Billionaire buys $201 million life insurance policy

Somewhere in Silicon Valley, a billionaire has taken out $201 million in life insurance.

Guinness World Records, which announced the policy, said it is the largest ever issued.

Neither the record keeper nor the issuer would say who is covered by the massive policy.

Dovi Frances, the adviser who arranged the policy, would only say it went to a well-known technology billionaire from California.

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