|Rock stars need car and life
insurance just like everyone else in the world. However, the
question is should your company insure these rock stars? The answer
is more than likely going to be a resounding no, and there are
multiple reasons why you should not ensure these people. Consider,
Elvis Presley, one of the greatest rock stars of all time, who died
from a drug overdose with heart complications at the age of 42.
- Kurt Cobain died at the age of 27 after committing suicide
- Buddy Holly killed at the age of 22 from a plane crash
- Janis Joplin died from drug overdoes at the age of 27
- Tupcac the rapper was shot and killed at the age of 25
This is just a short list of those rockers that have died before
their time was truly up. But the one thing that they all have in
common, is that they die before they are into their thirties, with
the exception of Elvis Presley.
So why are rock stars such bad risks to take for insurance
companies? First off, consider the lifestyle of the rock star. There
motto is to live fast and live hard. Drug overdoses seem to be a
reccurring theme in the rock stars death. Consider this to a regular
everyday person working a nine to five job, the rock star has a
startlingly higher percentage of dying at a young age because they
do participate in those activities that are considered illegal and
highly dangerous for a reason. For life insurance purposes this
means that the company who is insuring the rock star is going to be
paying out the premiums that are due to the beneficiary way before
the time in which the premiums would normally be paid. This can
cause a financial mess for the company.
When considering whether to insure a rock star for motor insurance,
consider the number of rock stars who have ended their life due to a
car accident. Lisa Lopez otherwise known as 'Left Eye' from the
group TLC was killed in car crash after driving under the influence
of drugs and/or alcohol after trying to pass several other cars at
the age of 30. Cliff Burton, the bass player for Metallica was
killed when their tour bus hit a patch of ice and flipped at the age
of 24. In addition, consider the number of accidents that the rock
stars themselves have caused. Everyday, it is not uncommon to hear
of a rock star who caused an accident either from being on their
cell phone or being under the influence of a foreign substance. So
not only are the companies having to insure the rock star should
some unexplainable car accident occur, but they are also taking a
huge risk with ensuring the rock star because they get into so many
more accidents when compared to the average American citizen.
When also considering the risk of the rock star in regards to car
insurance, the company has to consider the rock star spends a great
amount of time on the road when compared to the average citizen.
They may spend 300 days on the road, only stopping for shows, which
statistically puts them at a higher chance of having an accident
when compared to other people that are driving on the road.
Exhaustion does play a huge role in many of these accidents since
the life of the rock star is nonstop fun and touring.
Overall, rock stars are not the kind of clients that companies want
to ensure. They will cost more money for the company since they will
have to pay out more for when these accidents do occur and may have
to pay out sooner than they would normally expect because of the
life that the rock star leads.