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Insurance for Turang?
Posted on 6/13/18 at 12:28 pm
Posted on 6/13/18 at 12:28 pm
I searched and didn’t see this discussed anywhere. Can’t he get an insurance policy that would protect some of his value in the event of injury or lost draft status? I am a risk averse type and would only consider college if I knew I could lock in my losses. If he can do that, college isn’t a huge financial risk and is a safe option to consider. I’m surprised there hasn’t been more discussion about this.
Posted on 6/13/18 at 12:41 pm to pelicanpride
Position players are not at a particularly high risk for injury. Really the only thing that could affect his future draft status is if he suddenly forgets how to hit and field the ball should he choose the college route.
Posted on 6/13/18 at 12:48 pm to pelicanpride
quote:
Can’t he get an insurance policy that would protect some of his value in the event of injury or lost draft status?
He can, if he chooses, but the policies are very expensive and the companies involved have a very poor track record of paying out. This was covered briefly when Fournette's parents took out a policy his junior year. The gist was they paid a massive premium for something that likely would have never paid out.
Posted on 6/13/18 at 12:52 pm to pelicanpride
Doesn't make much sense in his case. If he was 21st out of high school, barring a complete lack of improvement over 2+ years, his stock will only go up. Could end up 1-2 by the time he comes out. If he comes to LSU that is.
ETA: Also, those policies are intended for injury related type things. As another poster said, it's unlikely for a position player to have an injury that would hurt his draft stock.
ETA: Also, those policies are intended for injury related type things. As another poster said, it's unlikely for a position player to have an injury that would hurt his draft stock.
This post was edited on 6/13/18 at 12:53 pm
Posted on 6/13/18 at 12:54 pm to pelicanpride
I cant imagine there being a policy for "lost draft status" unless it's injury related. IF there is one, the premium has to be batshit crazy expensive.
Posted on 6/13/18 at 1:06 pm to thunderbird1100
Is it against NCAA rules for an LSU booster(s) to say, if you don't get drafted with a slot value equal to or greater than the one coming out of high school when you leave LSU, we will pay you the difference? Basically, are retroactive payments to former players against NCAA rules?
Posted on 6/13/18 at 1:12 pm to ccox11
If you are Turang, would you take a handshake deal like that? I wouldn't. I also wouldn't think that any booster would pay a kid because he underperformed either.
This post was edited on 6/13/18 at 1:13 pm
Posted on 6/13/18 at 3:01 pm to LSUfreak1459
Actually it is now allowed for the college to pay for the policy
Posted on 6/13/18 at 3:14 pm to thunderbird1100
I imagine you can write a policy for anything that you want, and I’m not saying that he would want coverage for only dropping a few spots. I imagine that would cost a fortune. Maybe these policies don’t exist like I thought they did, or maybe they are prohibitively expensive. All I’m saying is that there is no way I would walk away from $3M guaranteed unless I knew I could put some sort of floor on my losses. That is life-changing money if he’s not an idiot with it.
Posted on 6/13/18 at 3:21 pm to tigerbacon
quote:
Actually it is now allowed for the college to pay for the policy
I remember reading that. Also, the player could just pay the total premium after going pro. There is no need to have the money in advance. If the insurance company ends up owing him, they could pay what they owe minus the premium owed to them.
Posted on 6/13/18 at 3:24 pm to ccox11
quote:
Is it against NCAA rules for an LSU booster(s) to say, if you don't get drafted with a slot value equal to or greater than the one coming out of high school when you leave LSU, we will pay you the difference? Basically, are retroactive payments to former players against NCAA rules?
Without doing any research, hell yes. At one point it was against the rules for a coach to spot you 50 cents for a coke during a campus tour, even if all you had was a $5 bill and planned to pay him back at the end.
NCAA = No Clue About Athletics
Posted on 6/13/18 at 4:01 pm to pelicanpride
quote:
Also, the player could just pay the total premium after going pro.
that's not insurance man. so if the kid doesn't make a pro, the insurance company eats it? shite don't work that way. insurance contracts require consideration to be binding.
Posted on 6/13/18 at 4:23 pm to LSU GrandDad
quote:
that's not insurance man. so if the kid doesn't make a pro, the insurance company eats it?
If the kid doesn’t get drafted, the insurance company would owe him minus the premium. I’m almost certain you could write a policy that works like that. There are financial instruments that work that way already.
Posted on 6/13/18 at 7:22 pm to pelicanpride
Hey if he's that confident in his ability GO Freakn Tigers. Lots of kids go to college and turn down that type of money. Florida gets them all the time. They also have a track record proving that it's a benefit to them. I assure you that Bregman, Nola, and Lange don't regret coming to LSU.
LSU is a premium school that will put you in a spotlight. I would come if I knew I could get more later. Especially if I didn't need the money at the moment. To experience the college life while being a star for a team who regularly is seen at the CWS is something you'll never get back.
If I'm confident in my ability, I would pass that money up to come to college. Now when you get over 5 mill to 10 mill then I would probably just pay someone to take me to campus for a weekend to experience it as a millionaire LMAO.
LSU is a premium school that will put you in a spotlight. I would come if I knew I could get more later. Especially if I didn't need the money at the moment. To experience the college life while being a star for a team who regularly is seen at the CWS is something you'll never get back.
If I'm confident in my ability, I would pass that money up to come to college. Now when you get over 5 mill to 10 mill then I would probably just pay someone to take me to campus for a weekend to experience it as a millionaire LMAO.
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