What is Apocalypse Insurance?
The Apocalypse Insurance trend is sweeping the world and wealthy individuals are “buying” up policies. The 2020 pandemic led to an increased interest in Apocalypse Insurance. The trend is likely to continue with wealthy people, and even non-wealthy persons, “buying” policies. But what is Apocalypse Insurance and how can it benefit you?
How does Apocalypse Insurance work?
Apocalypse Insurance is the name that has been given to a type of insurance wealthy and super-rich individuals “purchase” or create in case of a global calamity. The COVID-19 pandemic is one type of global calamity that hit the world extremely hard. Economies have been thrown into disarray. Governments have struggled to cope with matters, leaving millions of people without confidence in their leaders. Apocalypse Insurance ensures wealthy and super-rich persons can cope with devastating events that impact society.
There are several reasons as to why individuals set up Apocalypse Insurance. Reasons include:
- Geopolitical conflicts and tensions
- Uncertainty over political relationships between countries
- Social conflicts and uprisings
- Man made and natural disasters
- Climate change and weather pattern alterations
- Political uncertainty and wars
Why are wealthy and super-rich individuals setting up Apocalypse Insurance?
Due to the reasons above, wealthy and super-rich individuals are taking steps to cope with socially destructive situations that could result in major world problems in the future. These situations could lead to individuals losing their wealth.
Apocalypse Insurance may not be what you expect. It isn’t a policy one can purchase directly from a company. Rather, when referring to it as a policy, Apocalypse Insurance is a step that can be taken to insure billionaires continue living their best life.
For some wealthy and super-rich persons, they are purchasing homes in remote areas of the world. These homes will be stocked with food and provisions allowing them to escape to these residences if needed. Other wealthy individuals are constructing self-sufficient bunkers filled with provisions. It is claimed that some billionaires have constructed bunkers with concrete walls capable of withstanding a nuclear bomb. By building these residences to move to, billionaires have created an escape plan in which their wealth will be available to them no matter where they go.
Financial analysts believe more billionaires will provide themselves with Apocalypse Insurance to escape the worst-case scenarios that may occur in the world in the coming years. Many individuals will put more of their wealth into preserving their financial status and that their family survives any global catastrophe. The rise in demand for Offshore Gold Storage is just one example. The 2020 pandemic is likely to have increased the desire of many to establish getaway plans. It is unknown, but there could be a large number of billionaires currently living in remote areas around the globe as they seek to escape the Geo-political situations.
Is Apocalypse Insurance real?
You can be assured that Apocalypse Insurance is very real. Some of the world’s richest individuals have made use of large properties during the pandemic to get away from large groups of people.
Amazon founder and owner Jeff Bezos has made billions of dollars from sales through Amazon during the last 12 months. Bezos owns more than 300,000 acres of land in West Texas, a relatively low-populated area. The property is Bezos’s Apocalypse Insurance, which could afford him the chance to escape from chaos.
Reid Hoffman, the founder of LinkedIn, believes over half of Silicon Valley’s billionaires have some type of safe room, non-American property to escape to, or bunker equipped with provisions. This Apocalypse Insurance offers them the chance to preserve their lives, family, and wealth.
Should you buy Apocalypse Insurance?
You are probably already wondering whether or not you need Apocalypse Insurance. Entrepreneurs are all different and your idea of insurance could be contrasting to what multi-billionaires believe is adequate to preserve their ways of life in case of emergency.
Apocalypse Insurance should be practical and fit into your life. It should also fit into your wealth. Many billionaires have earmarked New Zealand as a place to escape to in case of an apocalypse. Why? It is well away from both Europe and North America, and possesses a strong infrastructure. It is also a small island and its ability to deal with health crises has shown that New Zealand Government can be robust when needed.
Locations chosen by individuals as destinations include countries that are affordable to live in, easy to travel to, and are good value for money. Countries with emerging economies are popular places to relocate to. In addition, you want to go to a country in which a second passport can be gained through local investment.
Apocalypse Insurance strategies
There are two plans you can choose from when “buying” Apocalypse Insurance. One plan is to move overseas, set up a business, and save money by living in a country with low taxes. The lower cost of living provided by this foreign country will also help you save money and grow your bank account.
Alternatively, you can stay within your home country and pay for a property to be built that will protect you, your family, and wealth. Constructing bunkers or purchasing large swathes of land to escape to – like Bezos in West Texas – has been a strategy used by billionaires for decades.
The first thing to do to begin preparing for crisis or an apocalypse is to transfer money into overseas bank accounts. By transferring money to another, second country, you prevent one nation from controlling your financial future. You should also take steps to acquire a second passport, which will allow you to live overseas and potentially move around the world freely. Investing in local economies in countries such as Turkey, Cyprus, and St. Kitts and Nevis allows you to gain a passport.
As we have seen with the pandemic, the term “apocalypse” can mean different things. It can be a virus, a revolution, general uprising, a war, or an election – such as the one in the United States in 2020 that caused plenty of division amongst citizens. Apocalypse Insurance can benefit you now and in the future. Creating an escape plan that is ready to be implemented at a moment’s notice could be the difference between preserving your wealth and losing everything.
About the Contributor
Expert Contributor : Zanthe Alexander Bentley is a finance veteran with over 25 years’ wealth management experience advising both family offices and institutions on their corporate finance requirements including capital raises (debt & equity), restructurings and M&A activities. He has significant experience in investment management and investment banking and spent nine years at UBS focused on convertible bond arbitrage and equity derivatives.
Prior to getting involved in Asset Management he expanded a small Spanish brokerage from a handful of staff in Barcelona to a diversified brokerage company with over 150 personnel spread across 9 countries, transacting deals from High Grade to High Yield Fixed Income and Loans; Structured Products through to exchanged traded equities.
After taking time to focus on family office activities in Asia, Zanthe-Alexander now leads an ambitious zero-leveraged fund providing exceptional growth and income to Sophisticated Investors.