A insurance program can covers over seven thousand clubs and around 450 thousand players against accidents. The protection is intended not only for the players of the national team, the 1st and 2nd league and the first league. It is also intended for female and male footballers of all ages, including children and adolescents.
Understanding for footballers is the most innovative program operating on the market. It introduces a new model of claims handling. In addition to standard liquidation, the insurer provides players with cashless treatment of medical and rehabilitation costs. Via the hotline, the injured football player can arrange an appointment with a specialist (over 51 specializations, including an orthopedist, surgeon, neurologist, ophthalmologist, psychologist), arrange a rehabilitation procedure or ask for transport to a medical facility.
The scope of a program coverage is related to practicing sports, i.e. when the player is under the care of the club during training sessions, matches, training camps and sparring. It mainly includes the consequences of an accident, e.g. fractures, sprains or sprains. The catalog of benefits for the insured will include compensation for permanent health impairment, reimbursement of the costs of purchasing orthopedic equipment, professional training, organization and treatment process, including rehabilitation.
The greatest wealth of a young athlete is represented not so much by the hefty salaries and bonuses (with which he has perhaps managed to buy some properties), but by the integrity of his ” human capital.”, Ie from his ability to continue to create income for a period of time that usually lasts no more than 10 years (although in some sports such as football for example it is usually 15 years). This is why it is important that this “human capital” is best ensured for the entire effective period of activity, that is, with policies that provide shelter in the event of accidents, illnesses up to (making the debts averting) death. . The more than 40 Italian federations are obliged by law to have their athletes take out policies, with the sportsman having the right to possibly add an “additional” one to better protect his “human capital”.
Life insurance at the service of the transfer window! Manage your fortune well to avoid misfortune
“The life of a top footballer is entirely focused on the winning trophies, and too little on the use of their personal earnings. Gaming tactics must coexist with patrimonial tactics. However, very wealthy athletes sometimes find themselves in a bad way when it comes to asset management and experience a lot of setbacks at the end of their career due to a lack of advice ”, declares David Liebmann, French market manager at Lombard International Assurance. Recent studies (see table below) have, for example, shown that 78% of NFL players risk personal bankruptcy within two years of their retirement from sports, and that 60% of NBA players find themselves, after five years, in a similar situation. The observation in European football is not fundamentally different. These statistics are shivers down the spine, especially since these athletes are among the best paid in the world. With around ten years on average, sports stars have short careers and are therefore more inclined to focus on their short-term goals. Their heritage objectives are for the long term.
Need To Manage A Multi-Jurisdictional Heritage In The Face Of The UnKnown
The transfer window is very often synonymous with cross-border transfers that take place quickly. In practice, athletes regularly only have a few working days to transfer their residences and complete the necessary administrative and declaration formalities at the level of the country or countries of exit and destination. Bank accounts, liquid securities portfolios, commercial real estate holdings, venture capital investments, etc. They also want to leave the least administrative traces behind them in the country (or countries) they are leaving.
To simplify their transfers, these high-level athletes must therefore have solid heritage solutions that can easily adapt to the regulatory, fiscal and civil frameworks of the countries of destination, while differing or optimizing, as much as possible, fiscal friction at the level of the country they are leaving or even, for some, of the country of which they are nationals. International athletes must therefore find simple answers to their international lifestyle and their complex multi-jurisdictional fortunes.
If you talk about the disadvantage, I do not see any disadvantage it. It is true that it is hard to bear for some people. But still it is important because you health is more important than the money. The price of sports insurance is affected by the selected indemnity amounts and the sport you play. Sports are divided into four categories based on their risk profile. So it is not a problem at all.