I've Heard It All

Thanks to all of the spam filters that AOL uses, I don't get much spam any more.  I still get the occasional letter from an attorney in Africa telling I'm some dead diplomat's only next-of-kin and how he wants to give me my dead kinfolk's millions.  But I got the most interesting piece spam the other day.  It was an ad for identity theft insurance. 

I mentioned this at work and a couple of people had heard of it.  My parents knew all about it, too.  But it was news to me.  It makes sense, though.  We can buy insurance for almost anything.  I even read an article about a company that offers wedding insurance - buy the insurance and if you are left standing at the alter, you'll get a nice chunk of change for your pain and suffering.(Note: the article didn't mention if wedding gifts are covered.  So you might have to give those back.)

The email I received said that 1 out of 12 people will be the victim of identity theft.  That's a very high statistic.  The ad went on to say how victims of identity theft typically spend almost 200 hours restoring their good name, talking to police and dealing with creditors and financial institutions.  They mentioned how the emotional strain could result in lost hours from work.  The insurance compensates the victim for lost wages up to a year after the identity theft occurred.  Something tells me this part of the insurance benefits would be easily exploited.  Sure, I realize it would take hours and hours to get everything taken care of, but I see people milking this feature. 

The ad said that the insurance company will privide expert assistance and financial relief up to $25,000 for identity restoration costs, legal defense expenses and lost wages - with no deductible, either.  It sounds like a pretty good deal to me - the annual premiums were only $72 for an individual or $140 a family.  I think this is something I just might look into.  I'll have to check and see if I can get TWIT covered under this policy, too.