During the first hour, Mike St. Lawrence of the UFO Abduction Insurance Company presented a tongue-in-cheek description of his company's unique insurance coverage. According to St. Lawrence, the policy provides for one's beneficiary the sum of $10,000,000 only if the abductee can show proof that he was taken aboard a UFO and gets the signature of "an authorized onboard alien."
St. Lawrence said his 'company' has been in business for 18 years and is approaching 30,000 policy holders. Larry Spatts, one of two policy holders whose claims have been approved, also appeared during the show. So as not to burden a person with all the money up front, St. Lawrence explained that Spatt's beneficiary will receive one dollar each year for the next 10 million years.
Additional terms of the policy include 'Sarcasm Coverage,' which is limited to one's immediate family (and then only while at home), and 'Double Indemnity Coverage' in the event an alien insists on conjugal visits or refers to the abductee as a food source. Policies can be purchased at ufo2001.com for a lifetime premium of $19.95 + $3.00 shipping.