Are we alone in this universe? This question is as old as humanity itself. For ages, people have turned their eyes to the sky and wondered if there are others like themselves out there. Area 51, countless UFO sightings and science fiction movies have inspired many people to believe that aliens exist. This has encouraged some insurance companies to give out gimmick insurance policies such as ‘Alien Abduction Insurance’.
What is Alien Abduction Insurance (AAI)?
Alien abduction insurance, also known as “UFO Insurance” or “UFO abduction insurance” is an insurance policy designed to protect humans from any kind of shock/trauma suffered as a result of an alien abduction. It is supposed to cover you if you are ever abducted or harmed by an alien.
How AAI Works?
Alien abduction insurance works the same way as any other insurance policy work. You pay a premium at a set time to the insurer. Then, the insurer provides compensation for any costs that result from being abducted by an alien. In general, to file a successful claim, you must be set to do the following:
- Provide specific information about the aliens and the type of spacecraft used for abduction.
- Provide a detailed description of the abduction incident.
- Provide the signature of an “authorized on-board alien.”
As each insurer is different, you must make sure that the policy covers the things you’re most likely to come across if ever abducted by an alien. AAI generally provides coverage for the following events:
- Psychiatric care
- Beam burns
- Compensation for lost wages
- Vehicle replacement
- Other financial losses
Is AAI Practical?
AAI is a gimmick. It is often purchased as a funny gift to friends and family as you can purchase the same for others and even add yourself as a beneficiary. If you’re worried about what an alien abduction might do to your finances or health, alien abduction insurance might not be a bad idea. But you might also want to think about policies other than AAI, such as health or life insurance as it provides coverage whether you were taken away by aliens or not.
Therefore, instead of opting for AAI, you could look for policies that cover injuries or trauma that might occur post abduction. In such a case, you would be covered whether you were taken away from Earth or not. This coverage could be financial, medical, property, etc.
AAI is not a real policy. To date, there have been more than 400,000 policyholders and just two successful claims; which reimbursed the promised $10 million in coverage in increments of just $1 per year, sent via cheque. Most real insurance policies already cover everything you’ll need if aliens do take you. As of now, there is no need for Alien Abduction Insurance.