12-19-2016, 09:02 PM
(12-19-2016, 08:29 PM)DC 86 link Wrote:According to ESPN these policies typically cost $10,000 for every $1,000,000 of coverage. I have not seen total disability policies or loss of value policies exceeding $5,000,000 each, yet that is the figure that is frequently reported, which makes me think that insurance companies are unwilling to go beyond this amount.
Fournette needs to know it has become common practice for the game's best players to purchase disability insurance. The policies bought by his parents cover him for $10 million in total disability in the event of a career-ending injury and $10 million for circumstances that would lead to him falling from his projected NFL draft spot.
These days, you cannot typically purchase one without the other even if you wanted to. And when premiums run approximately $8,000 per $1 million of coverage, there's a lot of money going around even if the covered player finishes his career with no more than a hangnail.
....
The proof is in the numbers. The NCAA began sponsoring career-ending insurance in 1990. In the 26-year existence of what is now called Exceptional Student-Athlete Disability Insurance, only a handful of athletes have ever collected.
"Total disability?" asked Juanita Sheely, the NCAA's director of travel and insurance. "More than two and less than a dozen [have been paid] that I know of."
...
What is commonly called Loss of Draft Value insurance (LOV) has sprung up in the industry as an insurance rider. It is not overseen by the NCAA. It is more an organic evolution of the insurance market to sell more policies.
Only two players have collected on one of those policies. Former Oregon cornerback Ifo Ekpre-Olomu was the latest back in October.
http://www.cbssports.com/college-footbal...rotection/
Eric
"the older we get the better we were"

