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Key player plan for top sports clubs

Top football and rugby clubs can cover the cost of replacing multi-million-pound stars with a new life insurance plan from Sun Life Financial of Canada.

The plan pays a lump sum on the death of a player up to a pre-agreed maximum. It is available to Premiership and Nationwide League football clubs and Premiership rugby clubs.

In the event of a club losing more than one player in an incident, the lump sum would be the cost of the most expensively valued player. Payment is made within 24 hours of receipt of claim documentation.

SLFOC says premiums are relatively affordable as the cost of life cover for people in their 20s and 30s is relatively low.

Group insurance underwriting and affinities director Bob Bowskill says: “Manchester United, for example, has spent around £80m on new signings in the last two seasons. Losing a player in the event of death would not only be emotionally painful to deal with but could also damage a club&#39s finances and prospects through having to buy a replacement player.

“Clubs need to have peace of mind and financial security should they lose a player suddenly and we have designed this new policy to help them avoid financial problems in the event of this happening.”

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