The insurance industry often tries to sell us cover of dubious usefulness, from critical illness insurance that won't pay out if you are only partially disabled to multiple birth cover not available to those having IVF treatment. But one company can claim the prize for the most defeatist outlook on life.

Saxon Insurance is promoting policies to cover college and university students against the 'growing' possibility of exam failure and de-registration through unforeseen circumstances, such as pregnancy, suicide, illness or a prison sentence. It will not pay out if the student insured simply changes his or her mind about going to college. But for £175, parents can buy cover for three years against the cost of tuition fees, accommodation and grants. For £425, student loans will be included too.

Brian Wright of Saxon might be forgiven for thinking that such a policy is useful - one of his children has dropped out of college. But surely the hefty premium would be better spent supporting students while they try to achieve their goal, rather than insuring against their failure. Wright says: 'Some people believe in insurance and will buy it because it's there.' Quite.

Those of you who regard Asteroid 2002 NT7 as a good excuse to stop your pension contributions should think again. The Asteroid is apparently on a collision course with the Earth and due to hit us on 1 February 2019.

But Donald Yeomans of Nasa's Jet Propulsion Laboratory in Pasadena, California, believes the threat is minimal: 'As we get additional data I think this threat will go away.' He's still look ing forward to his retirement and so should you.

Given current stock market performance, you may be better off not looking. But if you can't bear not knowing what's happening to your investments, check out the market reports on www.theguardian.com/business.