Written by Chris Bendtsen
How Much Life Insurance Do High-Net-Worth Households Carry?
How Much Life Insurance Do High-Net-Worth Households Carry?
Term dominates at 85%, coverage rises far slower than wealth, and carrier satisfaction is the lowest of any product category the study measured.
Chris Bendtsen
Research Findings
High-net-worth households overwhelmingly choose term life insurance and carry less coverage than their wealth might suggest. In Long Angle's 2026 High-Net-Worth Financial Products Study, 85% of respondents with life insurance held term policies against 14% with whole life, and median coverage rose from $2.6 million for those worth $5-10 million to $4.4 million above $25 million. Satisfaction was the lowest of any category measured: 49% would recommend their carrier and 37% were unsure. Based on 165 voluntary Long Angle respondents in July 2026.
Key Takeaways
- 85% hold term, 14% whole life and 10% universal life; respondents may hold more than one policy.
- Median coverage rises from $1.8 million at $2-5 million net worth to $4.4 million above $25 million.
- Coverage is nearly flat mid-range: $2.6 million at $5-10 million and $3.0 million at $10-25 million.
- Term premiums sit under 0.1% of coverage, at $600 a year for $1 million and $2,000 for $3 million.
- Satisfaction is the study's lowest: 49% would recommend their carrier, 37% were unsure.
2026 High-Net-Worth Financial Products Report
See which banks, credit cards, brokerages, lenders and insurers high-net-worth households actually use and which they recommend. Based on insights from 165 investors, entrepreneurs and executives.
Term, by a wide margin
85% of respondents with life insurance hold a term policy. Whole life reaches 14% and universal life 10%, including indexed and variable universal structures. Respondents may hold more than one policy, so the three shares sum past 100%.
Satisfaction is the weakest in the study. Asked whether they would recommend their carrier, 49% of respondents with life insurance said yes, 37% were unsure and 14% said no. No other product category in the report produced an unsure share anywhere near 37%.
| Response | Share |
|---|---|
| Yes | 49% |
| Unsure | 37% |
| No | 14% |
Source: Long Angle 2026 High-Net-Worth Financial Products Report, 165 respondents, 81% with net worth over $5M, fielded July 2026. Shares are of respondents holding life insurance.
Respondents described slow processes, outdated technology and communication, and unhelpful agents. Several said they regretted the purchase, particularly of whole life. One put it as term being fine but not worth renewing at expiry, and whole life being a purchase they regret.
The study reports what respondents said. It is not a recommendation for or against any policy type, and product suitability depends on estate structure, liquidity needs and tax position the study did not measure.
Coverage rises slowly, then barely at all
Median coverage runs $1.8 million at $2-5 million of net worth, $2.6 million at $5-10 million, $3.0 million at $10-25 million and $4.4 million above $25 million.
The middle of that range is nearly flat. Coverage moves $400,000 between the $5-10 million and $10-25 million brackets, even though the second bracket spans three times the width of the first.
| Net worth | Median coverage |
|---|---|
| $2M - $5M | $1.8M |
| $5M - $10M | $2.6M |
| $10M - $25M | $3.0M |
| $25M+ | $4.4M |
Source: Long Angle 2026 High-Net-Worth Financial Products Report, 165 respondents, 81% with net worth over $5M, fielded July 2026. Includes respondents with multiple policies. Coverage amounts typically fall in $1M increments, so medians land between round figures.
A premium benchmark for term coverage
Term premiums among respondents sit well under 0.1% of coverage a year.
Median annual premiums ran $475 for $500,000 of coverage, $600 for $1 million, $1,500 for $2 million and $2,000 for $3 million. At $1 million that is 0.06% of coverage; at $3 million, 0.067%. Respondents holding $4 million to $13 million of coverage reported premiums of $2,000 to $10,000 a year, mostly under the same threshold.
| Coverage | Median annual premium | Share of coverage |
|---|---|---|
| $500,000 | $475 | 0.095% |
| $1,000,000 | $600 | 0.060% |
| $2,000,000 | $1,500 | 0.075% |
| $3,000,000 | $2,000 | 0.067% |
Source: Long Angle 2026 High-Net-Worth Financial Products Report, 165 respondents, 81% with net worth over $5M, fielded July 2026. Premium as a share of coverage is calculated from the medians rather than reported separately.
Premiums depend on age, health and term length, none of which the study segments, so treat 0.1% as a rough ceiling for checking a quote rather than a rate to expect.
Whole life gets sold. It rarely gets compared.
Long Angle is a vetted community of high-net-worth founders, executives and investors who compare policy structures, premiums and carrier experiences with their real names attached and no one in the room earning a commission.
Coverage sizing here tracks obligations rather than assets, which is why it flattens as wealth rises. The more useful question than how much is what the policy is replacing: income, a buy-sell obligation, an estate liquidity need. Each implies a different amount and a different structure, and the 37% of respondents who were unsure about their carrier suggests many bought before answering it.
Frequently Asked Questions
How much life insurance do high-net-worth households carry?
Median coverage ran $2.6 million for Long Angle respondents worth $5-10 million and $4.4 million for those above $25 million. These are observed amounts among 165 voluntary respondents, not a recommended level.
Do wealthy people buy term or whole life insurance?
Term, predominantly. 85% of respondents with life insurance held term policies against 14% with whole life and 10% with universal life. Respondents may hold more than one policy.
What should term life insurance cost?
Among respondents, median annual premiums were $600 for $1 million of coverage and $2,000 for $3 million, both under 0.1% of the amount covered. Premiums vary with age, health and term length.
Are high-net-worth households satisfied with their life insurers?
Less than with any other product measured. 49% would recommend their carrier, 37% were unsure and 14% would not. Respondents cited slow processes, outdated communication and unhelpful agents.
Research
