Silicon Valley Billionaire Buys Record Life Policy worth $201M

An unnamed Silicon Valley billionaire has purchased the world’s best life insurance coverage, and Guinness Book of World Record officials say the $201 million life insurance coverage is more than double the amount previous record.

A Los angeles financial services company that helped put the deal together declined to recognize the buyer for safety reasons.

The previous record, that has been a lot more than doubled, was occur 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 24 insurance companies”.

A statement released by Guinness World Records said:

The well-known billionaire client who bought the single-life-insurance policy resides within the Silicon Valley section of California and is actively known in the technology space.”

Some bizarre insurance policies happen to be 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 inside a bid to avoid potential paternity suits.