What is the extra cost of buying a smaller 500K whole life policy vs. a larger 1.5 million policy?
I ran comparable illustrations with different face amounts, and in that scenario the extra cost of the smaller policy is $93 annually for a 500K face whole life or $280 for buying three 500K policies vs. one 1.5 million policy.
Obviously the exact amount would be unique to different scenarios and/or insurance companies.
Below is the math.
Ultimately it may pay to get a few smaller policies to spread the payment due dates and diversify with different carrier.