Mystery billionaire purchases USD 201 million life insurance policy
And the award for happiest mourners goes to ...
San Francisco: And the award for happiest mourners goes to ... A well-known Silicon Valley-based billionaire has set a Guinness World Record with a life insurance policy of $201 million (Rs 1,227 crore), more than doubling the previous mark.
$27million: Amount Jennifer Lopez (left) has insured her buttocks for
According to Guinness, the new record-holder “resides in the Silicon Valley area of California and is actively known in the technology space”.
The whopping policy was sold by financial adviser Dovi Frances of the Santa Barbara-based firm SG LLC.
“Bringing this transaction together required negotiating concurrently with over two dozen insurance companies and complex underwriting requests from each insurance company,” Frances said.
The policy holder’s identity is being withheld and Frances would not reveal the mystery man’s age. “We don’t want hitmen running around Palo Alto trying to find him — or members of his own estate,” Frances joked.
The previous record policy of $100 million (Rs 610 crore) was sold to David Geffen in 1990.
Frances gets the credit from Guinness for selling the policy, as did Peter Rosengard, who was responsible for selling Geffen’s policy 24 years ago.
Most expensive insured body parts
Amount actor America Ferrera’s smile is insured for
Amount country singer Dolly Parton spent for her two assets — her breasts
Amount model Heidi Klum dished out for her toned legs
Musician Keith Richards spent for his middle finger