Do Celebrities Need Life Insurance?

I did some major research on how much a policy would cost.  As a rough estimate, I looked at what a healthy, non-smoking 40 year old male celebrity would pay if they bought a permanent life insurance policy.  I looked at policies worth $1,000,000 dollars, $2,500,000 dollars, $5,000,000 dollars and even a $10,000,000 dollar policy.  The rates shown here include the top 3 affordable companies to compare what they might charge both monthly and annually.

$1,000,000 Term Life Insurance Quotes for Male Aged 40
Top 3 Companies Whole Life & No Lapse Universal Life
Monthly Annual
North American $406.00 $4,788.00
Prudential                 N/A $5,075.90
Nationwide $448.00 $5,182.00
$2,500,000 Term Life Insurance Quotes for Male Aged 40
Top 3 Companies Whole Life and No Lapse Universal   Life
Monthly Annual
North American $1,006.00 $11,868.00
Prudential                 N/A $12,497.58
Nationwide $1,120.00 $12,955.00
$5,000,000 Term Life Insurance Quotes for Male Aged 40
Top 3 Companies  Whole Life and No Lapse Universal Life
Monthly Annual
North American $2,006.01 $23,688.00
Prudential                 N/A $24,867.06
Nationwide $2,240.00 $25,910.00
$10,000,000 Term Life Insurance Quotes for Male Aged 40
Top 3 Companies  Whole Life and No Lapse Universal Life
Monthly Annual
North American $4,006.01 $47,268.00
Prudential                 N/A $49,606.01
Nationwide $4,479.99 $51,820.00

(Disclaimer – These rates are good as of February 20, 2013)

Celebrity Privacy is Everything

Sometimes we love our celebrities a bit too much.  The tabloid industry is probably a billion dollar business on its own.  Celebrities value their privacy, and they should know there are laws to protect them, especially when it comes to something like life insurance.

Huge life insurance policies like the ones quoted above will require a medical examination, and celebrities are always concerned about such private information leaking out their fans.  A celebrity’s health is really none of our business.

Fortunately, the U.S. Department of Health and Human Services has a law in place that protects the privacy of our health information for all of us, including celebrities.  It is called the HIPPA (The Standards for Privacy of Individually Identifiable Health Information).

In a nutshell, the HIPPA Law is the national standard for the protection of health information while it is being transmitted, and protecting the disclosure about the health of the people during that process.  The public does not have a right to know!

How Does a Celebrity Apply for a Life Insurance Policy?

Considering that many celebrities will require large size policies, they will have to provide some financial justification for these larger policies.  Most likely, they will have to get their accountant to provide a statement about their net income and their worth to the life insurance company when they apply.

Where Can a Celebrity Find and Buy the Best Life Insurance Plan?

You always want to talk to an independent agent like myself.  We can access and research dozens of companies so you are assured we will find the best policy at the most affordable rates.  If you have health concerns, don’t let that dissuade you because we can give you valuable advice and help you to find a policy that suits you.

Whatever your needs or questions then please call me direct at 877 – 966 – 9383.