2. The Product: Relationship Breakdown Insurance
• Here`s how it would work. You pay your premium to a
company you select to cover you. Everyone has to have this
insurance in order to date.
• Both parties keep all receipts for expenses occured during
said dating period.
• Expenses would include food, entertainment, travel and gas,
lodging ( a fee per night , his place or yours) apparel, health
and beauty etc.
• When you are done dating, our client goes through their
receipts,and decides if you feel it necessary to file for
financial compensation. If you do choose to file, you let us
know and rest we'll duke it out. The kicker is, if a claim is
filed with our company, our premium rate sky rocket.
3. What the customer gets
Insured party will receive a refund of 50% of charges
incurred directly to build the relationship
These include
1. Funds spent on the first 10 dates / all the dates
completed within first month whichever is smaller. This
is subject to presence of appropriate proof
2. All gifts purchased for the individual, the insured party
was in a relationship with. (refers to all the tangible and
intangible gifts purchased by the insured party as long
as valid proof is provided). In cases where presents are
returned insurer is not liable to pay anything to the
insured party
4. 100% of charges incurred to negate post relationship
trauma will be refunded by the insurer. These
include
1. Psychiatric help seeked
2. Expenses spent on tangible and intangible
products to counter post relationship stress upto
an amount of Rs 20000 will be insured (Include:
shopping, holiday, gym membership, spa, beauty
treatments, lavish dinners,etc) NOTE any amount
spent on intoxication is not subject to be covered
by insurer
5. THE AMOUNT SPENT ON THE ABOVE WILL BE
INSURED ONLY IF IT IS SPENT IN THE FIRST
MONTH POST BREAK UP ANY EXPENSES SPENT
AFTER ONE MONTH ON THE ABOVE IS NOT
SUBJECT TO BE COVERED
3. Expenses related to lodging will be covered to an extent
of 15000/month ( this component of insurance can only be
availed if the insured was living with the party he/she was in
a relationship with and lost her/his place to stay because of
the breakup…covered only for first 3 months
NOTE: INSURED PARTY WILL ONLY RECEIVE
HIS INSURANCE AMOUNT 3 MONTHS AFTER
THE RELATIONSHIP HAS ENDED
6. Our role…
We as insurers calculates the policy prices with intent
to fund claims to be paid and administrative costs,
and to make a profit. The cost of insurance is
determined using in depth research about current
pattern of relationships and the post break up
emotional and financial trauma that couples go
through.
Most of the revenue received by us consists of
premiums paid by policy holders, with some
additional money being made through the investment
of some of the cash raised from premiums.
7. Conception
The idea bubbled up, as so many do, from the bottom of a
financial pit. After we watched many lose a lot of their
wealth and earnings follow their relationship down the
drain, we figured there must be a market for those who
want to hedge their relationship bets.
Post an extensive survey we realized how many people
would actually be interested in paying premiums so as to be
pragmatic and atleast not lose financially after terminating a
relationship with their beau effectively.
8. Criticism
Not everybody thinks break up insurance is
prudent. "The best insurance against a painful,
financially devastating divorce is to find a way to
be happy in your marriage," says relationship
coach Mimi Daniel. "Break-up insurance implies
from the beginning that terminating the
relationship is already an option.”
9. Customer information
Changes to your cover
You must tell us if any of the following details change before
you need cover to start:
-You just got out of an old relationship
-You are casually dating multiple people
-You have entered into a new relationship
Failure to provide correct information or inform us of any
changes could adversely affect your policy, including invalidating
your policy or claims being rejected or not fully paid.
10. Types of covers:
• The stud plan: This covers for your foul experiences on
multiple dates with potential mates.
• The romeo plan: This covers for that relationship that
you thought would last a lifetime but didn't. The
emotional investment cannot be covered for but atleast
the financial investment can.
• The watch out plan: So your heart has been broken
more than once? Why let heartbreaks burn a hole in
your wallet. This covers for the fear that you have that
your next might just be another ex.
11. Had a break-up? Dont panic!!
Relationship breakdown coverage is triggered
after two lovers break up and remain separated
for more than three months. Pays 50 percent of
the cost of unreturned gifts including rings and
other jewelry; moving expenses; temporary
housing; damaged or lost goods; up to Rs50,000
for reputational damage.
12. General exclusions:
• Breach of trust : If our client was the one who
was the root cause of betrayal to his/her
partner.
• Relationship that ends on mutual and cordial
terms.
• Relationship ending due to change in sexual
orientation of one of the partners.
• Relationship that ends due to caste, creed or
religion issues or something of similar sort.
13. Benefits:
• If relationship actually does last and culminate in
an allaince, we cover 10% of the expenses of the
wedding.
• 20% off on premium of the first year if you take up
divorce insurance prior to your nuptuals.
• Counselling given to couples in case regarding what
they need to consider before breaking apart and
how to ease the process in terms of their finances.
• Special preferences to women who got out of a
dependent relationship in order to help them
become independent. This is accompanied by
housing options available to them.
14. Premiums
All data collected from the insured party is used to determine
premium paid. (data includes emotional attachment to
relationship, financial health of insured, frequency of past
breakups, number of times insured has cheated in the past,
tendency to spend money on the relationship)
Specific data in order to determine probability of the
relationship lasting is calculated. This includes current condition
of relationship, religious background of both parties, traditions
and cultures of both parties, age of both parties, duration of
relationship.
Actuaries are appointed in order to consider the following data
and determine premium packages
15. Premium packages are divided into 3 sub
categories depending on income of individual
insured
• LOW- Earns 0-300000
• MEDIUM- Earns 300001-1000000
• HIGH- Earns 1000001 and above
16. There are 3 types of packages (premiums/month)
The stud plan: Offered to people who have high
frequency of breakups (Usually low tendency to
spend on the relationship and high tendency to
cheat)
• LOW:- 2000 for 6m and 500 after that
• MEDIUM:- 3000 for 6m and 1000 after that
• HIGH:- 5000 for 6m and 2000 after that
17. The romeo plan: Offered to people with high emotional attachment to the
relationship and and high tendency to spend on the relationship
• LOW:- 4000 for 1y and 1000 after that
• MEDIUM:- 7000 for 1y and 2000 after that
• HIGH:- 12000 for 1y and 4000 after that
The watch out plan: Offered to people who are very cautious in a
relationship and have a very open mind with respect to their relationship
(Usually emotional attachment is low)
• LOW:- 2000 for 4m and 500 after that
• MEDIUM:- 3000 for 4m and 1000 after that
• HIGH:- 5000 for 4m and 2000 after that
NOTE THESE ARE GENERAL GUIDELINES FOR PREMIUMS BUT
MAY VARY DEPENDING ON THE SCOPE OF RELATIONSHIP
LASTING
18. YOUR RIGHT TO CANCEL A CREDIT
AGREEMENT
• If you have chosen to pay by instalments, you may
cancel your credit agreement within 14 days of
submitting an enquiry of your break up. If you would
like to cancel your credit agreement please call us on
0845 246 8833 or write to us at the address shown on
your documents. If you cancel your Agreement you will
need to arrange for payment of any outstanding policy
premium.
• You have the right to end the credit agreement at any
time. If you wish to do so you should let us know. If you
do this any outstanding balance of the policy premium
must be settled in order for your insurance cover to
continue under the policy.
19. Target market
•
•
•
•
Age: Above 18 years.
Target status: Unmarried, dating couples.
Social class: Upper class.
Income levels: High income levels.
