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Entertainers oftentimes have a lot to say. Many utilize their celebrity platforms to express personal feelings on politics and social issues facing the country. Sometimes immense egos shine through. But despite the usual self-aggrandizing and proselytizing by the Hollywood elite, as insurance professionals we must recognize and embrace that grouping of immense wealth and fame as they represent a large financial chunk of the life and health insurance industry.
Like physicians and attorneys and corporate CEO’s and the rest of us, an entertainer’s livelihood is what is of true importance. Those movie deals, ticket sales and back-end percentage points are what keep their families protected and their lavish lifestyles intact. A promise of great income is what ensures that the stars will continue making the films that Americans love and continue fueling the lives we love to follow.
Aside from the glitz and glam, actors are human, and their bodies are fallible just like yours and mine. They are susceptible to disease and injury, making career-ending or career-restricting disablement a very real prospect in their lives. And considering the size of their incomes, entertainers stand to lose a lot more than most of us. That is why large amounts of high-limit personal disability insurance are a must-have for the movers and shakers in the entertainment industry.
In addition to the usual inherent and obvious disability risks that most Americans encounter in life, actors face the additional threat of suddenly losing their looks and marketability which could be disastrous to one’s career in front of the camera. The physical appearance and persona of a celebrity is a major factor in what keeps them in the public eye.
Petersen International has deep roots in the entertainment industry and has been insuring actors and entertainers against disablement for more than 40 years. Our income protection program called StarCover is a Hollywood star’s greatest defense against the real risk of losing the ability to earn a living.
StarCover includes long-term, high-limit, “own occupation” disability insurance as well as optional residual disability coverage and inflation adjustment riders. But most importantly, StarCover includes a “disfigurement” rider which allows for the insured person to be classified as disabled if his/her likeness is deformed or irreparably affected by injury or disease even though he/she would not be considered disabled by typical insurance definitions.
StarCover’s novel and comprehensive approach to protecting the incomes and earnings of those who make a living in the spotlight has been applauded by the DI industry and continues to make a lasting impact on the lives of the rich and famous. To learn more about the StarCover program, contact our disability specialists at (800)345-8816.