Buying Insurance for Parts of your Body

Body parts insurance

Currently in modern society it is possible to insure any manner of things which if lost will have a financial implication on the life of that individual. The insurance of body parts is something which may sound unusual, but is perfectly legal and is steadily on the increase.

What is meant by body parts insurance?

Body parts insurance is a type of insurance which is most commonly related to the celebrity field but it is not something which is strictly limited to that industry. It is a form of insurance which can offer financial cover and protect an individual’s livelihood if they rely on a specific part of their body to earn a living.

What is the purpose of body parts insurance?

The purpose of body parts insurance is in paying out financial compensation for any accidental damage or disfigurement caused to the insured body part. The key point to note here is that the insurance policy will only pay out if the damage to that body part results in a loss of work and thus income.

What kinds of people take out body parts insurance?

Body parts insurance is available to anyone who requires a specific part of their body to be able to carry out the job which they make their living from. Accordingly the following individuals are likely to take out body parts insurance:

  • Performers – this can include musicians, singers and actors
  • Artists
  • Surgeons
  • Athletes and other sports people

What body parts are usually the subject of body parts insurance?

Body parts insurance was first heard off when fashion models began to insure their limbs. Since the regularity has increased there has been more bizarre body parts being insured such as the taste buds of a sommelier.

All that needs to be shown in order to gain this form of insurance cover is whether it can be proved that a loss of this body part would lead to a significant loss of work and income.

Why did models first start to take out this kind of insurance policy?

Individuals who work as models have a career based almost entirely on appearance and could therefore lose out on significant income if a form of disability has prevented them from winning future modelling contracts. As a result a model may decide to insure several different parts of their body ranging from their legs, their breasts and even their smile.

Does body parts insurance apply to the whole body?

Body parts insurance is not designed to insure the whole entire body of a particular individual. The intention behind it is to cover only selected body parts.

What should I do if I wish to insure my entire body?

If an individual wishes to insure their whole body it may be more suitable for them to take out a comprehensive life insurance policy.

Will this kind of insurance be available to me?

Body parts insurance is available to anyone who requires a certain body part to undertake the job by which they make their living. However, in reality it is an extremely expensive form of insurance which is why it is often left to the celebrities, sportspeople and top surgeons.

How do celebrities afford to take out these kinds of policies?

Obviously celebrities and sportspeople earn huge amounts of income which enable them to take out these policies, but often they will be done with a certain promotional aspect in mind. Often celebrities or sportspeople will be sponsored by certain companies which will pay for an insurance policy in this manner to be taken out to promote both the individual and the brand.

Is this something which has happened recently?

During 2010 a Formula 1 motor racing driver had his thumbs insured for a total of £9 million. The insurance policy was paid for by one of his sponsors which has a banking and financial sector.

Clearly thumbs are essential for an individual to drive a car meaning that if the individual was unfortunate enough to lose one or both he would no longer be able to carry on his profession and his loss of income would be covered by the insurance policy.

The sponsor also felt that thumbs and his thumbs in particular, represent a sign of victory and that everything is under control and well protected. The sponsor thought that this symbol also represented their company which is why they wished to associate themselves with that particular body part of that particular driver.