You wouldn’t think something like the lottery could be insured, but it can be! Lotteries have become such a common form of entertainment that there are insurance packages built around them. If you love to play the lottery, it could be worth it to learn more.
We all spend money for entertainment. But when it comes to lottery tickets, well… it can get away from you.
That’s why there’s something known as lottery insurance. Basically, you pay for lottery insurance, and then you play the lottery. As long as they’re qualified lotteries.
If you don’t win anything, you get your tickets refunded! So for a low fee, you can insure yourself against a total loss. And that’s pretty good: after all, you can’t generally get a refund for a movie ticket even if the movie was spectacularly bad.
Of course, that does mean you need to pay for the lottery insurance. And, if you’re buying so many tickets that it’s an appealing option… you might have a small problem.
Apart from insuring yourself, you might want to know the difference between insured lotteries and uninsured lotteries. Let’s say that a company finds out that it can’t pay out its lottery, after all. Maybe it miscalculated the tickets. Maybe it didn’t actually expect someone to win.
An insured lottery is still going to pay out, because it’s insured by an insurance company. An uninsured lottery, well… you might find yourself spending money in court to defend your lottery win, and that will defeat the purpose!
So if you’re going to play the lottery, err on the side of insured lotteries. As we all know, insurance makes everything better.
Finally, there’s a third type of lotto insurance. Have you ever feared that your employees might win the lotto and walk off the job? It’s less unlikely than you think: it’s happened before. For employers, lotto insurance covers the cost of the entirety of your staff abruptly walking off. That includes hiring new employees, training them, and potentially experiencing some associated downtime. Remember: your employees don’t have to dislike you to dislike work.
That’s right! Now you can play the lottery… well, not safely, but semi-safely. On the other hand, if you aren’t feeling so lucky, you might want to get some insurance to protect yourself against the random chaos of the universe, instead.