jcorr
Super Genius
- 129
Thought this was interesting
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That is interesting. But weren't astronauts federal employees, therefore covered under FEGLI? They certainly would have had the basic coverage of one year income with the option to purchase larger amounts. The envelope thing seems more like a PR move than a financial planning move.
Edit: apparently a couple of them were still in the military. They would have been covered under SGLI, which was $10,000 at the time (about $70k in today's dollars) so still close to a year's average military pay. (Or several months of a Captain's pay)
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- #3
jcorr
Super Genius
- 129
You have an excellent point. I wonder why they didn't have SGLI or FEGLI. Was there some sort of exclusion at the time? It doesn't seem likely.
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I see the Challanger Crew signed poster getting around $30k today. I wonder how many autographs they did.
Only one crew member bought the coverage that was offered for that trip. Why they signed off liability just doesn't make sense.
Challenger shuttle crew signed away insurance rights
Only one crew member bought the coverage that was offered for that trip. Why they signed off liability just doesn't make sense.
Challenger shuttle crew signed away insurance rights
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- #5
jcorr
Super Genius
- 129
Now I'm really curious what prompted them to sign a waiver and absolve the government of any liability. In the scheme of things a few million dollars was such a minuscule part of the total liability. Of course it's easy to look at all of this in hindsight.
I've not listened to the podcast yet, although I plan on it. My major question is when did the FEGLI go into effect? I honestly don't know.
Considering it was the early days of the space program, I can just imagine underwriters tearing their hair out.
Considering it was the early days of the space program, I can just imagine underwriters tearing their hair out.
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