Posted July 27th, 2009 by Brian
Filed under: Football

Texas quarterback [tag]Colt McCoy[/tag] has done what many other college athletes with lucrative pro careers ahead of them and taken out a large insurance policy in case of career ending injury. From ESPN:

Brad McCoy, Colt’s father, said Sunday that Colt has a policy that would pay between $3 million and $5 million in the event of a career-ending injury. “The premium is astronomical,” said Brad McCoy. “But the payback in the event of a catastrophe puts the monetary value there. We felt it was the prudent thing to do.”

This type of policy typically covers an athlete if he suffers an injury, on or off the field, that prevents him from playing professional sports. They do not cover injuries that merely cause a player to go lower than originally predicted. If you’re interested in learning more about these policies check out this excellent New York Times article from 2007.


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