What Is Jumbo Life Insurance? 
A jumbo life insurance policy is a life insurance policy with a face amount so large that one insurance company can not take all of the risk to pay the claim . There are several large reinsurance companies that insure the insurance company to cover that large claim . The most recent case involves a world record policy written in California to a Tech Billionaire for a face amount of $ 201 million that actually used 19 different insurance companies so no one company had more than $ 20 million in risk . 