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Dublin: 5 °C Friday 13 December, 2019
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‘Well-known’ billionaire buys record-breaking €144 million life insurance policy

The payout more than doubles the previous world record, sold in 1990.

Money money money.
Money money money.

THE WORLD’S MOST expensive life insurance policy has been sold to an anonymous America billionaire for $201 million (just over €144 million).

Guinness World Records confirmed that the policy was sold to a “well-known US billionaire”.

The policy was sold by Dovi Frances, the president of SG – a company based in Santa Barbara, California.

The previous record, which has been more than doubled, was set in 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 two dozen insurance companies”.

A statement released by Guinness World Records said:

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

Some bizarre insurance policies have been 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 in a bid to avoid potential paternity suits.

Read: €168m in claims were paid out by Irish Life last year — including one of over a million euro

Read: Mariah Carey’s dress at the BET Honors last night was pretty… special

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About the author:

Órla Ryan

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