The policy is actually two dozen policies issued by 19 insurance companies, because no company could pay the beneficiaries actors of the policy upon the death of the billionaire.
SAN JOSE, Calif A Silicon Valley billionaire whose name was not disclosed purchased the insurance policy world's most expensive living.
The San Jose Mercury News reported Saturday (http://tinyurl.com/n352sla) to managers of the Guinness Book of World Records said the life insurance policy of $ 201 million is more than double the previous record set in 1990 by a "figure of the entertainment industry," who he was also not identified.
A financial services company in Southern California who helped complete the deal declined to identify the buyer for security reasons.
"We are not thugs running around trying to find Palo Alto, or who are in their own testamentary document," he said sarcastically Dovi Frances, the financial services company SG LLC, based in Santa Barbara.
Frances said that the policy is actually two dozen policies issued by 19 insurance because no company could pay the beneficiaries actors of the policy upon the death of the billionaire.
Frances did not disclose the annual cost of the policy, but said it was less than 10 million. He said Guinness executives spent six months researching before declaring the policy world record.
Several billionaires have relationships with the company where French, including the chairman of Google, Eric Schmidt and co-founder of Palantir Technologies, Joe Lonsdale.
Frances did not reveal any information about the policyholder, not even his age, but said the billionaire bought to help your heirs pay no inheritance tax of 45%.