Insuring against a ghost of a chance of disaster

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If you are worried about alien abduction or living with a poltergeist or ghost, there’s always the option of covering the risk with insurance. Most people know they can take a policy out to cover their life, sickness or unemployment.

But few are aware that insurers will accept claims for outlandish claims providing the right cover is in force. In the United States, it’s long been in vogue for celebrities to insure their million dollar legs, voices and other key features that have brought them fame and riches.

Insurance tips for expats

Here are some insurance tips for expats:

  • Global medical treatment – Friends Life and Best Doctors let policyholders access a worldwide network of medical specialists
  • School and university fees – It’s OK putting aside savings, but if a family has little in the way of assets if the breadwinner dies, this cover pays out to make sure the cost of a private education is covered
  • Company health schemes – a warning for expats. Company health schemes cover employees but not someone who leaves their job due to injury or sickness. Expats should check the wording of their corporate cover and look to plug any holes with a private policy

Strange insurance policies

And here are some of the stranger insurance policies:

  • Day one cover to protect income – A few insurers will pay from the first day of sickness, injury or disability that stops someone working – although the first day often means the third day according to the small print.

The self-employed are keen on day one cover rather than policies that will not accept a claim until between three and twelve months have passed

  • Alien abduction – Not many customers are near Area 57 in the Nevada desert or the Bermuda Triangle, but those concerned that they may be beamed up to space for otherworldly experiments can cover the risk.

Lloyds of London suggest that 20,000 people have taken out polices guarding against abduction by extra-terrestrials

  • Ghouls and ghosts – Ghost brokers are more likely to be fraudsters than hauntings, but insurers have covered businesses against the possibility of death or disability arising from paranormal activity such as ghosts, poltergeists and other scares from the spirit world
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