Is Santa Claus a Life Insurance Risk?
How much would Santa Claus pay for life insurance? According to Northwestern Mutual, determining how much to charge Santa for coverage would require more savvy than figuring the charge for other toy manufacturers and distributors.
In evaluating the risks of insuring Santa, Northwestern Mutual underwriters would scrutinize the more hazardous aspects of his work. If Santa applied for a Northwestern Mutual policy, the company would make a list (and check it twice, of course) of the following considerations:
Santa as a private pilot. Most experienced pilots are acceptable risks, and Santa qualifies as such. However, Northwestern Mutual would examine carefully the application of any pilot who lands on rooftops or other non-traditional venues to land aircraft. Sadly, even Santa might pay additional premiums for these rooftop drops, if he could be insured for them at all. Lest anyone pout or cry, however, Santa has an excellent safety record. Certainly, this would work in his favor. Santa as a "skydiver." Santa's sliding down chimneys could be likened to skydiving. Northwestern Mutual is more concerned with the beginning skydiver, requiring five free-fall jumps before skydivers can qualify for life insurance. The hazards of Santa's skydiving would be carefully weighed; he would most likely be assessed just a modest extra charge for this activity. Santa's weight. Recent shopping mall appearances confirm that Santa remains chubby and plump, a right jolly old elf. While endearing to young children, it does not enhance the assessment of Santa as an insurance risk. All insurance applications are evaluated according to height, build, blood pressure and family history. While little is known of Santa's genealogy, he would most likely be assessed a further modest premium for his ability to shake like a bowl full of jelly. Santa's pipe smoking. Santa cannot be treated differently than anyone else. Despite his big black pipe being among his signature monikers, all smokers pay more for life insurance than non-smokers. Foreign travel. Insurance is available to those traveling for business or pleasure to habitable and settled regions that are not subject to civil unrest or violence. Santa is in the unique position of being a universal citizen, so in his case no travel is foreign.
In the final analysis, however, company executives believe it would be impossible to determine how much Santa Claus would be charged for the life insurance. Life insurance rates are based on the age of the insured
And, Santa Claus is, after all, ageless. About Northwestern Mutual
Northwestern Mutual, the nation's leading provider of individual life insurance, has always received the highest possible ratings for financial strength from Standard & Poor's, Moody's, Fitch (formerly Duff & Phelps) and A. M. Best. Besides life insurance, the Company and its subsidiaries provide annuities, mutual funds, long-term care insurance and disability income insurance. In its category, it was named the most admired company in the world in Fortune's latest corporate reputation survey. Among its majority-owned subsidiaries are the Frank Russell Company, the investment management and advisory firm, Robert W. Baird & Co. Incorporated, the securities brokerage firm, and later this year, the Northwestern Mutual Trust Company. The Trust Company will offer a full range of personal trust products and services, as well as investment management services. Further information on Northwestern Mutual can be found at: http://www.northwesternmutual.com/
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SOURCE: Northwestern Mutual
Contact: Michael Shmarak for Northwestern Mutual, +1-312-228-6898,
12/21/2001 4:39:00 PM