History is home to all kinds of tales that defy expectations and seem stranger than fiction. For an unlucky few, their stories provide an account of lives burdened with more than their fair share of bad luck.
Where there is an unserved demand, someone soon supplies. That is how trade has evolved over the millennia. In the case of bad luck, apart from a flood of religious trinkets and snake oil solutions, one vital development was the advent of insurance.
Thousands of years ago, Babylonian ship merchants took out protection loans on shipments and paid a “loan forgiveness” fee to providers in case of theft or loss at sea. Today, insurance is an essential feature of everyday life – and forms a major part of the global economy.
Read on to discover three of the unluckiest people in history and the valuable lessons your clients can learn about the benefits of having insurance.
1. Ann Hodges’ landlord might have benefited from homeowners’ insurance when a meteorite hit Ann’s home
Just after midday on 30 November 1954, a meteorite fell through the clouds above Sylacauga, Alabama and crashed into a rural home in the nearby small town of Oak Grove.
The meteorite left a three-foot-wide hole in the roof of the house, covered rooms in dust and debris, and smashed a radio that it ricocheted off before hitting the upper thigh and hand of a napping Mrs Hodges.
While Ann’s injuries were largely superficial with some bruising on her thigh, she gained short-term fame for being the first known person to be directly hit by a meteorite — and live.
It is hard to say whether Ann or her husband had any insurance in place at the time, or if their landlord, Bertie Guy, had any homeowner’s insurance in place, but if they had it might have stopped some of the ugliness that followed.
It is important your clients understand that one of the major benefits of having cover for their properties is that if the worst should happen, and their homes undergo extensive damage, provided they have the right evidence in place they should be able to recoup what could end up being a sizeable expense for repairs.
For tenants, having home contents insurance gives them the same peace of mind when it comes to replacing or repairing their valuables.
While this might seem obvious to you, your clients might see the advice as possibly conflicted by personal interests and could benefit from a reassuring second opinion from an independent adviser.
If Ann and Bertie had proper insurance in place, they might not have ended up in a legal battle for ownership of the aforementioned meteorite. It was a row that ended up costly for both parties and caused a great deal of emotional stress over a year-long legal dispute.
2. Frano Selak could have done with car and travel insurance as he suffered 7 major accidents
Frano Selak was a 20th century Croatian man who was often described as either the world’s luckiest or unluckiest man. Frano survived seven major travel related brushes with death over the course of his life.
In January 1962, while he rode a train across a rainy canyon bridge, the carriages flew off the track and crashed into the freezing river below. The accident caused 17 passengers to drown, but Frano was pulled to safety and emerged with just a broken arm and mild hypothermia.
A year later, while taking his first ever flight, a malfunctioning door led to Frano and a stewardess being ejected from the plane mid-air. However, Frano safely landed in a haystack that broke his fall, while the plane subsequently crashed killing 19 people onboard.
In the proceeding years, he survived two serious bus crashes, two car fires, and being hit by a bus while on foot.
Frano’s luck on the road shows your clients the necessity of car insurance and how vital taking out the correct travel insurance for their journeys might end up being should the worst occur. Your clients will likely see the benefits tenfold if they find themselves suddenly bereft of their possessions, dealing with rearranged travel arrangements, or in need of foreign healthcare.
At Grey Parrot, we understand the value of having vital insurance when the worst occurs, and typically advise our clients to keep policies in place even while they’re considering necessary budget cuts as savings can be made elsewhere.
Two days after his 73rd birthday, Frano won the equivalent of almost £700,000 in the lottery. He would use part of his winnings to buy a boat. We’re frankly shocked he didn’t manage to sink it over the remaining 14 years of his life!
3. Violet Jessop might have found income protection insurance valuable when she served on the Titanic — and subsequently its sister ship
Violet Constance Jessop was often referred to as the “Queen of sinking ships”, as her stint as a stewardess for the White Star ocean liner company involved not one, not two, but three major disasters.
In 1911, Violet began working aboard the RMS Olympic, the first but also least disastrous of her three doomed voyages. The Olympic would collide with the British warship HMS Hawke just outside Southampton. There were no fatalities, but the damage was extensive.
In 1912, Violet transferred to the Olympics’ sister ship — the newly built RMS Titanic.
Just four short days after starting her new position, the Titanic would strike an iceberg in the North Atlantic and sink into freezing waters approximately three hours later. Violet was one of the lucky few to make it aboard a lifeboat.
During the first world war, Violet opted to serve as a stewardess for the British Red Cross onboard the HMHS Britannic, a sister ship of Olympic and Titanic, that had been converted into a wartime hospital ship. The vessel would collide with a deep sea mine and sink to the bottom of the Aegean Sea in under an hour — killing 32 people.
As she dived out the way to avoid being shredded by the sinking ship’s colossal propellors she would suffer a traumatic head injury — but lived to tell the tale.
Disaster can strike any business or individual. Your clients might find themselves suddenly without an income or coping with the many issues that arise from serious health problems.
It is vital that they understand that cover, such as income protection or critical illness, can provide essential insurance for when the worst happens and ensure your clients have the necessary funds in place to provide for their needs.
This could include scenarios such as how shareholder agreements (SHAs) are tackled in the event of a shareholder’s death. Many firms will have SHAs in place and in most cases the SHAs will stipulate what happens on death of a shareholder.
However, issues can arise when the deceased shareholder’s beneficiaries take ownership of their shares. This can have implications for voting rights, dividends, and all in all could be very bad for the future of the firm.
Once again, having the right insurance could make all the difference.
A financial plan is designed to help your clients navigate their way through life towards their eventual long-term goals. Insurance plays a key role in getting them there safely and securely.
Violet ultimately survived all three disasters and in 1920 returned to work for the White Star company on further voyages.
Get in touch
As you are aware, insurance is a safety net that protects your clients should the worst occur.
Violet, Frano, and Ann could all have benefited from various forms of cover, including the so far unmentioned life insurance, that might have negated the worst financial effects of their cases of misfortune.
If your clients are considering cutting essential cover during the current cost of living crisis and might benefit from independent financial advice, they should contact us by email at info@grey-parrot.co.uk or call us at 02039 871782.
Please note
Note that life insurance plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.
This article is no substitute for financial advice and should not be treated as such. To determine the best course of action for your individual circumstances, please contact us.
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