Saving You Money For Life

For those of us who have always felt that golf tournaments were more about the 19th hole than the action on the green comes news that many of these tournaments provide special cash awards if a participant hits a hole-in-one. In fact, the hole-in-one tourney is apparently a staple of the local charity golf tournament; in fact, so many tournaments sponsor so many hole-in-one awards that there is insurance available should the inconceivable occur.

In fact, there is an entire insurance company devoted to this peculiar underwriting niche, known as, yep, U.S. Hole in One. The company itself is an offshoot of Foresight Sports, a Philadelphia company that underwrites not only hole-in-one contests but other popular sports challenges as well. With a U.S. hole in one policy, you can proceed with your golf tourney and include this wild card feature safe in the knowledge that any unlikely payout is covered by an insurance policy.

Your hole in one policy cost is based on the size of the prize and the length of the hole – it’s got to be over 165 yards. A prize of $100,000 carries an insurance premium of $100; a $250,000 prize requires a premium of $125; and the ‘million dollar shootout’ will cost you $550. If that million bucks is delivered as a forty year annuity instead of an instant payout, the premium drops to $180.

At these prices, there must not be a lot of duffers dropping aces on those par threes. That may have something to do with the warm-up activities, although U.S. Hole in One makes no mention of preparation requirements. Despite its online price schedule, however, the web site requests that the tournament director provide certain information (such as number of players) and the insurance company will send back a quote.

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