Texas A & M Star Quarterback, Johnny Manziel, has decided that he's worth $5 million in future earnings. Ever heard of an athlete taking out an insurance policy on themselves to cover for injuries prior to the NFL Draft? It's not uncommon. Yet, uncommon for a Redshirt Sophomore...although, how many redshirt sophomoros have you seen with a Heisman trophy? This insurance policy is being purchased from the "Exceptional Student-Athlete Disability Insurance Program" through the NCAA. Check out what Texas A&M coach Kevin Sumlin had to say in this excerpt from usatoday.com
"I talk to players all the time about different issues in their lives and guys that for whatever reason, feel like they need to protect their interests professionally, they have insurance policies," Texas A&M coach Kevin Sumlin said. "There's ways to do that through the NCAA and like I said, there's probably more people than you think that have done that over the course of the last few years."
Protecting the bodies of superstars is NOT uncommon in today's society. A group called the Lloyd's of London protect many celebrities and superstar athletes, providing insurance policies for their bodies because that is how they make their money. It is just like buying insurance on your business....if your most valuable piece of business property gets destroyed, you better have an insurance policy to cover your loss of income and repairs. It is also not uncommon for a profession team/organization to take out an insurance policy on a player. This is similar to what businesses do when they want to place a life policy on an employee who is vital to the companies growth. For example, Real Madrid bought an insurance policy valued at $144 million to cover their star forward Cristiano Ronaldo. Why would they do this? Because they make money off of their star players....they are who the fans pay to see.
Insurance policies do much more than the average person may realize. Earning potential, debt, expenses, loss of use, and many many more factors come into play when looking into the broad spectrum of insurance policies in the industry. Anything of value of which you possess, own, or have financial and/or emotional interest in can be insured by someone.
"I talk to players all the time about different issues in their lives and guys that for whatever reason, feel like they need to protect their interests professionally, they have insurance policies," Texas A&M coach Kevin Sumlin said. "There's ways to do that through the NCAA and like I said, there's probably more people than you think that have done that over the course of the last few years."
Protecting the bodies of superstars is NOT uncommon in today's society. A group called the Lloyd's of London protect many celebrities and superstar athletes, providing insurance policies for their bodies because that is how they make their money. It is just like buying insurance on your business....if your most valuable piece of business property gets destroyed, you better have an insurance policy to cover your loss of income and repairs. It is also not uncommon for a profession team/organization to take out an insurance policy on a player. This is similar to what businesses do when they want to place a life policy on an employee who is vital to the companies growth. For example, Real Madrid bought an insurance policy valued at $144 million to cover their star forward Cristiano Ronaldo. Why would they do this? Because they make money off of their star players....they are who the fans pay to see.
Insurance policies do much more than the average person may realize. Earning potential, debt, expenses, loss of use, and many many more factors come into play when looking into the broad spectrum of insurance policies in the industry. Anything of value of which you possess, own, or have financial and/or emotional interest in can be insured by someone.
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