Celebrities are often reported to do a lot in order to preserve their jobs and perhaps, the images they portray. How they do this is they insure the body parts on which their livelihood depends on it may be voice, smile or even finger . But, as the readers will now see, the choice is not limited to feet, and it is high time people turned to critically consider this tendencies that gained popularity among such celebrities as Nick Cannon, David Beckham, and Mariah Carey.
But still as it relates to the highest body part insurance policies, some celebrities go extra ordinary. For instance in 2006 David Beckham insured his legs for more than £100 million, thus ranking within the biggest personal insurance policies. Argentine Lionel Messi’s left foot is insured for an amazing $900 million in recognition of the emergency of football to his game.
Other examples include:
The most recent piece of news that might shock everyone is that Nick Cannon, a man with twelve children, recently decided to insure his balls for 10 million dollars. When I spoke to Entertainment Times about this he said, “I had to insure my most valuable assets.” It is like when you hear like all these different celebrities insuring their legs … so I was like, ‘well, I got to insure my most valuable body part.’ This decision let alone was not about the expansion of his family but the security of his wealth.
Celebrity chef Gordon Ramsay also took a step to protect his most important tool: his tongue. Based on this show and his many restaurants, people know that he loves to taste food so it made perfect sense that he insured his tongue for $10 million. In fact, this sense is the basis of his activity in the sphere of cookery, and therefore it is vital to him.
What does it actually mean to insure some body parts? Taken literally, body part insurance is a kind of niche insurance for people who insure only parts of the body essential for work. This kind of insurance is mostly taken by the celebrities, athletes, performers and any other persons whose major source of income is the looks. For example, Heidi Klum had insured her legs for $2 million but one leg is insured for more than he other because she had a scar while growing up. These policies are meant to enable the insurer to expect compensation in the event such body parts get damaged or deliberately affected.
Well then, what is body part insurance? In simple terms we can conclude that body part insurance is in fact a type of disability insurance. In case an individual loses a body part that is vital in their career, the insurance pays and amount that reflect that income. The party seeking compensation must prove that the aforesaid body part is significantly valuable, that the loss of such a part will have a huge impact financially on the party seeking compensation.
For example, Mariah Carey had to cover her legs and her vocal cords during her tour because if she lost the use of either she would be through.
While it’s mostly celebrities and high-profile individuals who take out these kinds of policies, you might wonder: are people able to insure their body parts? Theoretically, yes. Any person who has his livelihood depending on certain body part could possibly meet the requirements to be covered under this kind of insurance. But the premium rate usually restrains this solution to celebrities, athletes or other uniqueness important career reasons.
The body part insurance premium can be really steep. In relation to the type of coverage and body part as well as the value accorded to it, premiums can easily go to millions of dollars. For instance, Priyanka Chopra Jonas once ‘insured’ her smile for $10 million or 75 crore INR; on the other hand, Keith Richards of Rolling Stones once insured his middle finger for $1.6 million or up to 1 crore INR. Actualizations are estimated with respect to the risks of damage occurring and its implications to average insured’s career.
The payments pertaining to body parts are agreed to compensate for the loss that is suffered due to impaired body part or its disablement. For example, if a singer becomes unable to sing because of, for example, illness or injury, his/her insurance company would compensate depending on the expected loss of earnings. In the same way, if an athlete loses his/her ability to practice or compete due to an injury of a certain limb or body part, the insurer honors the policy.
In India, the trend of insurance of body part of Indian celebrities is also on the rise. There are rumours that Priyanka Chopra Jonas was insured her mouth for $10 million, and Amitabh Bachchan for his voice, which show that such policies are essential in the film fraternity. So, even in Bollywood celebrities know that it is critical to protect the best of the best in the entertainment business.
Here’s a quick list of some famous names and their insured body parts:
Thus the world of body part insurance and other slicing and dicing policies comes to life in The Extraordinary World of Body Part Insurance. Insuring body parts may sound like some people are out of their minds, but for celebrities and athletes, they are among the brightest people to ever live. Body part insurance means no matter if it’s smile, a voice, or leg, their financial security remains intact if disaster happens. The premiums are high, the stakes are equally high, particularly for those people who depend on their appearances to earn a living – this kind of insurance pays for itself. Moving from the testicals of Nick Cannon to smile of Priyanka Chopra, the body part insurance industry is on high rise. Whether you are an athlete, actor, or famous TV chef, keeping your looks, your main asset, intact is always prudent.
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