McCoy takes out career ending injury insurance policy

[Overtime]

I have to admit, this is the first time I've heard about this. I didn't even know insurance was available in case of a career ending injury.

http://sports.espn.go.com/ncf/news/story?id=4356869

[NightTrainLayne]

What's his name from USC did it a few years ago when he went back for his Senior year.

[LordTrychon]

I actually had the opposite impression. I thought this was fairly common among top College prospects...

[Overtime]

guess I've just never heard of it.

but wouldn't this be comparable to buying a lotto ticket, and then going and buying an insurance policy based on the winnings of that lottery ticket???

either way you go you're still gonna get paid?

I didn't think such things were even available. Wish I had known this cause I'd have bought insurance to pay me before I had my injuries I had at work several years ago, that changed my life.

[LordTrychon]

guess I've just never heard of it.

but wouldn't this be comparable to buying a lotto ticket, and then going and buying an insurance policy based on the winnings of that lottery ticket???

either way you go you're still gonna get paid?

I didn't think such things were even available. Wish I had known this cause I'd have bought insurance to pay me before I had my injuries I had at work several years ago, that changed my life.

Well, if you were able to buy a winning lotto ticket, and knew for sure it would win...

Then you called your insurance agency to protect against you losing it between now and when you could claim it...

McCoy is pretty much guaranteed millions of dollars provided he does not have an injury. He already has a winning lotto ticket... just can't claim it for a bit.

Now, if he just flat out sucks for no reason this year and doesn't get paid... then he's SOL.

[Dortoh]

happens quite often I believe

[OrangeHoof]

When Willis McGahee ruined his knees in the National Championship Game several years ago, it was disclosed that he had an insurance policy. I don't know if he collected because he eventually played but it was stated at the time that most players with a 1st-round draft grade will get insurance to guard against a devastating injury and the loss of income.

As McCoy's father says, the premiums aren't cheap but they are probably a sound investment. Otherwise, kids would turn pro before they were ready more often.