Although it may seem like something only popular with celebrities, body parts insurance is actually utilized by people in a variety of other professions. The fact is, some people use parts of their anatomy to earn a living, and losing use of a body part can be devastating financially. The origins of body parts insurance comes from the days of silent films, where actors earned money based on their appearance. There are some cases where body part insurance was taken out as a form of publicity, although there are many other legitimate reasons for insuring anatomy. Let's look into the different forms of body part insurance. ¹
Many people use their hands to make a living, more specifically so, surgeons, doctors and musicians. Various sports players who use their hands in their career may also find value in insuring these appendages should anything go wrong and they are unable to earn a living. Losing use of a hand or both hands can mean the end of their career, and thus it is imperative that the person's hands are insured. Dependent upon how much money the person makes by utilizing their hands, they may have to pay an expensive premium to ensure that they receive an adequate payout if they lose use of their hands.
Legs are one of the most popularly insured body parts, especially with celebrities, sportsmen and supermodels. Many supermodels are booked based on the appearance of their legs, and thus insure their precious pins for millions, should anything happen to them. More popularly insured legs belong to football players, as they would be out of pocket in a big way should they lose use of one or both of their legs. In addition to this, football players work hard to have strong legs, and during games their legs can be under attack and get kicked, causing grievous damage.
There are various other body parts that can be insured. For example, famous singers will insure their vocal chords, and wine tasters can insure their taste buds! Teeth models for famous toothpaste and dental care brands can insure their teeth or their smile and dancers can insure their entire anatomy.
As you can tell, there is body part insurance for just about any part of the body! Not to be confused with disability insurance, which can be taken out by anyone to ensure they do not lose income should they become unable to work, body parts insurance is usually taken out over and above disability insurance, especially if the body part insured makes a lot of money for the insured.² If you require body part insurance for an appendage, you need to do some thorough research into the insurance market and see if it is available in your country. There are usually many clauses and different requirements before you can insure a body part.
¹ David Lokshin, (Aug, 2013), “What Does It Mean to Have a Body Part Insured”
² Monetos, “Body Part Insurance”
MiWay is a direct, short-term insurance provider offering a range of value-for-money insurance products. As well as motor, household and homeowners insurance, there are also add-on products such as warranty cover and liability cover .