How To Get One Million Dollar Life Insurance?

Who wouldn’t want a million dollar life insurance policy?  Definitely everyone wants to have it.  But how can you get this type of insurance policy in the first place?  As most of know that policies for life insurance are normally sold which include death benefits that usually range from $100,000 to $10 million dollars.  As an insured, you can build up cash value or you have the option to for the benefits will be given to beneficiaries within a specific period of time.  And if you want to get higher amount of benefits, tell your life insurance provider about it.

Here are several ways on how you can get the one million dollar policy:

  • Make your mind up if you want to get term insurance or permanent life insurance.  Take note that a permanent life policy builds up cash value eventually which is utilized for loans or an amount you get when you surrender your policy. On the other hand, term insurance is merely a benefit payment in a prearranged period of time, say 20 or 30 years.  Permanent life insurance has a higher premium compared to term insurance with a whopping 1 million dollar benefit.
  • Try to talk to various agents of different life insurance companies about options and costs of different life insurance policies carrying the one million dollar benefit. Until then you can decide on the plan that is ideally suited to your needs.
  • Try to ask the assistance of an agent when you are trying to fill out an application form for your one million dollar life insurance policy.
  • Go through a medical examination to an accredited physician of the insurance company as part of their requirement to be qualified for the $1 million policy.
  • You can sign the contract agreement and choose your mode of payment for your premiums.

This may sound easy but you need pass the requirements set by the insurers in order for you to qualify for the $1 million dollar policy.