We have all heard the rumors over the years that J.Lo and her most famous asset were insured for millions of dollars. In the clip above she denies that such a thing even exists when she was on Carpool Karaoke with James Corden. Sorry Ms. Lopez but I think you throwing shade.
By all reports J.Lo’s booty is insured for twenty-seven million dollars. I suppose that is not alot when you consider she changed the way the fashion world looked at women with curves. I mean without J.Lo there is no Kim Kardashian, and we all know that KK booty plays to win.
I have been meaning to research this topic for a while. I know athletes and surgeons insure their body parts because if by some fault of another get injured and loose their big paychecks, they are covered. Surgeons mostly protect their hands and athletes depending on the sport their hands, legs, and maybe even their entire bodies. The price varies depending on their speciality and net worth but surgeons hands can be insured for around eight million while a top athlete can get a million dollar policy for their most popular branding trait like hair. The teams or leagues who pay for this insurance deem it a regular part of an insurance package that an employer would offer because so much is riding on it.
Bariatric surgeon, Dr. Joseph Colella wisely puts it this way:
“It doesn’t insure you for your salary; it insures you for your ability to do your job.”
The technical term for this practice is Surplus Lines and not every insurance company offers such policies. Lloyd's of London is the most popular insurance company of this kind and deals with many celebrity cases. Often times it is not even the celebrity themselves paying for the policy but rather the brand or network they are under contract with. A good example would be America Ferrera’s teeth which are insured by Aquafresh for ten million dollars for her promotion of their whitening strips.
I find it interesting that Dolly Parton’s breasts are valued and insured at three hundred thousand a piece, not counting what, if anything she paid for them in the first place. Conversely Heidi Klum’s legs are not worth equal value. A small scar on her left leg causes it to be appraised at one million dollars while her right leg goes for one point two million dollars. Did you ever?
There is a lot of talk that these policies are taken out for publicity’s sake while the actual value celebrities assets are insured for a way less than they claim to be. I don't know about that. If you are pulling in a mega salary based on something unique to you appearance or better yet your talent, then why not guarantee your worth? It seems only logical.
However us regular folks can take out these kinds of policies too. There are policies that can be written specifically for your needs like a chef that worries if they loose their sense of smell or taste their ability to effectively excel or perform in their field will be hindered. That was something I wouldn't have thought of. These policies are offered in the hopes to keep your business open and running if something should happen that inhibits your ability to contribute to what made your business great in the first place.
A more common insurance practice for the common folk is the “death and dismemberment” clause that allows for a flow of income to remain despite a bad accident or other tragedy. I was watching a rerun of The King of Queens before and Doug and Carrie were adding that exact clause to their policy. As cheery of a topic this is, it is good to be prepared for the worst even though you pray it will never happen.
All of this talk about insurance makes me wonder what of mine I should seek out to insure? The obvious choice would be my hands for they are the actual mechanisms I use to write/type/blog. But I also feel like my brain is what I really need to protect. Considering I suffer from Chronic Migraines I feel someone, somewhere owes me some money for all of the days it prevents me from working and thinking.
As soon as the rain comes tomorrow and my head clears I will begin working on this task. I hope the premiums are reasonable and of course tax deductible.
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