Loans

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.

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