An unnamed Silicon Valley billionaire has purchased the world’s most valuable life insurance policy, and Guinness Book of World Record officials say the $201 million life insurance policy is more than double the previous record.
A Southern California financial services company that helped put the deal together declined to identify the buyer for safety reasons.
The previous record, which has been more than doubled, was set in 1990 when Peter Rosengard sold a life insurance policy to an unnamed America entertainer for $100 million (€71.8 million).
Frances said securing the sale was “complex” and required negotiating “with over two dozen insurance companies”.
A statement released by Guinness World Records said:
The well-known billionaire client who bought the single-life-insurance policy resides in the Silicon Valley area of California and is actively known in the technology space.”
Some bizarre insurance policies have been taken out by the rich and famous over the years. Mariah Carey insured her legs for $1 billion in 2006, while ’80s rocker David Lee Roth shelled out $1 million to insure his sperm in a bid to avoid potential paternity suits.
Agencies/Canadajournal
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