BROCHURE
The  inks Disability Insurance --
Income Protection Program for
Professional Golfers
Underwritten by
Lloyd's of London
Disability Insurance for professional golfer is available through a product
designed specially for this occupation. Touring Pros, Club Pros, and Teaching Pros are all
eligible.
 Featuring:  Worldwide 24 hr. Coverage Accident and Sickness Coverages
Optional Plans or Plan Designs:
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 earning potential a
primary financial planning process. Here are some of the uses of these plans:
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 ha no income assurance
beyond the term period of the present contract. 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 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 relation
goof, and the advertiser/endorsers pull back from sponsorship. This loss 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 contract 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.
Professional Athletes
Career Ending Disability |
Purpose: Personal Disability Contract Guarantee Loss of
Image/Endorsement Featuring:
Worldwide 24 hr. Coverage
Accident and
Sickness Coverages
The Principal Sum is payable after
the specified elimination period. The Principal Sum Benefit may be taken in a single lump
sum benefit or designed to Pay Lifetime Benefits as an annuity of the lump sum.
PRINCIPAL SUM
Eligibility for the Principal Sum Benefit is conditional upon the Insured having
been Totally Disabled for the entire Elimination Period and is then determined by
competent medical authority to be Permanently totally disabled. Total disability must
result from a bodily injury caused by an accident occurring while this Certificate is in
force and results in disablement within six months of the date of the accident, or
sickness or disease that manifest itself while this Certificate is in force and results in
disablement within six months of the date of the accident, or sickness or disease that
manifest itself while this Certificate is in force and results in disablement within six
months of the date of such manifestation.
Special Features:
This is not an integrated policy! this
benefit is payable, in additional to and not reduced by, any other
disability benefits provided by this or any other plan.
The Principle Sum Benefit may be taken in
a single lump sum benefit or designed to Pay long term Benefits
as an annuity of the lump sum.
Conditions:
As injury is a bodily Injury only if it is the
direct consequence of an Accident and is not the accumulation of a series of accidents or
traumas and if it is not directly or indirectly caused by, contributed to by and/or
aggravated by any physical impairment, defect, degenerative process or infirmity existing
prior to the inception of this Policy. A physical impairment, defect, degenerative process
or infirmity existing prior to the inception of this Policy or in the event that it has
not been so diagnosed then, in the opinion of a health care practitioner the Insured could
reasonable have been expected to be aware of its existence on the date of inception of
this Policy.
Not Covered:
War or any act of war, whether declared or not, suicide, self destruction, attempted
suicide or self destruction, or intentionally self-inflicted injury, while sane or insane;
the Insured's own criminal or felonious act; being under the influence of alcohol, as
defined by the motor vehicle laws of the state in which this Policy was delivered or
issued for delivery; being under the influence of drugs or narcotics that are not lawfully
available, unless prescribed for the Insured by a qualified health care practitioner;
using drugs or substances in violation of the rules or regulation of the sanctioning body
of the league in which the Insured plays; The Insured's use of performance enhancing
substances including but not limited to anabolic steroids, stimulants or corticosteroids,
regardless of whether or not prescribed by a qualified health care practitioner; any
practices or activities excluded by the Insured's professional sports contract in
connection with his Occupation; conditions of Psychotic, Psychoneurotic or Epileptic
origin, Osteoarthritis, arthritis or any other degenerative process of the joints, bones,
tendons or ligaments.
Professional Athletes
Monthly Disability Benefit |
Proposed Use of This Insurance:
Personal Disability Contract Guarantee
Team Indemnification Loss of Image/Endorsement
Monthly Benefits will be paid to the Insured when Totally Disablement means the
Insured's complete and total physical inability to participate in his/her regular
occupation. Benefits will begin on the first day following the elimination Period and pay
for each month or portion of a month missed by the Insured during the team's Regular
Season (s), but not for longer than the Maximum Benefit Period.
Insuring Agreement:
If injury or sickness results in the Total
Disablement of the insured and such total Disability commences during the Policy
Period and within six (6) months of the date of the accident causing bodily injury, or in
the event of sickness within six (6) months of the date such sickness first manifest
itself, the Underwriters will pay to the Insured the Monthly Benefit Amount.
Special Features:
Recovery, Recurrent and
Subsequent Disability:
If the Insured returns to play after a
period of Total Disablement for which benefits were received, and is able to participate
in the Regular Season, a Total Disablement commencing thereafter will be subject to a new
Elimination Period. If the Insured suffers a recurrence of Total Disablement during the
Regular Season as a result of the same Accidental Bodily injury or Sickness or Disease,
such recurrence will be deemed part of the prior disability for the purpose of satisfying
the Elimination Period. With regard to any such recurrent or subsequent disability as
insured, the Underwriters will pay the monthly benefit only for the unused portion of the
maximum benefit period not previously exhausted by the payment of monthly benefits due to
any prior disability or disabilities.
Not Covered:
War or any act of war, whether declared or not, suicide, self destruction, attempted
suicide or self destruction, or intentionally self-inflicted injury, while sane or insane;
the Insured's own criminal or felonious act; being under the influence of alcohol, as
defined by the motor vehicle laws of the state in which this Policy was delivered or
issued for delivery; being under the influence of drugs or narcotics that are not lawfully
available, unless prescribed for the Insured by a qualified health care practitioner;
using drugs or substances in violation of the rules or regulation of the sanctioning body
of the league in which the Insured plays; The Insured's use of performance enhancing
substances including but not limited to anabolic steroids, stimulants or corticosteroids,
regardless of whether or not prescribed by a qualified health care practitioner; any
practices or activities excluded by the Insured's professional sports contract in
connection with his Occupation; conditions of Psychotic, Psychoneurotic or Epileptic
origin, Osteoarthritis, arthritis or any other degenerative process of the joints, bones,
tendons or ligaments.
Conditions:
No benefits are payable in the event of participation, or attempted
participation after commencement of Total disability unless first approved by the Team
Physician.
No benefits are payable if the services in the Insured's occupation are terminated or
altered to decrease compensation and/or the period of the contract unless the Insurer is
notified and agrees in writing to continue the coverage in force. If the Insured engages
in an occupation or activity of greater risk without obtaining the Insurer's permission in
writing and paying any additional premium, no claim is payable.
Specified Occupations:
These plans are Specified Occupation Plans. They will terminate
automatically if the Insured changes from the occupation in which he/she was engaged in at
the time the Plan was issued, unless an agreement has been obtained in writing from the
underwriters and any additional premium required by the underwriters has been paid. The
sole liability of the underwriters in the event of an occupation change shall be to return
on a pro-rata basis any unearned premium paid for the balance of the Plan term.
Term of Coverage:
These Plans are annually renewable, or for negotiated longer period
of time. It is contemplated that the plans will be renewed; however, the underwriters
reserve the right to refuse to renew or to change the premium rates on renewal. A
statement of good health may be required by the underwriters for consideration of renewal.
This is a brief description of the
insurance provided by the plan. The Certificate of Insurance is the complete description
of coverage.
For more
information & quotes, please contact us
today.
info@internationalriskmanagement.com
877-211-3654 or
559-294-0316
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visiting our website.
www.InternationalRiskManagement.com
|
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