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QB Winston’s draft insurance

By Jay MacDonald · Bankrate.com
Tuesday, July 22, 2014
Posted: 6 am ET

No right-minded quarterback would ever call a play without a backup plan. If your wide receiver gets jammed, you've got your tight end running a slant pattern as your second option. In a pinch, you can always dish to your fullback, keep the ball and look for daylight -- or my pick: scamper for the concussion-free sidelines.

That's why Florida State's celebrated Heisman Trophy-winning quarterback Jameis Winston isn't taking any chances with his future.

insurance-blog-florida-state-seminoles-quarterback-jameis-winston-on-the-ground

© MIKE BLAKE/Reuters/Corbis

According to reports from Yahoo! Sports and ESPN, college football's man-of-the-moment has taken out a disability and "loss of value" specialty insurance policy that would pay up to $10 million should his stock decline before next year's National Football League draft.

Insuring against a draft miss

An unnamed source says the policy payout is split evenly between:

  • A permanent disability insurance feature, which he would collect if he were injured and could never play football again.
  • Loss of value coverage, should his prospects diminish in the 2015 draft.

Winston, who is projected to be a top 10 draft pick, would collect a percentage of his benefit should he not be selected in the first round due to injury or illness.

It's not unusual for college gridiron standouts to lay a small wager on the pass line, just in case their number doesn't come in. The National Collegiate Athletic Association even sponsors a disability insurance program for certain budding sports prospects that includes total disability coverage. The NCAA program caps the amount of coverage at $5 million but prohibits participating athletes from buying supplemental loss-of-value coverage.

A pricey policy

Winston has good reason to cover his bases, considering his run-ins with authorities. He was investigated last year for an alleged sexual battery but was not charged, and more recently he was accused of shoplifting crab legs from a Tallahassee supermarket. Nobody said it would be easy growing up under the glare of the national media klieg lights.

Lest you were toying with buying a little coverage for your own prospects, it's estimated that Winston's policy will cost the 6-foot-4, 235-pound phenom $60,000 this year to insure a high draft pick. Top prospects typically obtain financing to pay for draft insurance.

Then again, if, as a redshirt freshman, you were named the Atlantic Coast Conference Player and Rookie of the Year, a consensus All-American, the offensive Most Valuable Player of the BCS title game and the youngest-ever Heisman winner, you'd have plenty of lenders just in the stands willing to help out.

Here's how entertainment figures insure themselves with "no-show insurance."

Follow me on Twitter: @omnisaurus

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8 Comments
dwntnbrown
July 24, 2014 at 9:58 pm

what color is he

lynn
July 24, 2014 at 5:26 pm

I guess who ever paid for the crab legs is paying the premium

Jeff
July 24, 2014 at 4:38 pm

That's exactly what I was wondering...who's paying this premium?

Tom
July 24, 2014 at 12:31 pm

How in the hell can a kid that grew up in the projects in Bessermer Ala, afford $60,000 a year for a Ins. policy.

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