Shubhanshu Shukla's Space Insurance Could Be The Costliest In The World. Here's What It Covers
Astronaut Shubhanshu Shukla, who represents India in a multilateral crew aboard the ISS, has secured insurance coverage that may be worth upwards of Rs 200 crore
For the next 14 days, astronaut Shubhanshu Shukla will orbit above Earth aboard the International Space Station (ISS) as part of NASA's Axiom Mission 4. But behind this milestone lies one of the most high-stakes financial undertakings known to mankind – space insurance, the most expensive insurance in the world.
Shukla, who represents India in a multilateral crew aboard the ISS, has secured insurance coverage that may be worth upwards of Rs 200 crore. This is part of the approximately $60 million (about Rs 500 crore) package paid by the Centre to Axiom Space in 2025, which includes mission costs, astronaut training, transportation via SpaceX's launch vehicle, and accident insurance.
Spaceflight is considered one of the riskiest ventures humans can undertake. Insurance coverage for astronauts reflects that danger, with policies ranging between Rs 40 crore and Rs 160 crore per individual, and in cases involving long-duration missions or high-cost payloads, the coverage can go even higher.
Insurance for astronauts isn't just about covering the spaceflight itself. It typically begins weeks or months in advance, encompassing the high-risk training period and continues until the astronaut returns safely to Earth. The premium alone for such insurance can range from 10 to 20 percent of the total insured amount, a massive figure compared to standard life or travel insurance.
The price tag is justified by the stakes. A minor technical glitch in space can be fatal. Unlike on Earth, there is no scope for emergency rescue. Every phase, from launch to docking to their stay aboard the ISS, and their re-entry, carries serious risk.
Death or serious injury during launch, orbit, or return.
Losses due to mission cancellation, training interruption, or mission delay.
Damage to mission-critical equipment and spacecraft.
Training injuries, provided they occur during officially sanctioned programs.
Insurance may not cover accidents stemming from willful negligence, intoxication, concealed medical issues, or acts of war and terrorism.
Who Insures Astronauts?
Space missions are often insured by major national space agencies or through partnerships with global private insurers. In the United States, NASA provides life and accidental death insurance to its astronauts and their families. For international missions like the ISS, participating nations ensure that their astronauts are insured, either through their space agencies or government-backed policies.
Private missions, like Axiom's, rely on commercial insurance providers. Some of the key players in the global space insurance market include:
These companies specialise in high-risk sectors, including aviation, satellite deployment, and manned space travel.
History Of Space Insurance And Compensation
The concept of insuring space missions is not new; but it has evolved significantly since the early Apollo days. Back in the 1960s, NASA was unable to offer formal insurance, so Apollo astronauts would leave behind signed autographs, which their families could later sell if tragedy struck.
The need for structured insurance became painfully evident after a string of catastrophic accidents:
Apollo 1 (1967): A fire during a ground test killed three astronauts. NASA compensated families through a special fund.
Challenger Disaster (1986): The shuttle exploded 73 seconds after liftoff, killing all seven astronauts. Government and private compensation was awarded. Lloyd's of London reportedly settled claims worth $7 million per astronaut.
Columbia Disaster (2003): The shuttle disintegrated during re-entry, killing all seven crew members, including Kalpana Chawla. Compensation came through NASA's Federal Employees Group Life Insurance (FEGLI), special agency funds, and a dedicated Columbia Families Trust set up by the US Congress.
Soviet Missions (Soyuz 1 in 1967, Soyuz 11 in 1971): Fatal accidents were followed by state-provided compensation, though specifics remain classified.
What Happens In Case Of Accident?
In the unfortunate event of a spaceflight casualty, claims can be made by the astronaut's family or the mission-operating agency. Settlements often depend on the terms of the insurance and the nature of the accident. With public interest and national pride often involved, governments tend to step in with supplemental compensation as well.
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Shukla's Mission And India's Investment
India's decision to send Shubhanshu Shukla on the Axiom-4 mission marked a significant stride in its growing involvement in human spaceflight. The seat purchased from Axiom reportedly cost $60 million, a figure that includes not only the flight but the weeks-long astronaut training, space station stay, and comprehensive insurance coverage.
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