Options vary from a 60-day elimination period to as long as required and a benefit period from 1 to 5 years. TTD is defined as being wholly and continually prevented from performing the major duties of their occupation, due to accidental injury or sickness.
#Pro player insurance group professional
These costs can be insured.ĭesigned to respond in the event that a professional athlete is temporarily unable to work. Cost of Agents/Managersĭuring 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. A political statement, a drug involvement, a drunk arrest, a public relations goof, and the advertisers/endorsers pull back from sponsorship. Loss of EndorsementsĮndorsement income and fees continue to flow as long as the public remains fans of the athlete. These plans can insure the contracted compensation to the athlete, thus relieving the team of that financial burden. Revenue may slip and the team must continue to pay the non-performing athlete. The loss of an athlete by disability puts the team in double jeopardy. This plan can insure an income should disability shorten the expected career period. As an example, an athlete has no income assurance beyond the term period of the present contact. A disability can affect the level of income to be earned in the future and a disability can shorten the career period. In the event of an injury, your client can be covered for his or her projected future earnings, the cost of an agent or a manager, the lost contract completion, loss of endorsements, and many other costs.Ī professional athlete can anticipate income levels and probable playing time. Allen Financial Insurance Group provides high limit coverage for professional athletes-as well as collegiate stars planning to play professionally-against career ending disabilities or temporary disabilities.Įach sport from football to tennis has its own set of guidelines that underwriters follow when you call our office for assistance we will happily guide you to help you explain what can be accomplished for your particular athlete client. Because the risk is so high, many Insurance companies usually do not underwrite disability insurance plans for athletes.
Athletes consistently risk injuring themselves and, even a minor disability can be career-ending for a college or professional athlete. Additionally, the physical qualifications he or she must maintain are incredibly demanding. Athletes’ careers expose them to countless possible injuries.
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