Largest Life Policy in History $201,000,000

[Justin Bilyj]

Total BS.

But pretending like the use of it is somehow damaging the system or that those who can place a lot of money into it are ruining life insurance is nonsense.

Have you not looked around lately Brandon? With the tax the rich mentality blooming during a time when the rich vs poor disparity is only increasing I will disagree with you. Now if everything was hunky dory than I would say not to worry, but like Caspian reminds us, that's not how some liberal proponents will look at it, which CAN ruin life insurance.

never discount populism...

 

[sshafran]

Not sure why this is so much of a big deal. I sold a $15,000 FE policy on Wednesday. That's newsworthy, right? ...right? Never mind.

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[FEX Quotes]

The most interesting thing was this case came from a DM lead...

"When SG began in 2010, it solicited new business with a direct mail campaign, which the billionaire answered and subsequently became a client"

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Forbes is suggesting it might be Elon Musk

Mystery Billionaire Buys Record-Breaking $201 Million Life Insurance Policy - Forbes

 

[axeman462]

...How do you have 1 policy split between 19 different carriers?

 

[goillini52]

Can you imagine the commission on that?!

 

[DHK]

...How do you have 1 policy split between 19 different carriers?

It's called re-insurance.

 

[BNTRS]

Have you not looked around lately Brandon? With the tax the rich mentality blooming during a time when the rich vs poor disparity is only increasing I will disagree with you. Now if everything was hunky dory than I would say not to worry, but like Caspian reminds us, that's not how some liberal proponents will look at it, which CAN ruin life insurance.

never discount populism...

I took issue with the claim that doing this is a problem, and the claim that by using this product in this fashion costs tax payers $265 billion.

I don't doubt that there are people who would like to stop it to try and raise tax revenues, but that won't work for obvious reasons.

And since most members of Congress are wealthy Americans who own these products, it's unlikely they'll change course on it.

 

[Mehler91]

I know someone involved in this sale. The client is Michael Dell and the premium is $1,200,000 per month.

 

[sshafran]

I know someone involved in this sale. The client is Michael Dell and the premium is $1,200,000 per month.

Per month or year?

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[Mehler91]

Per month or year?

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Per Month. Most of the policies are whole life that they are using and there is 1 IUL from what I have been told.