What is alien abduction insurance?

Key points

• Alien abduction insurance, offered by the Saint Lawrence Agency in Florida, “protects” you in the improbable event that you’re kidnapped by an extraterrestrial.
• The company makes it clear that it’s a novelty policy, though.
• If there is ever an actual alien invasion (never say never, right?), it might help to know that some of your existing insurance policies may provide some form of protection.
• While you’re thinking about insurance, it’s a good time to make sure you are properly insured for more earthly events.

Alien abduction insurance is certainly one of the strangest types of insurance policies out there, if you can call it that.

There is one sole company that sells it, and no, it’s not a real insurance product. But if you or your friends are into the possibility of a close encounter of the third kind, you might be interested in buying a “policy” as a gag gift.

Here’s what you get with alien abduction insurance, and a look at how your existing insurance policies may actually cover you if an alien invasion takes place on Earth.

What is alien abduction insurance?

Alien abduction insurance is a novelty insurance policy offered exclusively by the Saint Lawrence Agency in Florida since 1987. As its name suggests, it provides financial benefits if you’re abducted by an alien.

While there have been reports that Lloyd’s of London, which is world-renowned for its unusual insurance policies, has also sold alien abduction insurance, there’s been no confirmation from Lloyd’s itself.

What does alien abduction insurance cover?

Alien abduction insurance offered by the Saint Lawrence Agency offers $10 million in coverage in the event that you’re abducted from planet Earth by an extraterrestrial (you can go ahead and have a chuckle now). To be clear, the policy is not for real.

Case in point: The insurance certificate includes coverage for multidimensional joy rides and sarcasm from immediate family members. You can also qualify for double indemnity coverage ($20 million) if any of the following occur:

• The alien insists on conjugal visits.
• The encounter results in offspring referred to as the “missing link.”
• The alien refers to you as a nutritional food source or “the other white meat.”
• You can provide proof of your abduction and return with a claim form.

The insurance agency’s website states that anyone is eligible regardless of age or frequent-flier status. It also sells monoliths, which you can get engraved with your name.

What are the limitations?

According to an interview in Leader’s Edge with the Saint Lawrence Agency founder Mike St. Lawrence, getting a payout is virtually impossible, as it requires a signature from an onboard alien that participated in the abduction.

According to St. Lawrence, only two people have managed to file a claim successfully via exceptions. In the first instance, a cab driver from New York had been telling friends about his abduction his whole life and called the insurance agency to share the story. In the second instance, a train conductor from New York had sent an overexposed Polaroid picture with his claim, saying that the lighting in the UFO was bad.

In both instances, the agency stuck to its payout terms, which is $1 per year for 10 million years.

How much does alien abduction insurance cost?

If you’re thinking about getting alien abduction insurance as a novelty item or a gag gift for a friend or family member, the cost is a single lifetime premium of $24.95 for a digital certificate or $29.95 for a paper certificate.

“You could spend $30 for a framed alien abduction insurance policy or spend it on an Aliens Blu-ray box set for your friend instead. It’s hard to say which would get more use,” said Kyle Beckhusen, an insurance specialist and fiduciary planning expert for Wright Associates Investment Advisers. “I would put it up there with buying naming rights for one of the trillions of stars in the universe. Maybe a funny gift for someone who has it all.”

Could you be covered by existing insurance policies during an alien invasion?

Astrophysicists have expressed serious reservations about the likelihood of mankind ever coming in contact with extraterrestrials. But in that unlikely scenario, you may wonder if your existing insurance policies might cover you.

The answer is: possibly. If a UFO lands on your house or vehicle, for instance, the damage may be covered under your homeowners or auto insurance policy, assuming the pilot doesn’t have liability insurance.

If there’s an all-out alien invasion, however, any damage caused may fall under the war exclusion common among property and casualty insurance policies.

Focus on insurance coverage that’s necessary

OK, all joking aside, while alien abduction insurance can be a fun purchase for yourself or others, it’s important to make sure that your actual insurance needs are being met before you fork over money for the lifetime premium.

Take a look at the areas of your life that could be vulnerable to emergencies and disasters, and try to make sure you have enough coverage to protect yourself and your loved ones from financial ruin. Some of the most important insurance policies include:

• Auto insurance
• Disability insurance
• Health insurance
• Life insurance
• Homeowners, renters or condo insurance
• Personal liability umbrella insurance

Review your existing coverages and look for holes. Then, work with an insurance broker or do some research online for policies that can help you bridge any gaps you may have in your coverage.

Also, be sure to review existing and new policies for potential limitations that could impact your ability to get a settlement. “You always need to understand the terms and conditions before signing,” said Beckhusen. “Make sure you’re clear about what you need, and then make sure that you see it in writing.”