Post by aztecmaverick on Aug 14, 2010 23:57:55 GMT -8
RE: DISABILITY INSURANCE
I used to sell DI a few years ago and in fact ran the numbers for several players...
A player making league minimum will usually get a 500k policy. A player making league minimum + starting could get a million dollar policy. For the million dollar policy it would run aroun 15-18k each year of coverage. Now the kicker... The only company who was willing to provide this insurance (Lloyds of London) required a career ending injury before they paid out. No one provides insurance money to players who are only hurt for several months or a year. if they did that they would pay out too many clients...
I used to sell DI a few years ago and in fact ran the numbers for several players...
A player making league minimum will usually get a 500k policy. A player making league minimum + starting could get a million dollar policy. For the million dollar policy it would run aroun 15-18k each year of coverage. Now the kicker... The only company who was willing to provide this insurance (Lloyds of London) required a career ending injury before they paid out. No one provides insurance money to players who are only hurt for several months or a year. if they did that they would pay out too many clients...