High School and College Athletes who show potential in their sport have a lot riding on their health. Professional contracts and signing bonuses add can total hundreds of thousands and even millions of dollars over their lifetime. These dreams, and the financial windfall that accompanies these dreams, can crumble in a split second with a bad injury (on or off the field) or illness.
Student Athlete Disability Insurance insures against a future financial loss if the athlete were to become unable to compete on a professional level.
How does a student athlete qualify for Student Athlete Disability Insurance? First, the student athlete must be within 3 years of draft eligibility. A third party scout will access the student athlete’s likelihood of playing their sport professionally. From there the underwriters of this unique insurance plan will determine the future worth of the student athlete. The maximum benefit the student athlete can qualify for is based on his/her potential to be drafted professionally and how much their position is drafted for on average. If insured, the student athlete must then maintain incredibly demanding physical condition.
In the unfortunate event the student athlete then experiences a career ending injury the insurance policy would pay out a one-time lump sum tax free payment.
Because the risk to a student athlete is so high traditional insurance companies typically do not offer this type of insurance. There are several speciality insurance companies Almega Life Solutions work with to secure this unique insurance for student athletes.
Student Athlete Disability Insurance is one of the unique insurance programs Almega Life Solutions is uniquely capable of providing.
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