Mystery Billionaire from California, United States Buys World's Most Expensive Record-Breaking and Record Setting $201 Million Life Insurance Policy.
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
"Why this mystery billionaire has
insurance policy when he has so many other
assets"?
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.”
 |
| And get even a lot bigger |
Al-ḥamdu lillāh: الحَمْد لله) We are gratefull to Allah Almighty The Lord Of All The Worlds.He Exalted taught us the knowledge which we never knew.To Him we bow our heads in thanks for His showers of blessings which He bestowed upon us without which this blog would have never seen the light of the day.
policy belongs to to a well-known technology billionaire from California.
Now the burning question is:
"Why this mystery billionaire has
bought such a massive and expensive life
insurance policy when he has so many other
assets"?
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.
source:http://www.forbes.com/sites/natalierobehmed/2014/03/14/mystery-billionaire-buys-record-breaking-201-million-life-insurance-
| ||
Thanks State Life Online |
I was pinning away for such type of blogs, thanks for posting this for us.
ReplyDeleteaffordable whole life insurance veteran descendant
Nice service there are just few who are providing this service great job.
ReplyDeleteINSW