Obscure Forms of Insurance

by admin

Although it’s widely regarded as the most tedious enterprise ever invented, the insurance business actually has some clever and fascinating niche products. Here is a sampling of policies the industry offers along with hole-in-one insurance and other lesser known plans:
The Whole Life Insurance
Ordinary or Whole Life indemnifies a normal death. The Whole Life provides expanded coverage in case you die from an overdose of wheat bread or healthy cereal. A lesser-known variant pays $1 billion to the estate of an NFL running back who is mortally crushed while moving the ball exactly nine yards (+/- the width of an electron). Other versions of The Whole Life cover lethal collisions with enchiladas, balls of wax, and magillas.

Hole Life Insurance
This coverage is cheap because it pays off only if the insured party passes on from specific causes. For one’s heirs to collect, the decedent must choke to death on the center of a donut; fall into mine shaft; get their fingers permanently stuck in a bowling ball; expire from Swiss cheese poisoning; or succumb to a brain hemorrhage after getting their head stuck in a wheelbarrow tire.
Term Insurance
One form of Term that covers only politicians doesn’t actually pay off. It merely entitles them to convert the policy to Vatical Insurance when they are voted out of office or impeached. Another version, called Full Term, is a policy that, for a mere $1 in premium, insures a pregnant woman for $10 million but pays off only if she can prove beyond a scintilla of a doubt that she carried her baby for exactly 38 weeks and 11 seconds from the moment of conception. Good luck
You can read more of this article in our March/April issue

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