new business concept for our readers

As you've probably noticed if you're a faithful reader of our publication, the Mint Rubbing Journal has started presenting business ideas to its readers.

We try to identify and present novel business concepts that have never before been tried out so you can derive the most benefit from the business education available on mintrubbing.org.

The first proposed idea was a revolutionary way to interact with house animals - the pet rental store concept (press ctrl+a after the page opens). Next came a revolutionary new concept for child education - the child discipline center system. After all these astounding ideas, today we introduce a business plan for a new product in the insurance industry. Let us begin.

Imagine the typical teenager or young adult: bursting with energy, enjoying life and generally having a good time; having many different encounters and relationships with persons of the opposite sex; discovering, interacting. making out, having sex and fooling around with many different lovers/friends/whatever with no care in the world.

Then, at some point in time the unthinkable happens: this freedom is lost, the energy and excitement go away, and those exciting youthful years are forever left behind: the young adult gets married.

Marriage is an unavoidable event affecting the lives of many people. As far as unavoidable events go, we might group marriage in the same category with, say, car accidents, property theft and medical problems. All of these affect people in some way; and for all of these unfortunate events human ingenuity has come up with a solution - insurance.

Floods, property theft, serious diseases or car accidents cannot be predicted in advance and can never be completely avoided. They produce some type of harm or loss that can be evaluated in financial terms - more specifically, the money needed to replace stolen property, pay medical bills, repair cars and so on. This is where insurance comes in - everyone pays a small fee and gets insured for certain risks - health insurance, theft insurance, accident insurance, natural disasters insurance and so on. And when the unthinkable happens, the insurance company pays for car repairs or rebuilding the home after a fire (the lost pet can be replaced by leasing a new one from the pet rental store).

So while risks posed by almost all of these unfortunate events can be covered through insurance, the risk of marriage is currently not covered in any way.

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Yet, marriage is very similar to the cases presented above: it leads to increased expenses, new problems, and limitation of freedom, choices and opportunities. And just like any other unfortunate event, it cannot be predicted: a person meets someone, falls in love (hopefully) and gets married. It could take as little as a couple of weeks. Just like that.

Marriage is a risk for hundreds of millions of people. And for this risk we have a solution: marriage insurance.

With this system a person purchases a marriage insurance policy and starts paying rates as early as possible in life; if possible, parents should purchase said insurance and start paying rates when the child is born (he will thank them later).

A small rate paid out monthly will not hurt the personal budget of anyone. But small rates which are paid for years and earn interest can add up to significant amounts. Later in life, when the child grows to be a young adult and the unthinkable happens (i.e. marriage) this amount is paid out by the insurance company as marriage compensation.

In a serious accident in which someone looses an arm, for example, there is no amount of money that can make up for the loss; nevertheless, a generous award or compensation is the next best thing to the lost arm (or possibly an even better thing with a good lawyer). Similarly, nothing can make up for lost opportunities, choices, freedoms, peace of mind and money after marriage. But significant compensation paid out by the insurance company can certainly sweeten the deal.

As for the practical issues of this business, marriage insurance plans are very similar to life insurance systems: individual accounts are opened and maintained by the insurance company; individuals make regular payments into their accounts, which the insurance company invests in financial instruments, real estate, business ventures, etc. Years later, when marriage occurs, the accrued fund can be paid out in one lump sum or yearly over a period of time.

As some individuals never get married, their marriage insurance rates can be distributed to individuals who do marry, thus raising the amount they receive as compensation or reducing rates (the system is similar to "regular" insurance products such as car theft insurance: many people pay for it, but only a fraction of cars get stolen).

So, there you go. Once again, a revolutionary business concept presented by your friends at mintrubbing.org. As usual, if you decide to pursue this idea and turn it into a working business, we'd love to hear from you.

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