Terms of Coverage
These plans are annually renewable, or for negotiated
longer periods of time. Premium rates may be
changed upon renewal. A renewal application or
a statement of good health may be required for
consideration of renewal. General Information Regarding Plan Design
These plans are used in a number of ways to insure
the professional athlete personally or to insure
the team of which the athlete is a member as
to the financial losses that result from a disabling
accidental bodily injury or sickness. Career
length varies by the sport in which the athlete
performs. Exceptionally high earnings are generated
in a short time span making the adequate insuring
of the earnings potential a primary financial
planning process. Loss of Future Earnings
A professional athlete can anticipate income levels
and probable playing time. A disability can affect
the level of income to be earned in the future
and a disability can shorten the career period.
As an example, an athlete has no income assurance
beyond the term period of the present contact.
This plan can insure an income should disability
shorten the expected career period. Contract Completion
The loss of an athlete by disability puts the team
in double jeopardy. Revenue may slip and the
team must continue to pay the non-performing
athlete. These plans can insure the contracted
compensation to the athlete, thus relieving the
team of that financial burden. Loss of Endorsements
Endorsement income and fees continue to flow as
long as the public remains fans of the athlete.
A political statement, a drug involvement, a
drunk arrest, a public relations goof, and the
advertisers/endorsers pull back from sponsorship.
This loss is also insurable. Cost of Agents/Managers
During periods of disability it is in the athletes
best interest to continue the use of agents and
managers to keep the athlete's value as an athlete
and as a product spokesperson keenly in the minds
of those who contact for their services. These
costs can be insured. College Draft Protection
Talented athletes may decide to stay in school
rather than take early entry into the draft.
There is a risk of sustaining a career ending
disability during the final college years. These
plans are available to insure the future value
of a professional career. High
Limit Death & Dismemberment Benefits
The loss of life or dismemberment of an athlete
can place an enormous financial burden on the
surviving spouse and/or children. Many teams
provide a small benefit in the event of a tragedy
and most families have little or no life insurance.
These plans provide athletes with high limits
designed to help eliminate the financial burden
a family can incur as the result of a tragedy. Securing a Quotation
In order to receive a quotation, click
on the link below to access the Request
for Quotation form in Adobe Acrobat format. This form must be completed in
full. A quotation will be forwarded with specific terms and conditions including "this
quotation is contingent upon receiving a fully completed and signed Medical
Examiner's Report Form."
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