Protecting a Fragile Career with Sports Insurance

By: Locton Sports

Everyone dreams of being a sports person at some point – scoring the winning goal in a cup final, lifting an Olympic medal or riding their bike over a finish line. Some of us even get to do it – to be paid to compete, to train, to engage in those centuries old games that still stir the hearts of every nation. What a great career! Fame, sometimes, fortune, often, and all because one gets to do what one loves doing. Well, that’s the shiny side of it. The less shiny side, the side that an investment in sports insurance is there to protect against, is the side where injury, or the shortness of one’s career, becomes a real stumbling block to providing for oneself or one’s family.

While an astonishing career, a varied career and often a very satisfying career, a life as professional sports person can be very uncertain. Uncertainty, where it is related to the job one does, always reflects financially. It’s all very well to be paid a lot of money for doing something strenuous – but when that lot dries up to nothing at the end of a career than it becomes a major issue. More major, even, than losing a less well paid job would be: because the difference between tons of money and no money is a lot greater than the difference between a little money and no money. Sports insurance provides a hugely important buffer zone, in the event of a source of good income suddenly drying up – a holding over bond that will see one and one’s family right during the months when one is forced to look for alternative sources of income.

Sporting insurance provides this crossover cover for all careers and all sports. Only a very small fraction of sports men and women will go on to become pundits, TV personalities or sponsorship figures – the rest, unless they have used their money very wisely whilst they earned it, are at risk of taking huge income drops and sometimes getting into a lot of debt very quickly. Good sports insurance cover is a way of banking some of that higher income as premiums, which will then pay out as monthly salary covers when the sporting career ends and another one is required to take its place.

Sports, of course, often results in injury. If an injury is career threatening or career ending, the injured sports man or woman and any dependant thereof need a financial cushion. Sporting insurance provides specifically for this kind of eventuality – where the major earner in a household suddenly loses their income as a result of something that happens within the career. Obviously, sports are high risk for injuries and so specialty sports insurance is required to maintain a protection against that risk. Regular insurance brokers simply cannot come up with this kind of cover – which is why the sports man or sports woman must go to a sporting insurance provider to make sure they are properly protected.

Careers in sport can be some of the most exciting and lucrative in the world. They’re also some of the most fragile. Don’t let the one ruin the other – get proper sports insurance and get the best of both worlds.

Article Source: http://yourfinance.co.za

About The Author
Variety of tailor made sports insurance products to cater professional footballers, agents and local sport associations. Lockton Sports offers personalised services and great Football Insurance.