By Tempail 
The world’s most valuable life insurance policy has been issued to an individual customer of HSBC Life in Hong Kong. Valued at $250 million, this whole-of-life protection policy will pay the record-breaking sum to the beneficiary upon the policyholder’s death, ensuring the preservation of their wealth for future generations.
Previously, the highest record was a $201 million policy arranged by SG (USA) in 2014, according to Guinness World Records. The policyholder, an unnamed billionaire from Silicon Valley involved in the tech industry, chose this policy to secure $201 million for their beneficiary. SG’s president and founder, Dovi Frances, explained that the risk of the $201 million policy is distributed among 19 different insurance companies, with no single company holding more than $20 million of the risk.
Peter Rosengard, a notable life insurance salesman, once sold the highest life insurance policy amount at the time, a $100 million policy for David Geffen of Geffen Records. Rosengard’s career highlights the increasing demand for high-value life insurance, especially in Asia, where the ultra-high-net-worth population is rapidly growing. This trend emphasizes Hong Kong’s status as a premier destination for wealth management and an international insurance hub, as noted by Edward Moncreiffe.
In addition to life insurance, notable insured items include George Washington’s dentures, valued at $10 million. Displayed at Mount Vernon, these dentures are made from a mix of materials including elephant ivory, cow teeth, and human teeth, and are held in a lead base with coiled springs.
Other unique insurance policies include Jeff Rose’s $212 million policy with a $6.1 million premium for estate planning and charitable endowments, Troy Polamalu’s $1 million insurance for his iconic hair, Gennaro Pelliccia’s $14 million insured tongue for his coffee-tasting expertise, and Ilja Gort’s $7.8 million insured nose, essential for his wine production business.
These extraordinary insurance policies highlight the importance of life insurance and asset protection, particularly for the wealthy. By integrating insurance with trusts, these products can efficiently shield assets from estate and other taxes, making them an attractive option for preserving wealth and ensuring financial security for future generations