An Anonymous Billionaire Purchased A Record Breaking $US201 Million Life Insurance Policy

Dovi FrancesWikimedia CommonsDovi Frances sold the record-breaking life insurance policy.

A “well-known” U.S. billionaire has purchased the most expensive single-life-insurance policy in the world, according to Guinness World Records.

The life insurance policy the billionaire purchased is valued at $US201 million.

Guinness World Records didn’t reveal the billionaire’s identity, but they did provide a couple clues.

The billionaire lives in Silicon Valley and they’re “actively known in the technology space.” (That still doesn’t really narrow it down.)

The record-breaking life insurance policy was sold by Dovi Frances, a managing partner of Santa Barbara-based SG LLC — a firm that advises high-networth clients on their complex financial needs.

Putting together the policy required over two dozen insurance companies, he said in a statement.

“Bringing this transaction together required negotiating concurrently with over two dozen insurance companies and complex underwriting requests from each insurance company.”

The previous record holding life insurance policy was $US100 million.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at