View more on these topics

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.”

Recommended

A defining time for pensions

2002 seems to be the year of the review. On the pension front, the Pickering report was published just after Sandler in early July while the Inland Revenue&#39s recommendations on tax simplification are still to come.IFAs&#39 employer-sponsored pension dealings are mainly of the defined-contribution kind, mostly in the shape of GPPs, stakeholder and AVCs with […]

Royal London and Mortgage 2000 link up

Royal London has chosen sourcing company Mortgage 2000 to provide an online electronic trading platform for its tied salesforce advisers as part of a strategy to offer a full range of financial products. This follows a pilot of the service in London since April. Mortgage 2000 will offer sourcing and illustration facilities and an electronic […]

Positively charged

It is some 18 months since I last looked in this column at the technology being used by Positive Solutions. In this time the firm&#39s registered individuals have more than doubled to over 500. It was no surprise to me last March when the company won the Money Marketing Award for the best use of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment