Illini2010-11
- Sugar Grove
The second article you linked pretty much details why offering LOV insurance may not be enough to persuade top end players from opting out of lower tier bowls. The article states that for top football prospects, the annual premium in 2018 was around $100,000...not sure the cost for one individual game, but I am sure it is higher than the $1,000-8,000 you mentioned, which is low end costs from 2015 per the article. The premiums are super expensive and a lot of hassle to try and get a payout should an injury occur. Insurance in general is a major headache (think about all the hoops you have to jump through to get an auto or homeowners claim to go through; these policies are likely worse), and over an entire season, these policies make sense for players. However, for one game that does not mean winning a championship, the costs may seriously outweigh the benefits from both sides of the equation (those offering NIL deal and the player).College Player Files $3M Claim with Lloyd’s for Drop in NFL Draft
College Player Files $3M Claim with Lloyd's for Drop in NFL Draft
For the first time ever, a former college football star will cash in on an insurance policy that protected him from a free-fall in the NFL draft. CBSwww.insurancejournal.com
LOST LOV: A ONCE-BUSTLING MARKET FOR COLLEGE-ATHLETE INSURANCE FALLS ON HARD TIMES
Lost LOV: A Once-Bustling Market for College-Athlete Insurance Falls on Hard Times
The market for loss-of-value (LOV) insurance, sold to college athletes to guard against injury and illness, has undergone a big contraction.www.sportico.com
Players projected to be chosen in the first 3 rounds of the NFL Draft are eligible to purchase this insurance to protect against a career ending injury with a loan against their future income. The maximum pay-out is $10 million and can cost anywhere between $1000–8000 per $1 million insured depending on position and injury history. The loan is repayable either when the player signs a professional contract, a claim is made or the policy expires. This type of policy is also available privately and the only successful claim has been by Ed Chester in 1998.
College Football Players protecting their Future
With the conclusion of the Superbowl, the NFL’s yearlong juggernaut turns its attention to the NFL Scouting Combine taking place this week in Indianapolis , where the best college players are invited…medium.com