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Interesting Facts You Probably Didn't Know About Insurance

Jul 06, 2022

Insurance

Interesting Facts You Probably Didn't Know About Insurance

Insurance is a multi-billion dollar per year business. In addition to Starbucks spending more money each year on health insurance than on coffee, there are many insurance facts that are quite interesting. While many people believe that insurance is boring, many people think it is fascinating. If you look into the history of insurance, you will be able to uncover a multitude of interesting facts, some of which may be quite surprising.

  1. Jackie Chan Can't Get Health Insurance

    Jackie Chan and his team of stuntmen are uninsurable. The cost of their medical care is extensive. Because of the risks they take while they are working, insurance companies are unwilling to assume the financial burden. Instead of worrying about insurance, Chan pays for all of their medical expenses out of his own pocket. This is part of the reason he makes many of his films in Hong Kong, where the rules and guidelines aren't as strict.

  2. America Ferrera's Smile Is Insured for $10 Million

    When Aquafresh chose to sponsor America Ferrera, they did so because of her beautiful smile. If her smile was ever damaged in any way, she could potentially lose her sponsorship and the income it brought with it. By insuring her smile, teeth, and gum, she was able to protect her earning potential for as long as the Aquafresh sponsorship was in place. This secured her financial future if something ever happened to her smile.

  3. Insurance Contracts Began in 1347

    Ancient civilizations had concepts that were similar to the insurance policies we have in place. Even though “insurance” was around for thousands of years, the first actual contract or policy was not signed until 1347. The contract was signed in Genoa, Italy, where the concept of a contractual agreement was invented. Contracts were often backed by large estates and plots of land.

  4. Gene Simmons Insured His Tongue for $1 Million

    When KISS achieved its iconic status in the 70s, it was known for three things. First was the black-and-white make-up. The second was their theatrical stage show. Finally, Gene Simmon's tongue was also a major attraction. The bassist capitalized on his facial asset and insured it for $1 million. Insuring his tongue for such a large amount of money guaranteed that he would be reimbursed if anything ever happened to it.

  5. Alien Abduction Insurance Is a Real Thing

    For hundreds of years, the concept of life in outer space has been debated, so much so that insurance company has capitalized on the concept and started offering UFO insurance that protects against alien abduction. In 1987, the UFO Abduction Insurance Company in Altamonte Springs, Florida, began offering abduction insurance to individuals who were interested in purchasing it. The policy is for $10 million and will only pay out if the claim meets the required standards listed in the policy.

Also Read: Frequently Asked Questions About Hotel and Motel Insurance

Want to Know More Interesting Insurance Facts? Contact Graystone!

With everyone trying to stay informed about their insurance policies, others find humor in some of the unordinary facts that surround insurance. Contact the agents at Graystone Insurance Group to learn more about your insurance policy. You may even learn a few interesting facts that you may not have ever thought of. We will help you find the answers to all of your questions. You can also subscribe to our blog to learn more such interesting facts about insurance.

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