

Some companies are more favorable than others depending on the health condition and age.

However, there are usually a few companies that stand out from the others when it comes to large multi-million dollar policies.

  1. Mutual Of Omaha
  2. Foresters Financial
  3. National Life Group

If you compare prices among many companies, these tend to win out in the top three 9 times out of 10.


If you are looking for a multi-million or 5 million dollar life insurance policy it’s important to shop around to find the best rates.

Seniors Mutual specializes in high coverage amounts for life insurance policies wether it is term or a permanent policy like universal life.

Compare rates for a 5 million dollar life insurance policy by filling out our quoter and see rates instantly.

We look forward to speaking with you!