Preity Zinta Does A Bungee Jump
Indian cricket team skywalks in Australia.
If you are wondering what these headlines are doing in a personal finance blog let me explain.
Millions of dollars are riding on these celebrities. In fact for the cricket team it is probably in billions rather than millions. I am sure they are insured to the gills against accidents. Given the amounts involved I am sure the packages are specially designed for them.
Am very curios to find out if their policies cover accidents that may be caused while engaged in such adventure sports. Did the thought of insurance coverage cross their minds at all while they were engaging in these high risk sports?
Any information is most welcome
In any case even if the celebrities are covered because they have access to high quality insurance brokers what about the common folks. A close friend of mine was recently describing his bungee jump in South Africa. He had no problems but he clearly was not aware that he had no insurance coverage if he had suffered from any injuries. I have myself done para sailing on a trip overseas (even after going through the policy wordings I am not sure I would have been covered in the event of an accident).
We have already read reports of the unfortunate death in Bangalore from a bungee jumping accident. Off Course, Life insurance cover is available for death from this accident but the medical expenses would not have been covered if he had survived.
Shouldn’t these facts be known more widely and shouldn’t the people running these sports be required to provide warnings to their clients apart from the release forms that they normally get signed.