Friday, January 15, 2016

statelife-online/mystery billionaire

Mystery Billionaire from California, United States Buys World's Most Expensive Record-Breaking and Record Setting $201 Million Life Insurance Policy.
And get even
 a lot bigger
What is his name?Who holds this record?How old he is?This is mystery.His name and age has not been disclosed due to safety reasons.The insured and the insurer both are silent.This massive policy has been closed by Dovi Frances and he only says that the 

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policy belongs to  to a well-known technology billionaire from California.

Now the burning question is: 

animated gif"Why this mystery  billionaire has

 bought such a massive and expensive life 

insurance policy when he  has so many other 


Dovi Frances, founder and managing partner of SG, LLC explains:

“In California, there are state death taxes that are exceptionally high,” “If your properties are leveraged then those loans are called immediately and need to be paid off,” said Frances. “So if you want to head yourself against such a risk [your beneficiary] can receive the proceeds [from life insurance] without being exposed to taxes.”

The millionaires and the billionaires buy life insurance due to  several reasons.
Primary among them are tax purposes, Frances also said
A wealthy estate is hit with a hefty tax bill, and there may not be enough cash to cover it, since many millionaires and billionaires hold their wealth in investments, he said.
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