Welcome
to the Allen Financial center for entertainment, sports and recreation
insurance. Here you can learn more about the tailored coverage we offer
for professional athletes.Professional
Occupation Coverage
These plans are for specific professional occupations. They will
terminate automatically if the insured changes from the occupation in
which he or she was engaged in at the time coverage was issued, unless
an agreement has been obtained from the Company.
Terms of Coverage
These plans are annually renewable, or for negotiated longer periods of
time. Premium rates may be changed upon renewal. A renewal application
or a statement of good health may be required for consideration of
renewal.
General Information
Regarding Plan Design
These plans are used in a number of ways to insure the professional
athlete personally or to insure the team of which the athlete is a
member as to the financial losses that result from a disabling
accidental bodily injury or sickness. Career length varies by the sport
in which the athlete performs. Exceptionally high earnings are generated
in a short time span making the adequate insuring of the earnings
potential a primary financial planning process.
Loss of
Future Earnings
A professional athlete can anticipate income levels and probable playing
time. A disability can affect the level of income to be earned in the
future and a disability can shorten the career period. As an example, an
athlete has no income assurance beyond the term period of the present
contact. This plan can insure an income should disability shorten the
expected career period.
Contract
Completion
The loss of an athlete by disability puts the team in double jeopardy.
Revenue may slip and the team must continue to pay the non-performing
athlete. These plans can insure the contracted compensation to the
athlete, thus relieving the team of that financial burden.
Loss of
Endorsements
Endorsement income and fees continue to flow as long as the public
remains fans of the athlete. A political statement, a drug involvement,
a drunk arrest, a public relations goof, and the advertisers/endorsers
pull back from sponsorship. This loss is also insurable.
Cost of
Agents/Managers
During periods of disability it is in the athletes best interest to
continue the use of agents and managers to keep the athlete's value as
an athlete and as a product spokesperson keenly in the minds of those
who contact for their services. These costs can be insured.
College
Draft Protection
Talented athletes may decide to stay in school rather than take early
entry into the draft. There is a risk of sustaining a career ending
disability during the final college years. These plans are available to
insure the future value of a professional career.
High Limit
Death & Dismemberment Benefits
The loss of life or dismemberment of an athlete can place an enormous
financial burden on the surviving spouse and/or children. Many teams
provide a small benefit in the event of a tragedy and most families have
little or no life insurance. These plans provide athletes with high
limits designed to help eliminate the financial burden a family can
incur as the result of a tragedy
Securing A Quotation
In order to receive a
quotation, click on the link below to access the Request for Quotation
form in Adobe Acrobat format. This form must be completed in full. A
quotation will be forwarded with specific terms and conditions including
"this quotation is contingent upon receiving a fully completed and
signed Medical Examiner's Report Form.
Allen Financial Insurance Group
A Key
Component of the Allen Financial Difference
|
