Worried about being dragged from your bed in the middle of the night by marauding aliens bent on abducting you? Worry no more as an insurance company offers protection but there's a BIG catch.

Operating out of Altamont Florida since 1987, The UFO Abduction Insurance Company offers a premium policy - $10 million coverage that pays out in the event of an alien abduction, Insurance Business America reported.

Reportedly, the cost is a mere one-time payment for $9.99.

The company, which had previously offered "reincarnation" insurance, was inspired by seeing a news interview with "Communion" author and abductee Whitley Strieber.

More than 5,000 people have reputedly bought the policies but a payout requires proof that the insured was indeed abducted by aliens.

The insurance company owner, Mike St. Lawrence, claims to have paid out on the abduction insurance several times.

According to St. Lawrence, one of his policyholders in the 1990s claimed he had been seized and taken aboard a spacecraft where he was allegedly implanted with a strange device before being deposited back on Earth.

An MIT professor reportedly certified that the implant was “not made of any earthly substance.”

Satisfied with the claim, the abduction insurers began to fork over money on the policy.

But there's a catch to all this, St. Lawrence admitted – the company pays out just $1 a year – over a period of ten million years.

“We don’t want to put a tax burden on anybody,” he said.