In a New Twist, Colin Kaepernick’s Disability Insurance Policy Benefits Will Go to the 49ers, Insurance Lawyer to the Pros, Frank N. Darras Explains
Many athletes go through a disability insurance expert to purchase an individual policy with the athlete receiving all the benefits and up-side. The policies are separate from both the player's contract as well as the team. In 2007, NFL Network reported on the
"This policy would pay out
"As you can tell, Kap won't be hurting salary-wise but the interesting thing about this policy is the benefits being paid to the
For star athletes, insurance policies can be a relative proposition, which means athletes have to go through specific insurance companies who are willing to offer career-ending coverage. On average, pro athletes may shell out six figures a year to make sure their livelihood is covered in the event they are injured. With high rates of injury in football, the insurance coverage has been worth the cost when athletes consider their potential income, says Darras.
"I urge any current and future pro-football players to talk with an experienced insurance agent to find out what type of disability insurance policy would be best for them. Since there doesn't seem to be a precedent for Kap's contract and disability insurance policy, we don't know how such a policy will work until more details are made public," says Darras.
Read the full story at http://www.prweb.com/releases/2014/06/prweb11960217.htm
|Copyright:||(c) 2014 PRWEB.COM Newswire|