When it comes to insurance, most people think about the basics - health, life, home, auto. Some people consider disability insurance as well. However, most people don't think that they'll need alien abduction insurance, and most men don't think about getting paternity insurance. But these insurance policies are real. Here are some of the bizarre things you can actually get insurance coverage for:
Alien Abduction If you are concerned about being abducted, against your will, off the planet Earth, you can purchase insurance that might help compensate you for the psychological and physical damage you experience. You can get coverage for a relatively low amount ($25 to $50 for a lifetime policy), and the payout can be up to $10 million. Of course, if you do make a claim, you are likely to find that the payout is $1 to $5 a year – for the next 2 million to 10 million years. Make sure you read the fine print. For more read from alien abductions to celebrity body parts, people insure the wackiest things.
Paternity Are you a ladies' man? If so, you might consider paternity insurance. This is an insurance policy that is purchased to help cover the costs of a paternity suit, if one is brought against you. The insurance could help you cover the costs of child support as well. It's extra insurance, for just in case other precautions don't work.
Fantasy Football There are a number of hard core fantasy football players out there, marshalling their teams and vying for number one spots, proving that they could be great coaches. While many leagues are free, there are also plenty of paid fantasy football leagues. So, what happens if you are paying to play fantasy football, but one of your picks is injured? You are out the money – and the season. Unless, of course, you have insurance. Fantasy Sports Insurance is a company that will insure your fantasy team players, no matter which sport you follow. If your star player sits out a specified number of games, your fantasy league entrance fee will be refunded.
Wedding It's supposed to be the most memorable day of your life. But your wedding can also be very expensive. What happens if you shell out $10,000 to $30,000 for a wedding, and it doesn't happen? That's a lot of money you'll never see again. More and more people are opting for wedding insurance coverage. You can be reimbursed for your expenses if the wedding is cancelled due to weather, death or illness, or because the couple decides not to go through with it. It's also possible to get wedding insurance that will help you pay for damages to wedding pictures, stolen gifts and damages to the bride's wedding dress or other items in her trousseau. For more, read wedding insurance smoothes the path to the altar.
Reincarnation Worried about being reincarnated into a dog in your next life? Or maybe you're concerned about the financial circumstances in your next life. In order to protect against such calamities, consider purchasing reincarnation insurance. It's designed to compensate you for wherever karma places you on your next earthly sojourn. However, there's a rub. You'll have to figure out who you were in your last life in order to make a claim. Then there's the trouble of filing a claim as a dog. You may just have to wait until yet another life for your payout.
Prize Payout Some game shows don't want to pay up if you win a major prize. One of the most famous examples is the show "Who Wants to be a Millionaire?" which insured against having to pay out major prizes. The idea was that if someone actually did become a millionaire, then an insurance company would cover the prize money. Others have insured against big prizes as well. Taco Bell once insured itself against having to give everyone in America a free taco and a whisky company covered itself in the event someone actually captured the Loch Ness Monster.
Kidnapping No one wants to think that they'll be kidnapped. But if you're worried about it, you can purchase a policy to cover you. And, in actuality, wealthy families and companies are known for buying kidnap and ransom coverage. Wealthy families know that their children could be targets for ransom schemes, and companies know that key people in places like the Middle East, South America and Russia can be kidnapped and held for ransom.
Horse Breeding Only those involved in horse racing would truly understand this insurance policy. However, there are several insurance companies that offer policies that will protect you in the event your horse can't breed. This is important, since many horse owners make a tidy profit by allowing mares to mate with prime stallions. If it turns out that your healthy horse can't reproduce, you could get a payout to compensate you for what you would have lost.
Lottery Winnings This insurance is designed to protect employers. In the United Kingdom, it's possible for employers to purchase insurance policies that offer a payout if two or more workers leave because they won the lottery. The costs of replacing employees can be high, and having good workers leave due to a large change in financial circumstances can leave an employer in the lurch.
Key Business Players In some cases, the CEO, CFO or other prominent figure in a company is so important that the company insures these people. It's often called "Key Person" or "Key Man" insurance. Apple insured Steve Jobs and Microsoft did the same for Bill Gates. This way, the company gets a pay out if its financial future is affected by the loss or disability of a key player.
Bottom line: In the end, it's possible to get an insurance policy for almost anything. As long as you are willing to pay the premium, and the insurance company feels it's taking on an acceptable risk, it's possible for you to protect those things that are most important to you, whether you're concerned about your next life or your lavish wedding.