What Is Jumbo Life Insurance? 
Jumbo life insurance generally describes very large life policies which exceed limits a insurer has set for the life insurance risk to be retained and handled by that insurer or by prearranged reinsurance pools . Some insurers have a jumbo limit as high as $ 65M . Reinsurance is insurance to the insurers - a way to share an insurer 's single policy risk with many . In the event an application for life insurance exceeds these limits the insurer must submit the case to the reinsurance market . 