Explainer: Bollywood’s insurance game worth crores: Why do stars insure their face, voice and body? Know the complete system

How Bollywood Insurance Works: Indian film industry is no longer just a medium of entertainment, but it has become a big business worth thousands of crores of rupees. Today the budget of a big film reaches Rs 500 crore to Rs 1000 crore. In such a situation, if the shooting of any actor or actress stops due to injury, illness or any accident, then the producer may have to suffer huge losses. This is the reason that now insurance in Bollywood is not limited to the artist only, but the entire film, shooting, set, equipment and digital data is insured. This system is considered to be the strongest financial security shield of the film industry.

Why do stars insure their bodies?

For common people, the biggest property is their house, car or life, but for film stars, their face, voice, body and their identity are the biggest source of income. If an actor gets a major injury on his face, a singer’s voice gets spoiled or a dancer gets injured in his leg, it can have a direct impact on his career. This is the reason why many celebrities insure specific parts of their body. This type of insurance provides security not only to the artist but also to the producers who have signed films worth crores of rupees with that artist. Big insurance companies of the world and some special general insurance companies of India offer such custom policies.

Which Bollywood stars have done body part insurance?

Many famous examples have come to light in the film industry. The biggest identity of Amitabh Bachchan is his powerful voice. For this reason his voice has been given special protection. Today, in the era of AI and deepfake technology, voice safety is considered more important than ever. After the film ‘Dostana’, John Abraham had insured his fit body, especially his glutes, for about Rs 10 crore. He had said in many interviews that his body is very important for his work. At the same time, vocal nightingale Lata Mangeshkar had also got her voice insured so that she could get financial security in case of any medical situation. Not only this, it is said that Priyanka Chopra has also got her face insured.

How is the insurance amount worth crores decided?

Insuring a celebrity’s body part is not done like normal insurance. For this, insurance companies do many types of investigations and checkups. First of all, the current and future earnings of the artist are estimated. If an actress charges Rs 40 to Rs 50 crore for a film, then the price of her face or body insurance can be fixed at Rs 100 crore or more depending on her upcoming films. Apart from this, it is also seen that how risky the work of the artist who is insuring himself is, the insurance premium is higher for the actors who do their own stunts. Apart from this, tests are also done from time to time to ensure that the artist is not being careless about his health. The annual premium of this type of policy is quite expensive. Generally, 1 to 5 percent premium has to be paid for this.

How does film production insurance work?

In Bollywood, not only the hero and heroine, but also the entire film is insured. This is called film production insurance. This system was started in India by producer-director Subhash Ghai during his film ‘Taal’. Since then, almost all the big studios insure their films. Under this insurance, if the hero or heroine falls ill or meets with an accident during the shooting and the shooting stops, then the insurance company compensates for the set rent, employees’ salaries and other expenses. Not only this, cameras, lighting and digital footage also come under its purview. Let us tell you that many types of losses are covered under insurance. After which the insurance companies themselves give it.

Why has the importance of insurance increased in the film industry?

In big budget films, thousands of people work hard and crores of rupees are invested. In such a situation, any one investment accident can stop the entire project. This is the reason why film producers now consider insurance necessary. During the shooting of ‘Devdas’ in Indian cinema, there was a lot of financial loss due to accidents on the sets. Due to strong production insurance at that time, the producer got financial relief and the film could be completed and released. After such experiences, big banners avoid starting films without insurance.

Is body part insurance also a part of PR?

Many experts from the entertainment world believe that sometimes the news of a star’s body part insurance is also a part of a PR stunt. When news comes before the release of a film that an actor has insured his hands, legs or face worth crores of rupees, it increases excitement among the audience and also benefits the brand value of the artist. However, despite this, the insurance process is completely according to legal and economic rules. For big artists and producers, this is not only publicity but also an effective way to reduce risk. This type of insurance is very useful to protect against any accident in a project with investment of crores of rupees.

Why has insurance system become necessary today?

In comparison to earlier, Bollywood now works completely on the corporate model. Big investments in films, international release, OTT rights, brand deals and digital distribution have increased the risk manifold. In such a situation, the artist’s face, voice, fitness and completion of the shooting on time are directly related to the earning of the film. For this reason, body part insurance and film production insurance have become necessary for the film industry today. This system is not only for the security of the stars, but also for the investment of crores of rupees, the hard work of thousands of employees and for the security of the film. This is the reason why today big stars and big production houses give priority to insurance before the start of any big film.

Also read: Explainer: How do you get a chance to act in Bollywood? Know what is its process