Banking

Even Billionaires Buy Life Insurance

by Richard S. Bernstein on Apr 14, 2017

Life Insurance, Banking, Loans

Even Billionaires need insurance policies (40 billionaires claim dual residency here in South Florida, according to the 2016 Forbes’ World’s Billionaires list) to protect their vast assets, massive homes, golf courses, businesses and huge liquidity needs. The record for the largest insurance policy ever purchased was for $201 million dollars, bought by an unnamed Silicon Valley billionaire and confirmed by the Guinness Book of Records. The amount of the policy necessitated it being underwritten by 19 different insurers.

Banks Believe In Life Insurance, Shouldn’t You?

by Richard S. Bernstein on Feb 17, 2017

Life Insurance, Banking, Finance

You might be surprised to learn that many banks often choose to make life insurance a significant percentage of their top-tier or “Tier 1” capital pools. Banks retain billions of life insurance on their books in order to provide liquidity to substantiate the banks’ other more risky practices. Therefore, the ability to quickly convert the dollar value of a life insurance policy into cash makes life insurance a strong asset to back up other financial investments. 

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