It's no secret that Gene Simmons is a man of many talents. While his main source of income is performing as the lead singer of Kiss, he has also dabbled in reality television, acting, and even writing books.
While insurance seems like a dull business choice for the hard-playing Simmons, it appears that he didn't just pitch life insurance. He was the co-founder of Cool Springs Life Equity Strategy, according to the
Wall Street Journal.
What is Cool Springs Life Equity Strategy?
Simmons was part of a group that owns Cool Springs Life Equity Strategy; an insurance business based out of Franklin, Tennessee. While it's likely that anyone can apply to purchase life insurance from the company, the acceptance of your application will depend on your overall net worth.
The Wall Street Journal reported that the insurance company's target market is individuals who have a net worth of at least $20 million. Cool Springs seeks business from affluent business professionals, celebrities, and sports figures.
Why did Simmons get into the insurance business?
Gene Simmons never publicly stated why he decided to start selling life insurance. However, it’s reasonable to assume that when Kiss peaked, he was motivated to pursue business ventures that would allow him to keep the lifestyle he was accustomed to.
It's possible that he chose life insurance because once the business was set up, it wouldn't require as much time as his reality television program. The fact that the target market was made up of people Simmons was connected to in both his professional and personal life probably made the business even more appealing.
Is Gene Simmons still involved with Cool Springs?
While it's been reported that Gene Simmons co-founded and pitched Cool Springs, most of the information available about the company and Simmons' involvement is at least 10 years old. When it first came out that Simmons had jumped into the insurance game, the story was covered by major outlets like the Wall Street Journal.
A decade later, it's hard to tell if Simmons remains interested in the insurance business. It’s not clear whether he has any say in the company, and his name can’t be found on the Cool Springs site.
Why is insurance important?
Life insurance provides your loved ones with financial support in the event of your death. It helps cover things like funeral costs and outstanding medical bills. Overall, it provides a financial cushion for your family members so they can grieve without worrying about expenses.
A good car insurance policy is just as important and keeps you protected if you’re unexpectedly involved in an accident.
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