An Advisors' Guide to Excess & Surplus Disability Insurance

Protecting Your NFL Draft Eligible and Professional Athletes

Posted Wed, Jun, 15th, 2022
By Exceptional Risk Advisors

In football, the left tackle's job is to protect the quarterback from what he can't see coming.  And an insurance advisor's job is to protect professional & collegiate athletes from what they can't see coming - the early end of their careers due to a serious injury or illness. 

In our world, July and August are the months that we deem the "NFL Buying Season".  This is the time when many NFL athletes purchase disability coverage to insure either (a) their current non-guaranteed contracts, (b) their future projected income if they are heading into free agency, OR (c) their future projected income if they're top college athletes who will be draft eligible.

A college football player who is draft eligible is suitable for a draft protection policy. This safety net will protect the college athlete during their college career on and off the field leading up to Draft Day. This is key because college athletes must stay in school for at least three years before becoming draft eligible. Typical coverage includes off-season workouts, preseason, regular season, combines and pro-days.

Download NFL Draft Pick Case Study

Once a player enters a 4-year rookie contract, the clock is ticking for the player to earn and build wealth.  The strenuous physical demands of the game can result in a career-ending injury, which could further limit a rookie player’s earning potential.  Rookie players require unique insurance policies that protect future contracts and preserve wealth.  Such policies can cover permanent total disability due to a serious injury or illness.

For players heading into free agency and a big payday contract, a specialized approach to protection is critical.  A typical contract will guarantee a percentage of the total, so a player could potentially leave a good chunk of money on the table if they go down with a career-ending injury or illness.  With a high limit disability insurance policy, coverage protects a player’s non-guaranteed earnings, so they can focus on the game.

Case Study: NFL Defensive Lineman

With a players name, we are able to provide a simple review of your client.  The review could include the total exposure remaining in current contract, maximum benefit available, insurability of future earnings for those going into a free agency year, and more.

If you are looking to break into this highly competitive space or need a refresher on what is available for athletes through the Excess Lines Market & Lloyd's of London, we will be hosting a webinar on the topic later this month.  Register for the webinar below:

How to Protect Your Professional & Collegiate Athlete Clients