Wednesday, July 30, 2014

Why Golfers Buy Hole In One Insurance

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The goal of insurance is usually to protect us from life’s least happy circumstances: the loss of a family’s primary breadwinner, the theft of one’s car, the onset of an illness requiring expensive treatment. We buy insurance to protect us from misfortune and the times when lady luck lets us down.

But there is one type of insurance that people buy to protect them from the consequences of unusually good luck: In Japan, the U.K., and, to a lesser extent, around the world, golfers buy insurance to protect themselves from the potentially bankrupting consequences of sinking a hole in one.

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