Are You Covered? How About Alien Abduction Insurance?

Those who are regular readers of my columns or of my books know that when I talk about disaster preparedness, I also talk about the value of insurance. We all know we need things like homeowners insurance, health insurance, and car insurance to protect our property and loved ones.

But, what about insurance for some less likely events? As the saying goes… “Meanwhile in Florida…”

A Florida company is selling Alien Abduction insurance. According to Yahoo New, the St. Lawrence Agency, also known as the “UFO Abduction Insurance Company,” offers a very specific type of policy: For just $19.95, you can protect yourself against extraterrestrial encounters.

The insurance plan, which includes $10 million in coverage, was invented by Mike St. Lawrence, who describes himself as being in the “humor business.”

All kidding aside, the success behind St. Lawrence’s alien policy is very real. He says he’s sold nearly 6,000 plans since first launching his company in 1987.

The policy offers plenty of absurd benefits for any would-be abductees, including psychiatric care, “sarcasm coverage” and “double identity coverage.” For just $5 more, customers can also get a paper certificate as evidence of their purchase.

But if you are expecting to cash in on a huge windfall in the event of a close encounter of the fourth kind, be sure you read the fine print before you buy. In the event of an abduction, the plan’s $10 million coverage pays out at a rate of $1 per year… over the next 10 million years.

St. Lawrence told Florida news station, WFLA, he’s only paid out two policies since launching his business, one of which involved a customer who submitted polaroid photos of what he claimed were aliens.

Strangely enough, The St. Lawrence Agency isn’t the only company that offers abduction insurance.

London’s The Daily Telegraph reported on Grip, a British company that claimed to have sold more than 37,000 alien-based policies. Another English broker called Goodfellow Rebecca Ingram Pearson also briefly offered abduction insurance in the 1990s, but later discontinued its plans after the UFO religious cult Heaven’s Gate, purchased a number of policies for its members.

Neither St. Lawrence nor the others have said if they offer a double indemnity rider for anal probing!