Kathmandu. Across the UK, Europe and the US, thousands of people buy “alien abduction insurance policies” as a unique protection against encounters with extraterrestrials.
This trend began in 1987. That’s when the UFO Abduction Insurance Company of Florida, run by Mike St. Lawrence, began selling novelty coverage for a one-time fee of about $20. Insurers could receive up to $10 million in benefits for psychiatric care, loss of wages or emotional distress if they could prove they were taken by aliens. However, payments are structured as $1 per year for 10 million years.
London-based firm Goodfellow Rebecca Ingram Pearson later began offering similar policies and sold more than 30,000 policies across Europe. The premium was around £150 and the payment reached millions. London-based Lloyds is also reported to have issued thousands of such insurance covers.
The St. Lawrence-based company claims to have sold more than 6,000 policies and paid off two people. That includes an issue supported by an alleged alien implant investigated by an MIT professor.
The Florida firm markets this insurance product in a comical way. Added features such as satirical coverage and double compensation for alien pregnancy or frequent visits. None of the mainstream insurance companies treat alien hijacking as a standard risk. Still, the insurance is still in demand among loyal and joking buyers.
These policies highlight the light-hearted side of the insurance world. Public fascination with UFOs turns profits. However, very hard evidence is needed. Which is almost impossible for the insured to provide.
Under this insurance scheme, the big claims have not been converted into reality till date. –Insurance News BD
