You never know what’s around the corner and in the sporting industry, there are countless tragic examples of careers abruptly ending due to an accident or injury occurring without warning. Overnight your career can be suddenly impacted, and you may not be financially prepared for the repercussions.
Working as a professional sportsperson is a high-risk profession and with the amount of dedication and sacrifice needed to get to the top, there is so much at stake that can be lost in an instant. This means that having the right cover is essential. Career Ending Insurance for footballers , rugby players and other sports can be an essential part of wealth management planning.
It pays to use a reputed broker when taking out career ending insurance. If the necessary steps aren’t followed after taking out a policy, it may be rendered void.
A footballer or sports professionals career is short. Should a player sustain serious injury it can be shorter. Insurance is vital tool of a players wealth management. Accidents can occur in a match, in training or anywhere such as a car accident. A players financial situation can change significantly in event of an accident, and injury insurance is first line of defence in wealth protection. In the event of a successful claim, a player receives a lump sum, tax free benefit that can be anything around 5x the annual salary. Insurance gives peace of mind and financial security.
We provide professional sports injury cover for footballers, rugby players, snooker players, tennis players, cricketers and jockeys so please get in touch.
How does Career Ending Insurance Work?
Career ending Insurance is a policy designed to compensate you in the event of an injury, or depending on cover, an accident or critical illness that means you can no longer pursue your sporting career.
Some covers also include death by natural causes as well.
As a professional athlete it is your first line of defence in wealth management and financial planning.
What Information is needed for a quote?
Initially, to get a price we just need your name, age and sport and an idea of the lump sum that would be required to insure. A brief understanding of your medical history and injury record at this point would also be helpful.
How is the Lump Sum determined?
Primarily, we look at your contract details. How much you are paid per year and how long left in your contract. From this we can determine an approximate appropriate lump sum. Other off field earnings can also be an important factor in deciding. Our experienced team are on hand to help you through any questions you have.
Do you cover a range of sports?
Yes, we cover all sports insurance. Professional football players, tennis players, rugby players, cricket players, boxing and jockeys. However, each sport may have their own cover provided via their associations and levels vary between sports and jurisdiction – so always check with your association as to whether this cover is adequate.
How much does it cost?
Price can vary with key determining factors being your age, and the level of risk the sport you play in.
Can I pay in instalments?
Yes, ask our team about our credit rate finance plan.
For an overview of our footballer insurance products look here
For an overview of our rugby player insurance products look here
Much like in team sports, it flows better when everyone pulls together. Ask us about our group Personal Accident scheme and see if this can help you.