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Insurance covers among the rich and famous that border on the Absurd

Updated on December 5, 2013


Insurance cover is entrenched into our lives to a level where we cannot successfully operate without it, especially when we consider the risks involved in our daily undertakings. Many people take insurance cover after analyzing the terminal significance of the policy with regard to benefits accrued when one signs up with the insurer. However, due to individual differences, the significance of assets or properties varies from one person to another. What one individual regards as important may not carry a lot of weight when weighed by another person. Insurance companies have thrived on such differences to great benefit, with new needs arising over time.

It is worth noting that personal income often dictates the kind of insurance a person takes, based upon what they can afford. Those who are not very rich are compelled to buy insurance covers where they are mandatory. The rich not only go for insurance cover, but a good proportion of their covers borders upon absurd preferences.

Common insurance policies

Insurance cover greatly depends on the level of economic development in the economy. Affluent economies go for pricey covers while developing economies choose essential insurance covers. Some common insurance covers that insurance clients find necessary include; Life insurance covers, Medical insurance covers, Auto insurance covers, and Property insurance covers among many others.

Girl Sitting With Umbrella by sattva courtesy of freedigitalphotos
Girl Sitting With Umbrella by sattva courtesy of freedigitalphotos

Life insurance covers

Life insurance cover is considered to be essential by most clients in view of the fact that life is terminal. We expect to pass on at any time. This drives our desire to leave our dependents’ in better economic standing.

Medical insurance covers

Medical insurance covers bring welcome tidings to clients especially where they fall ill and require large amounts of money to offset medical bills. People fall sick often and therefore need this cover. Those who fail to get medical cover have to meet their bills from their wallets.

Auto insurance covers

We travel on busy roads every day while mingling with other drivers and road users whose physical, social and mental orientation is unknown to us. Chances of meeting drunk drivers speeding on the highway abound. There are drivers who are sick, psychologically unstable and even those who are mentally disturbed. This increases our chances of being involved in nasty road accidents. This aspect has made many governments to enforce a mandatory Auto insurance cover for all vehicle users in view of the fact that you could be the offender or the victim in road accidents.

Property insurance covers

Property insurance covers work very well for those who have invested lots of money into property, businesses or assets. Chances of burglars breaking into one’s property abound. Incidents of fires consuming your properties also exist. Natural disasters have become common place, and hence the need for insurance cover.

Insurance covers among the rich and famous that border on the Absurd

The rich and famous will always have their way when it comes to deciding what is to be secured in their lives, and what is not. They always secure what they perceive to be their most pricey assets. Interestingly, parts of their bodies that help in raking in the billions of dollars they make in business count a lot. Celebrity media sources have recently revealed the following information relating insurance habits of the rich and famous;

Interesting insurance covers

Part insured
Amount insured
Mariah Carey
$1 Billion
Fame - Gillette’s legs of a goddess award in 2006
David Beckham
$70 Million
Injury leading to early retirement in soccer
Michael Flatley
$40 Million
Injury leading to early retirement
Jennifer Lopez
$27 Million
Injury leading to early retirement
Tom Jones
Chest hair
$7 Million
Injury to chest hair by fire
Rod Stewart
$6 Million
In case he wakes up without a voice
Dolly Parton
$3.8 Million
In case of injury
Lee Curtis
$2.8 Million
Leg injury on stage
Heidi Klum
$2.2 Million
If injured on the catwalk
Keith Richards
$1.6 Million
Against inability to play guitars
David Lee Roth
Male seeds
$1 Million
Against siring with group singers

Pricey legs

A simple analysis of the sample of information in the table reveals that 50% of these stars perceive their legs to be their most assets. This is in view of the fact that most of their monies are earned on stage doing a lot of footwork or regard for beauty as in Mariah Carey’s case.

Other significant assets

All the other celebrity assets follow in significance with 8.33% each going towards bottoms, chest hair, voice, breasts, hands and male seed. In the social spheres of common men and women, these assets would hardly be perceived to be the most significant parts of their assets.

An insurance salesman once said, perhaps we ought to consider insuring our eyes for the role they play in our daily lives. Another insurance salesman pointed out that teachers ought to insure their hands for their value in giving instructions to pupils in class, which leads to their income.

Businesswoman Holding Briefcase and umbrella by imagerymajestic
Businesswoman Holding Briefcase and umbrella by imagerymajestic | Source
Man In The Rain by savit keawtavee
Man In The Rain by savit keawtavee | Source

Suppose this happens or does not happen?

Some people feel that insurance covers are not necessary because, ultimately, they will meet their death, hence do not see need to insure. They also reason that premiums paid on a monthly basis are expensive. The final benefit is usually projected into the distant future when the value of money will have depreciated considerably. They consider insurance to be a necessary social evil, and yet insurance companies continue to thrive. Covers are usually pegged upon non-existent contingencies that eventually never happen. They only serve to make business people feel safe or financially secure when conducting business, while keeping the insurer in business.

For insurance companies to remain operative, at least 75% of covers to clients should not lead to claims for compensation. If 25% of clients come for compensation, this is regarded as safe towards keeping the insurance company afloat, not to mention fraudulent claims. If the reverse occurs, then doom is spelt out for the company involved. Therefore, many insurance companies pray that none of the clients will end up requesting for compensation.

Clients should also be aware of the fact that the value of their covers during present times reflects deep into the future, when the real value will have depreciated considerably given the economic fluctuations and upheavals that occur locally and internationally. One million dollars in the present times may not have the same value in ten, twenty or thirty years’ time. If you could get the money today, it would be worth something. The prime question in our minds is “Suppose this happens or does not happen?” This is what makes us go for insurance- uncertainties in life.


Insurance cover is therefore necessary in view of expected future losses touching on an insurance client’s life, health, travel and property. People have different fears depending on what they do in order to earn a living. They will therefore cover what they deem to be most dear to their lives and cannot afford to let go. However, some insurance covers may sound absurd especially if the insured item is regarded as least significant in an insurer’s life.

Celebrities and tycoons are well known for covering strange things. They too think they have sound and logical reasons for such covers. It is therefore necessary to establish the reason why such people go for certain covers that are not considered essential by common men and women. Uncertainties in life will always make us go for insurance.

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