Career Ending Insurance
… against the financial impact of a career-ending injury
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.
Helping to safeguard your future with career-ending injury insurance.
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.
An integral part of a football professional’s wealth management strategy Footballers work hard to reach the top of their game. However, many do not fully appreciate the impact a serious or career-ending injury or illness could have on their short and long-term financial future. Personal accident (PA) insurance provides financial protection to a player and their family against their potential loss of earnings if their career is either interrupted or prematurely ended due to an accident or illness. Personal accident insurance forms a vital component of a player’s wealth management strategy. Full-Time Cover, arrange bespoke policies tailored to the personal requirements of the individual. Our experienced professionals work with the player and/or their representatives to recommend policy options that are suited to their unique circumstances, considering a range of criteria including:
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Whilst risks of injuries or illness are often unavoidable, the financial impact can be negated with proper planning and correct insurance. Depending on a footballer’s circumstances we recommend one of or a combination of, the below: Permanent total disablement (PTD) Inc Accidental Death An insurance policy that pays a lump sum benefit in the event a player’s career is ended prematurely through accidental bodily injury or illness. In the event of accidental death, the benefit would be paid to the insured’s beneficiary. The policy provides the player with 24hr worldwide cover including when they are on international duty. Temporary total disablement (TTD) Playing contracts vary depending on the country. Legislation in each country will dictate how long a club is obliged to pay a footballer’s salary after they sustain a serious injury. A TTD policy can supplement a professional’s salary until they are fit to resume their profession.
A footballer or sports professional’s career is short. Should a player sustain serious injury it can be shorter. Insurance is a vital tool of a player’s wealth management. Accidents can occur in a match, in training, or anywhere such as a car accident. A player’s financial situation can change significantly in event of an accident, and injury insurance is the first line of defence in wealth protection. In the event of a successful claim, a player receives a lump sum, a 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.
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.
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.
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.
Primarily, we look at your contract details. How much you are paid per year and how long are 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 is on hand to help you with any questions you have.
Yes, we cover all sports insurance. Professional football players, tennis players, rugby players, cricket players, boxing and jockeys. However, each sport may have its 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.
Price can vary with key determining factors being your age and the level of risk in the sport you play in.
Yes, ask our team about our credit rate finance plan.