According to Rand Getlin of Yahoo! Sports, Florida State quarterback Jameis Winston has taken out a large disability and “loss of value” insurance policy policy.
Florida State University quarterback and Heisman Trophy winner Jameis Winston has purchased a large disability and “loss of value” policy that provides him with $8 million to $10 million in insurance coverage, a source close to the situation told Yahoo Sports.
According to the source, Winston is the first returning Heisman Trophy winner since former Oklahoma quarterback Sam Bradford to purchase preseason loss of value coverage, though other returning winners have purchased “total permanent disability” coverage during that time frame. Winston’s policy is based on a projection that he will be selected in the top 10 of the 2015 NFL draft and would theoretically pay out if he fell out of the first round due to injury or illness.
Getlin also reported that experts claim college athletes who take out insurance policies like this typically go pro the following year. This is very interesting since Winston’s father thinks his son will finish school before he heads to the NFL.