Is a Multi Million Dollar Life Insurance Policy the Smartest Way to Protect Your Wealth in 2026?
When you start looking at a multi million dollar life insurance policy, the first thought is usually, “Do I really need coverage that big, or is someone trying to oversell me?”
In 2026, high-income earners, business owners, and families with real wealth are using multi million dollar coverage to do three simple things: replace decades of income, protect a business or buy-sell agreement, and keep the IRS from carving up the estate when they’re gone. If those are the worries in the back of your mind, you’re in the right place.
In this guide, we’ll walk through who actually qualifies for multi million dollar policies, how carriers decide if the numbers make sense, and what realistic pricing looks like from $2 million to $100 million in coverage—so you can see, in plain English, whether this level of protection fits your life or not.
How much does a multi million dollar life insurance policy cost in 2026?
In 2026, a multi million dollar life insurance policy can start around $150–$300 per month for a healthy 30–40 year-old buying $2–$3 million of term coverage. Larger policies in the $5–$10 million range, or permanent coverage, often run from the low thousands per month, depending on age, health, and how long you need the protection.
High Net-Worth Individuals And Life Insurance
Above all, purchasing a multi-million dollar life insurance policy sounds like a lot.
I mean, to the average American, the idea of needing a 2 million dollar insurance policy, a 30 million dollar life insurance policy, or even a 100 million dollar life insurance policy seems unimaginable.
Whether it is term life insurance or universal life insurance, it is very important to talk to an independent agent for these types of life insurance quotes.
Furthermore, going with a 30-year term or a 15-year term will really come down to the health class, which will determine the rate.
In this article, we will break down the affluent consumers and why they, in fact, need these ridiculous policy amounts.
Stay tuned for multi-million dollar quotes.
Multi-Million Dollar Life Insurance Policies
Let's get to it.....
How much does a million-dollar insurance policy cost? Forget that, what about a multi-million dollar life insurance policy?
In some cases, consumers sometimes have more to protect than just their spouse and children or assets such as a home.
Furthermore, a one-million-dollar policy just won't be enough.
In fact, a multi-million dollar life insurance policy might be a good way to protect assets to prevent Uncle Sam from taking a big bite out of your estate after you pass away.
If you have a net worth in the 8 to 9-figure range, that can be a very, very big chunk! If you are an affluent consumer, then you worked hard to accumulate assets over the decades.
In this day and age, having a 10 million, 100 million, or even a billion-dollar net worth is not something that's unheard of.
In fact, there are 11 million millionaires in this country and more than 550 billionaires in the US, the most of any country.
So you have a lot to protect, and a multi-million dollar policy would help to properly protect assets.
What is the highest life insurance policy ever written?
The Biggest Life Insurance Policy Ever Sold Was From A Billionaire In Silicon Valley For $201 Million, A Guinness World Record!
A policy that large could put an insurance carrier out of business, so the risk was spread out over 19 different companies, each with less than $20 million.
Read more about this by clicking here.
So Let's Have Some Fun. Let's See What These Mammoth Policies Cost!
The Best Life Insurance Companies for High Net Worth Individuals
When considering life insurance coverage for high-net-worth consumers, it's very important to consider the best insurance carrier.
Whether it be universal life, level term, or permanent life insurance, the amount of life insurance is just as important as picking the carrier.
First of all, when I have a high net worth client, the most important is qualifying him for his rating class, which will determine the life insurance rates. Medical conditions, such as high blood pressure if controlled, will not be considered high risk.
Furthermore, having a candidate in excellent health will always make the process go smoother.
In fact, that is what you strive for when buying life insurance for high-net-worth consumers. Whether it's an affordable term or whole life, that is what we strive for!
The top 5 carriers I like to use when determining coverage for affluent clients have the qualities to make sure the death benefit will secure the family financially for the future.
Let's face it, applying for a 10 million, 25 million, 50 million, or 100 million dollar policy is more than just taking a medical exam!
Here are our top 5:
It is important to know that age and income are factored in when purchasing life insurance.
Above all, the carrier does not want you to be worth more dead than alive.
Use our multiples of income calculator to get a general idea of how much a provider will allow before asking questions to make sure you are not overinsuring.
Enter your age and annual income to estimate how much coverage may be allowed based on income multiples. *Estate taxes and other circumstances may allow more coverage.
Results
| Age | Multiples of Income |
|---|---|
| Under 30 | Up To 40x |
| 30–39 | 30x |
| 40–49 | 20x |
| 50–59 | 15x |
| 60–64 | 10x |
| 65–70+ | 4–6x |
What Would A 100 Million Dollar Life Insurance Policy Cost
Above all, if you are lucky enough to be placed in a position to have to get a multi-million dollar policy, such as $100 million in coverage, life must be good.
However, the old saying, "More money, more problems," might have some validity to it.
But who are we kidding? If you are getting a $100 million dollar policy, life is pretty good!
With that said, chances are if you are purchasing a 100 million dollar life insurance policy, you are probably a CEO of a technology company or owner of a retail store chain like the Waltons, owners of Walmart.
Bottom line, you are not worried about getting cheap burial insurance, that's for sure.
Again, if you are looking into a hundred million dollars in coverage, you might be one of these people.
I am sure they are not concerned about non-guarantees vs guarantees of a policy.
Forbes Top 15 Billionaires (As of 12/26/2025)
Top 15 Richest People in the World PinnacleQuote
| Rank | Name | Net Worth | Industry | Age | Country/Territory |
|---|
Another reason for getting such a large amount of coverage is to secure a mammoth loan!
Maybe you are purchasing a professional sports franchise, or buying a Super Yacht , just to name a few.
So, how much does a 100 million life insurance policy cost?
Yes, I said it, 100 million dollars!!
Well, if you are established, the average age for becoming a billionaire is 51.
So this example will be from a 51-year-old healthy male and female who are purchasing 100 million dollars of coverage.
100 Million Dollar Life Insurance Policy Cost For A Male
Below are the rates for $100,000,000 life insurance policy for Term, Universal Life, and Whole Life.
This table will be age range 20-80.
Life Insurance Sample Rates (Male / Female)
Select gender, age, and product to view sample premiums. Premium is Monthly and Total Cost is Annual. Female rates are calculated from the male table using the reductions you specified.
| Gender | Age | Product | Monthly Premium | Annual Premium |
|---|
100 Million Dollar Life Insurance Policy Cost For A Female
- 100 Million Dollar Term Policy For 30yrs: $20,211.63/monthly, $230,990.00/annually
- 100 Million Dollar UL Policy: $58,350.00/monthly $684,230.00/annually
*Although these rates are what a quote spits out. The idea of one carrier taking the risk on a 100 million dollar life insurance policy is slim to none. As we explained, it will be broken up into multiple carriers between 10-20 million.
What Would A 50 Million Dollar Life Insurance Policy Cost
Ok, so after talking about the 100 million dollar life insurance policy cost it almost feels small talking about anything else, even the 50 million dollar life insurance policy cost.
But first, let's talk about who would be getting this type of policy.
First of all, when I think about a policy like this and the type of client it consists of, the first three that come to mind is the key man or a buy-sell agreement to a major corporation, or a professional athlete.
Another that squeaks in is a deferred compensation plan for multiple employees of a corporation. This works wonders on tax-deferred write-offs for a corporation, no matter whether small or large.
Moreover, professional athletes earn millions of dollars in income through contracts and endorsements.
In fact, the lifestyles we see daily for the likes of Lionel Messi, Lebron James, Neymar, and Roger Federer are what dreams are made of.
So it would not be uncommon for athletes such as these to purchase a 50 million dollar life insurance policy. As a matter of fact, it's literally one year's income in some cases.
Forbes Top 10 Highest-Paid Professional Athletes (as of 12/26/2025)
Top 50 Highest-Paid Athletes PinnacleQuote
Search, filter, and sort. Columns shown: Rank, Name, Sport, Nationality, Total Earnings. (Source: Forbes)
| Rank | Name | Sport | Nationality | Total Earnings |
|---|
So there you have it, so it is not so hard to believe that some of these pro athletes would be or have purchased a 50 million dollar life insurance policy.
So what Will A 50 Million Dollar Life Insurance Policy Cost Me
Prudential is one of the carriers I would trust with a big retail policy like 50 million in coverage. Especially for a term policy.
$50,000,000 on a 30-year term with Prudential for an athlete in the middle of their prime (30 years of age), you are looking at: $2632.44/month, $30,085.00/annually.
Protective Life would be the carrier I would trust with the bulk of this policy.
In some cases, you would need to split it up into a few carriers.
Especially with a UL or a GUL product that guarantees to pay out one day. Depending on how you utilize these policies, in some cases, they can be used as an investment.
$50,000,000 on a UL/GUL product, which is a permanent life policy, for an athlete in their prime, you are looking at: $16,163.62/monthly, $187,513.00/annually.
$50,000,000 Life Insurance Sample Rates (Male / Female)
Premium is Monthly. Total Cost is Annual. This table uses the same cost ratio as your $100,000,000 table (scaled by 0.50). Female rates are calculated from the male table using your reductions.
| Gender | Age | Product | Monthly Premium | Annual Cost |
|---|
25 Million-Dollar Life Insurance Policy Cost
Ok, let's talk about the small policies, LOL.
All kidding aside, the cost of a 25-million-dollar life insurance policy can still be steep, depending on the age and health. Again, there are 11 million millionaires in this country.
Above all, if you are still working or running a business and you are under the age of 50, then this just might cover loss of income over 2 decades.
The 25 million dollar life insurance policy can also be for a buy-sell agreement for a mid-sized company.
For example, if you have a company with a net worth of 100 million dollars and four partners, then a 25 million dollar life policy for each partner would be perfect.
God forbid if one of the partners dies, the policy would then buy out the family of the deceased.
So let's see what a 25 million dollar life insurance policy costs!
This is based on a 45-year-old male and female, in great health, for a 20-year term to the retirement age of 65.
$25,000,000 Life Insurance Sample Rates (Male / Female)
Premium is Monthly. Total Cost is Annual. This table uses the same cost ratio as your $100,000,000 table (scaled by 0.25). Female rates are calculated from the male table using your reductions.
| Gender | Age | Product | Monthly Premium | Annual Cost |
|---|
10 Million Dollar Life insurance Policy Cost
What does 10 million look like in coverage?
Another multi-million dollar life policy that's more common these days than in the past is the 10 million dollar life insurance policy.
How much is a 10 million dollar life insurance policy?
Most of these policies I have seen in my career have been usually for estate taxes for clients with a net worth ranging from $15 million to $30 million.
With that said, the IRS will come knocking at your door with its hand out when someone passes away with a considerable net worth.
This is usually referred to as the federal estate tax!
A 10 million life insurance policy cost is very common for estates over 25 million.
Call your independent agent to find out how to get a 10 million dollar life insurance policy and the cost of ten million dollars in coverage.
$10,000,000 Life Insurance Sample Rates (Male / Female)
Premium is Monthly. Total Cost is Annual. This table uses the same cost ratio as your $100,000,000 table (scaled by 0.10). Female rates are calculated from the male table using your reductions.
| Gender | Age | Product | Monthly Premium | Annual Cost |
|---|
10 Million Whole Life Insurance Policy Cost
Above all, when you are looking for a 10 million dollar life insurance policy, much comes to mind.
For instance, are you protecting a specific time, like say 20 years or 30 years?
- What are my monthly premiums going to be?
- Is the amount of money enough?
- Will it give me peace of mind?
Overall, your age and health history will be scrutinized.
However, whether it's a 20-year term or a whole life policy, you will need an insurance agent who is on top of his game and is an expert at what he does!
When looking at the best million-dollar life insurance policies, the person you work with is more important than the company you work with.
But if you are looking for a 10 million dollar whole life policy, you'd better be working with someone who knows the difference between participating and non-participating.
What are PUA/PUAR? In addition, knowing what the infinite banking concept is (IBC).
Here are the best rates for a $10 million dollar whole-life policy for ages 20-80.
$10,000,000 Whole Life Policy — Sample Rates PinnacleQuote
Select Age and Gender to view the Monthly and Annual premium for a $10,000,000 Whole Life policy.
Selected Rate
Payment Comparison
| Age | Gender | Policy | Monthly | Annually |
|---|
Multi-Million Dollar Life Insurance Policy For Estate
This year, in 2023, the rules say that you can leave up to $11.7 million to your loved ones, kind of like passing them all your Monopoly money and properties when you're out of the game. The best part? Uncle Sam won't take a cut; it's all tax-free.
If you're married, it's like playing on a team. Together, you guys can pass down double the amount, a whopping $23.4 million, without taxes.
But what if you're really good at this game and you have more than $23.4 million? For instance, you and your spouse have been super successful and built a net worth of $25 million. When you both pass on, the amount over the $23.4 million, which is $1.6 million, could be taxed.
To solve this problem, a $10 million life insurance policy could be your secret weapon. It can cover that tax, making life easier for your loved ones.
You might be thinking, "That sounds good, but what's the price tag on a $10 million policy?" Stay tuned, we'll get into that!
Furthermore, if you're in your early 40s and bringing in over $500,000 a year, this might be a smart move for you.
Another bonus? You can stack your life insurance policies like pancakes. By doing so, you can potentially cut your insurance payments by half. That's like getting a two-for-one deal at your favorite diner!
5 Million Dollar Life Insurance Policy Cost
So we have been through the big policies. Doesn't the 5 million dollar life insurance policy look small?
How much does a 5 million life insurance policy cost?
I mean, after talking about billionaires, the highest-paid sports athletes, high net worth individuals, and estate taxes, now we get to the normal stuff: what does 5 mil will cost?
Above all, it's just another multi-million dollar life policy, right? Now we are getting close to the common folks.
However, we are still in the 1%, affluent population. But a 5 million dollar policy is pretty common for those who make between 250k and 500k annually.
I mean, the rule of thumb is at least 10 times your income.
If you are not sure how much life insurance you need, here is a great planner!
So let's see what a 5 million life policy will cost.
$5,000,000 Life Insurance Sample Rates (Male / Female)
Premium is Monthly. Total Cost is Annual. This table uses the same cost ratio as your $100,000,000 table (scaled by 0.05). Female rates are calculated from the male table using your reductions.
| Gender | Age | Product | Monthly Premium | Annual Cost |
|---|
We will base this on a 40-year-old healthy male and female on a 30yr term that will bring them to retirement age.
This should answer the question of how much a 5 million dollar life insurance policy!
3 Million Life Insurance Policy Cost
I recently wrote a case for a widower senior over age 75 for a 3 million dollar GUL with Protective Life.
Her husband had recently passed away and she was left with a net worth of 18 million. She had a second-to-die policy for $6 million.
Adding an additional $3 million of coverage will protect her assets from the IRS and the estate and gift tax! She needed and could handle a multi-million dollar insurance policy cost.
Let's See What A 3 Million Dollar Life Policy Will Cost.
$3,000,000 Life Insurance Sample Rates (Male / Female)
Premium is Monthly. Total Cost is Annual. This table uses the same cost ratio as your $100,000,000 table (scaled by 0.03). Female rates are calculated from the male table using your reductions.
| Gender | Age | Product | Monthly Premium | Annual Cost |
|---|
2 Million Life Insurance Policy Cost
How much does a 2 million life insurance policy cost?
If you are buying a 2 million life insurance policy, you might be protecting income, the mortgage, or college tuition.
However, whatever the reason, 2 million in life insurance protection will give your family a head start.
Below are the rates for a 2 million life insurance premium cost for a 20-year term for a male and female aged 30, 40, 50, and a 60-year-old.
$2,000,000 Life Insurance Sample Rates (Male / Female)
Premium is Monthly. Total Cost is Annual. This table uses the same cost ratio as your $100,000,000 table (scaled by 0.02). Female rates are calculated from the male table using your reductions.
| Gender | Age | Product | Monthly Premium | Annual Cost |
|---|
No, if you are wondering how much a million-dollar life insurance policy costs after reading this article, you may want to go to our 1 million dollar life insurance article.
FAQs
In 2026, a $2–$3 million term policy for a healthy adult can start in the $150–$300 per month range. Once you get into $5–$10 million of coverage, term premiums often run from several hundred to a few thousand dollars per month, while permanent policies can cost many times more because they last for life and build cash value.
Multi-million dollar life insurance is usually for high-income earners, business owners, and families with sizable estates or long-term obligations. If your income, debts, business value, and future goals add up to several million dollars, a multi-million dollar life insurance policy can be the cleanest way to keep everything on track if you die early.
Carriers use income multiples and overall financials to justify a $10 million life insurance policy. Younger clients may qualify for 20–30 times annual income, while people in their 50s or 60s are often capped at 10–15 times income. Significant net worth, business value, or estate-tax exposure can also support a $10 million death benefit.
True no-exam multi-million dollar life insurance is rare. Most $5–$10 million policies require a full medical exam plus lab work and detailed financial underwriting. Some carriers offer accelerated underwriting for very healthy applicants and smaller multi-million dollar amounts, but you should expect more scrutiny as the face amount climbs.
Both approaches can work. One large policy is simpler to manage and often cheaper per dollar of coverage. Stacking several smaller policies lets you mix term lengths or carriers, and even drop layers later as needs shrink. The right design comes down to your income, debts, business plans, and how
long each risk really lasts.
Term is usually best for pure income replacement, debt payoff, or business protection over 10–30 years. Permanent coverage is more common when the goal is long-term estate planning, liquidity for estate taxes, or funding a buy-sell or trust strategy that needs to last for life. Many high-net-worth
clients blend both.
Underwriters look at your age, income, net worth, existing coverage, and the purpose of the policy. They use income multiples, business valuations, and estate-tax projections to see whether your requested multi-million dollar life insurance policy replaces a real financial exposure or creates
an unjustified windfall.
Yes. Many families and business owners use multi-million dollar life insurance inside trusts or buy-sell agreements to create instant liquidity for estate taxes, partner buyouts, or key-person replacement. The death benefit can keep a company, real estate portfolio, or investment plan intact instead of forcing rushed sales at the worst possible time.
Related Articles
Conclusion
The thought of needing a life insurance policy worth 2 million, 30 million, or even 100 million dollars might seem beyond belief.
Yet, if you're like most Americans whose families rely on your income for sustenance, ensuring you have adequate coverage for yourself and your loved ones is absolutely crucial in case of unforeseen circumstances.
The perceived cost may initially seem steep, but weigh it against the substantial financial impact of not having enough coverage.
Why not take the first step today with a simple quote from us? Get Your Quote Today!
We're not just any insurance agency – we're boutique life insurance specialists based in Jacksonville, FL, but we proudly serve clients across all 50 states. We are experts in the diverse world of life insurance.
With our access to over 50 carriers and a broad selection of 300 products, we confidently state: we've got you covered.
2 Comments
Kristine Holden
I’m interested in getting quotes for a $2 Million and $3 Million life insurance on myself. I’m a 50 year old female with a daughter 20. I’d like to leave her with a substantial amount of money to take care of her the rest of her life should I pass. I look forward to hearing from you. Thank you.
Danny Ray
Hi Ms. Holden, This is Danny Ray the owner. This is one of my specialties. I am emailing you right now.