How do premiums scale for large life insurance coverage amounts in Nevada?

Life insurance premiums generally scale proportionally with coverage amount, but several factors create non-linear pricing at higher face amounts.

For term insurance, the rate per $1,000 of coverage often decreases as coverage amounts increase. A $1 million term policy at age 40 may cost less per dollar of coverage than two separate $500,000 policies from the same carrier—a "quantity discount" in the rate tables.

At certain coverage thresholds, carriers require additional underwriting requirements. Policies over $1 million typically require a full paramedical exam. Policies over $3–5 million often require an attending physician's statement (APS). Policies over $10 million may require specialized financial underwriting to justify the coverage amount relative to the insured's net worth and income.

Carriers also have maximum face amounts per life—often in the $50–$65 million range for top-tier carriers—and some use reinsurance for very large policies, which affects pricing.

Illustrative monthly premiums for a 45-year-old Nevada man in good health (non-smoker): $250,000 term (20-year): approximately $45–$60 per month. $500,000 term (20-year): approximately $80–$110 per month. $1,000,000 term (20-year): approximately $150–$200 per month. $2,000,000 term (20-year): approximately $275–$375 per month.

Actual premiums vary by carrier and individual underwriting. Agents in our network can obtain quotes from multiple A-rated (A.M. Best) carriers for any coverage amount.