We’ve all heard of bizarre insurance policies. Jennifer Lopez insured her bottom; Heidi Klum insured her legs, and Bruce Springsteen took out a policy on his voice. (In their defense, each of those insured items is arguably an irreplaceable business asset.)
Wealthy individuals are known to take out kidnapping insurance policies. If the family is forced to pay out a ransom, the policy reimburses them. Others insure wedding costs against the possibility of cold feet. (Weddings certainly costs tens of thousands of dollars, but if that isn’t more cynical than a pre-nup, what is?) But however weird that may be, here’s one bizarre policy that takes the cake:
Alien Abduction Insurance
Let’s repeat that one more time: Alien Abduction Insurance.
You might be wondering, whatever could that be? Insurance against a third kind of strange encounter? They can’t possibly sell that. Who’d buy it?
Well, rest assured, they do in fact sell alien abduction insurance. Policies are pretty varied: some are in jest, and others are just vehicles to fleece conspiracy-prone consumers.
Abduction insurance front-runners Goodfellow Rebecca Ingrams Pearson, a London-based insurance house, sold policies up until 1996 for a premium of approximately $155 per year. Provided that the abductor was, in fact, not from our home planet Earth, the policy would pay out around $160,000 dollars. (Right around $213,000 in today’s dollars.)
Policies were also available to guard against the possibility of alien impregnation. Being that the limits of alien technology are not known, men were also eligible for the alien impregnation policy. In all cases, the burden of proof is on the claimant to prove that an abduction took place.
For a short period of time, Goodfellow Rebecca Ingrams Pearson ceased to offer the policies after members of the Heaven’s Gate cult purchased abduction policies before their mass suicide. Concerned about lawsuits, the firm stopped selling the policies. Then greed got the better of them, and they resumed taking premium dollars in exchange for abduction policies.
To date, there has been only claim reported against any Goodfellow Rebecca Ingrams Pearson policy. That claim was later revealed to be a publicity stunt.
Florida-based UFO Abduction Insurance Company offers a much more tongue-in-cheek approach. Successful claimants receive $1 per year until death with a maximum $1 million cap. To date, there have been two successful claims paid out. The firm also offers reincarnation experience in the amount of up to $10 million. (Doubled if you return as a lower life form.)
Get a Bizarre Insurance Policy
For those of you who have a serious interest in an off-the-path insurance policy, feel free to contact your insurance agent. Just about anything can be insured, although some of the more peculiar policies require going overseas to a UK insurer.
You might find that your request is more easily filled than you think. Most property can be insured through a personal property policy.
And, despite all the jokes about J-Lo’s derriere and Springsteen’s vocal cords, you really might have a legitimate monetary reason to insure particular parts of your body. Surgeons may wish to insure their hands, and professional musicians may wish to take out policies on their sense of hearing. For folks in these situations, the best bet is usually a personal disability policy. These sorts of policies will generally include any physical tragedies that force you out of work.
And if you don’t need a multimillion dollar policy, you can probably shop for insurance quotes right here in the United States.
Published or updated April 4, 2013.