From paparazzi to bodyguards to mansions and private jets, celebrities live an unconventional lifestyle. Add one more to the list: absurd insurance policies with mega-buck payout plans. Unlike typical insurance plans covering your house, car or valuables, the risk is high for insurance companies guaranteeing celebrity body parts for sky-high sums of money. (For related reading, also take a look at 10 Costly Celebrity Divorces.)
IN PICTURES: 10 Insurance Tips For Homeowners

But Lloyd's of London is an insurance giant famously known for taking on big-digit celebrity insurance policies over the years, including the legs of Fred Astaire and the fingers of Rolling Stones' Keith Richards. From legs to chest hair to tongues, here are five of the wackiest celebrity insurance policies.

1. Shirley MacLaine's Alien Abduction
Storied actress Shirley MacLaine is the owner of one of the most bizarre insurance policies in Hollywood, reports Parade Magazine. According to the publication, MacLaine, who is widely known for her beliefs in reincarnation and extraterrestrial life, owns a $25 million policy protecting her acting fortune against an alien abduction. In fact, in the U.S., more than 20,000 people have forked over insurance money to cover themselves in the event of an alien abduction.

2. Gene Simmons' Tongue
Gene Simmons, the bassist for the iconic late-'70s band, Kiss, added his own signature move - sticking out his extra-long tongue - to the band's widely recognizable stage presence of black-and-white face paint and rocker costumes. His tongue, which has been rumored to be surgically enhanced, was reportedly insured for $1 million when Kiss was at its peak.

3. Tom Jones' Chest Hair
In this day and age, a lot of appearance-conscious men are looking to wax or trim their wayward hair. But the pop singer Tom Jones must think a little fuzz is critical to his stardom as a sex symbol. In 2008, the New York Daily News and several other media outlets reported that Jones had his chest hair insured for $7 million. Other sources, however, have alleged that this information is false.

4. Dolly Parton's Bust
Country sensation Dolly Parton, whose musical talents are synonymous with her curvy figure, has insured her 42-inch bust for $600,000, reports ABC News. That's $300,000 per breast.

IN PICTURES: Top 5 Most Hair-Raising Contracts

5. Keith Richards' Middle Finger
Several media sources have reported that the Rolling Stones' guitarist, Keith Richards, has covered the middle finger on his left hand for $1.6 million.

6. David Lee Roth's Sperm
Taking the idea of insuring body parts a step further, David Lee Roth, the lead singer of Van Halen, decided to pay a premium on his sperm with over a $1 million insurance policy, according to U.K. newspaper The Independent. Some say this was a forward-thinking move, warding against any possible paternity suits.

Why Do It?
It's not the celebrity who is footing the bill. Instead, often times, the insurance policy is covered by entertainment companies or endorsers. For example, Proctor & Gamble has an insurance policy on Pittsburgh Steeler Troy Polamalu's curly, long tresses because the NFL strong safety is the face of the company's shampoo, Head & Shoulders. Likewise, as a poster child of pearly white smile, Aquafresh has insured the teeth of Ugly Betty's America Ferrara's teeth for $10 million. Insiders speculate that the trend of insuring body parts is used to create press for a celebrity or ignite attention for a brand - and to increase the overall dollar value on what is deemed a priceless star. (For additional reading, also see Outrageous Celebrity Appearance Fees.)

Related Articles
  1. Credit & Loans

    A FICO-free Loan? See SoFi's Super Bowl Ad

    Non-bank lender SoFi will air its first TV ad during Super Bowl 50. Here's how it's challenging big banks by providing an alternative approach to loans.
  2. Investing News

    Super Savings for Your Super Bowl Party? Bet on It

    Prices for wings, avocados and TVs are all coming down, which will make your Super Bowl 50 festivities less costly.
  3. Investing News

    Are Super Bowl Ads Worth Their High Cost?

    Are Super Bowl ads worth the investment? A look at the cost and how they're received.
  4. Investing Basics

    This is What Donald Trump's Portfolio Looks Like

    Find out what Donald Trump's portfolio looks like and gain some interesting insights into the way the billionaire's investment mind works.
  5. Personal Finance

    4 Famous People Whose Finances Were Under Conservatorship

    Understand what conservatorship is and how it comes about during the legal process. Learn about four celebrities who were placed under conservatorship.
  6. Stock Analysis

    7 Trump Businesses You Didn't Know Existed

    Understand what Donald Trump is best known for and the types of income streams he's created. Learn about seven obscure businesses he owns.
  7. Estate Planning

    A Look At Robin Williams' Net Worth and What Happened to His Estate

    Understand what happened to Robin Williams' estate and what his estate included. Learn about the court battle over his remaining possessions.
  8. Wealth Management

    Using Insurance in a Business Succession Plan

    How to use life and disability insurance to help fund a business succession or buyout plan.
  9. Investing

    How FanDuel and DraftKings Work

    DraftKings and FanDuel lead the daily fantasy sports industry, supported primarily by advertising, entry fees, media companies and sports leagues.
  10. Real Estate

    Best 3 Mortgage Calculator Websites with PMI

    Learn more about all of the factors behind PMI, and discover the three best websites that provide a mortgage calculator that includes PMI.
RELATED FAQS
  1. Do FHA loans have private mortgage insurance (PMI)?

    he When you make a down payment from 3 to 20% of the value of your home and take out a Federal Housing Administration (FHA) ... Read Full Answer >>
  2. Does renters insurance cover storage units?

    An all-perils renters insurance policy provides coverage for the contents of storage units. Most policies limit the amount ... Read Full Answer >>
  3. Does renters insurance cover personal injuries?

    Renters insurance provides two main forms of coverage – liability and contents insurance – and they are offered together ... Read Full Answer >>
  4. Does renters insurance cover flooding?

    An all-perils renters insurance policy does not cover damage from a flood. Consumers sometimes confuse a pipe bursting with ... Read Full Answer >>
  5. Does renters insurance cover mold?

    An all-perils renters insurance policy typically provides a low set amount of coverage for damage caused by mold as long ... Read Full Answer >>
  6. Does renters insurance cover car theft?

    An all-perils renters insurance policy does not cover the theft of a vehicle. It does, however, provide coverage for personal ... Read Full Answer >>
Hot Definitions
  1. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  2. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  3. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  4. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
  5. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
  6. Discouraged Worker

    A person who is eligible for employment and is able to work, but is currently unemployed and has not attempted to find employment ...
Trading Center