1. 11498 POINTS
    Jason Goldenzweig
    Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
    Yes this can be accomplished. I can help get your policy set up. Send me an email via the "contact me" button or call me (my contact information is on my agent profile page). My agency represents over 50 companies and are licensed in over 35 states so we can shop the case to a large number of carriers to make sure that the program being set up will offer it at the lowest cost.

    I also wanted to clarify as you indicate "per person" in your question, are you looking for one policy with a face amount of $12,000,000 with multiple beneficiaries or multiple policies for a greater amount?

    The cost of any policy will depend on a number of things - the risk classification is the most important factor as it determines the premiums for the policy. The risk classification is determined by the medical history - your gender, height/weight profile, any medications, any major medical conditions, family medical history, the results of the medical exam, any use of tobacco products, and other factors.

    Please note, with a $12,000,000 life insurance policy, the process may involve a reinsurance company and the carrier will likely ask for a financial questionnaire to make sure that the desired figure for the coverage is suitable to your income level and the financial need is justifiable.

    I hope the information is helpful - please feel free to contact me for help getting the policy in place and if you have any other questions. Thanks very much.
    Answered on July 28, 2014
  2. 5527 POINTS
    Marlin McKelvy
    President, Consumer Directed Benefit Solutions, Memphis, Tennessee
    Yes, it is possible but that is a pretty high level coverage so it won't be a simple process that you can knock out in a few days.  First of all, you and the others involved would have to have income levels that would justify such a coverage level.  Usually policies of these levels are taken out for highly paid executives of corporations or wealthy families.  It would be impossible to provide you with an estimated cost without much more detail (ages, sex, income/asset status, health, etc.).

    I would be happy to assist you with this process but it is a process and obtaining coverage at levels you are asking about has much more involved in it that if you were looking for $50,000 in coverage on a group of people.  That's a lot of risk you are asking a life insurance company to take on (in fact, it is quite likely that at these levels you might have more than one life insurance company involved as they may want to split up the risk).  Let's say you are some Silicon Valley firm where all the officers/founders now find themselves multi-millionaires and that there are 12 off you.  And then for some reason all of you get on the same airplane (probably your private jet) and it goes down with all on board killed.  That's at least $144 million that the life insurer has to come up with in short order (quite possibly $288 million if an accidental death & dismemberment provision is included).  That's a lot of cash for even the biggest life insurance companies to just pull out of their bank account.

    Please feel free to contact me if you wish to explore this coverage.
    Answered on July 28, 2014
  3. 15645 POINTS
    Edward HarrisPRO
    Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
    Obtaining that amount of life insurance is possible. Important factors to consider are the safety of the company, the rate you pay and the underwriting criteria. With more than 34 years of expert and unbiased experience in the life insurance business, feel free to contact me to review your best options.

    LIVE answer provided by: Ed Harris - Premier life insurance broker since 1980 and owner of several of the nation's top-rated websites that provide the lowest available rates.
    Answered on July 28, 2014
  4. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! There are companies that will write you, certainly, and you will have willing agents lining up on your gated mansion doorstep looking for that business. For that size policy, you need to expect for some things to happen, that wouldn't for smaller policies. You will have a med workup like no other; They will want a financial statement verifying that the amount of coverage is warranted, and some iron clad ID. It will take longer than the ordinary policy to underwrite and process also, so if you are looking for it to be done quickly, I'd advise you to not expect that to happen. Call me, I'll help you get those puppies written! Thanks for asking!
    Answered on July 29, 2014
  5. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    The quote engine on my website quotes to $5,000,000. You can input the gender, ages, build, and health conditions of the persons you are looking to cover to get an idea of what the premiums will be for them. Take the result times 2.35 to get the approximate premium for $12,000,000.

    My expertise is in finding the best health rating and price for each person. Whenever you are looking at more than one person, there is a health factor involved, that possibly, not even the applicant is aware they have. After 12 years of finding the best quotes for hundreds of impaired risk applicants each month, I can definitely help you in that crucial and foundational step.

    After finding your best carrier, I would work with the "big case" department of that company to knock out the details. They know all the ropes so you can get the rate you qualify for. I am connected with a prestigious brokerage whose reps will bend over backwards to help get this done in the smoothest possible fashion.

    If you would like my personal assistance, I would be happy to help. As you can see, there are several good agents who put a lot of time answering consumer questions on this website, and I'm sure that all of us are qualified in different ways, to pull this off for you. While we love to do this as a service, it is always a joy when one of our answers prompts someone to contact us.
    Answered on July 29, 2014
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