What Is Jumbo Life Insurance? 
Jumbo Life Insurance is a policy with a face value of at least $ 20 million . The majority of the time , such a policy would be underwritten and guaranteed by more than one insurance company , as the risk of such a large claim is more than a company will typically take on one life . These plans are typically used for business cases with an owner or other key member has an massively high net worth , or is otherwise obtained for estate planning purposes . 