6000 people on planet Earth would win the lottery if aliens abducted them.
That’s because they have been insured for it, and you can be too.(A thread...)
💸For just a one-time fee of $25, Saint Lawrence Agency in the US will give you $10M in coverage which covers outpatient psychiatric care & even “sarcasm coverage”, for any comments victims might face from family members after the traumatic experience of an alien abduction.
👉But here’s the catch - if you read the fine print of the policy, it says that in the event of an approved claim, the policy will be payable in installments of $1 per year over 10Mn years.
So, this lottery will take quite a few lifetimes to be realized, to say the least, assuming you are returned back to Earth after your abduction.
And it’s not just St. Lawrence, but many others like AIG HK or the famous Lloyd’s of London, an insurer known for offering out-of-ordinary coverages, that claim to have sold more than 40,000 of these policies. But reading this might make you think, who would buy this?
👉Really, there are two main reasons: for precautionary safety measures, or as a gag gift. And seeing the rise in popularity of these policies following the massively successful series the X-Files, we believe it’s more of the latter.
Maybe this is a marketing gimmick or catering to an extremely niche audience but these policies aren’t essential right now, at least not yet!
What are your thoughts on this?
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💡Here's how your #insurer can make you pay your own medical bill-
A thread...
👉You’re about to buy health insurance. The agent pitches a policy with a cover totaling 5 Lakhs for a bargain price of just ₹7000 a year. But then he sweetens the pot even further.
He promises to cut down the premium by 25% (roughly ₹1800/year) if only you agree to a 20% "co-payment" clause.
You think that’s amazing and you sign off on the agreement. Wow, you just saved ₹1800.
Your shabby old car can help reduce motor #insurance premiums on your new one by up to 50%!
A thread...
You heard that right.
💡This works because of a neat thing known as NCBs or No Claim Bonuses in motor insurance. Think of it as a benefit your insurer gives you for every year you don't make a claim, in the form of a nice reduction on your premiums.
This reward system can save you 20% on your premiums in 1 year to a maximum of 50% in 5 years. However, this is only applicable to the own damage(OD) part of your comprehensive policy.