PERSONAL ACCIDENT COVER FOR PLAYERS
(INCOME PROTECTION)
BACKGROUND
As you are probably already aware, Rushworth Football & Netball Club Inc cannot take responsibility for players for this type of cover, because of the cost involved.
Players are encouraged to take up their own income protection insurance. If you are injured playing football and cannot work, and have used up any accumulated sick leave (and maybe annual leave) you have, you will probably not be paid, so you need to think seriously about this form of insurance e.g. what will happen to your regular commitments such as mortgage, car payments etc if you have no income coming in and no savings to fall back on?
Individuals can not just take out income protection themselves, it has to come from club level. So if you are interested in taking out income protection, please contact either Kim (President), Sherie (Secretary) or Tony (Treasurer) as someone will need to help set it up, and sign the paperwork.
NETBALLERS
Netballers do have some cover which amounts to an automatic $250 per week of income replacement if you cannot work because of a sports injury. If you are the primary income earner in your family, you should think about paying to increase this level of cover.
The cover is basically $1 in premium for every $1 in income you want per week). That is, if you wanted to cover yourself for $200 per week (on top of the $250 through the VNL scheme) your annual premium would be $200. This would give you $450 per week.
With this type of cover, there is a 14 day elimination period – i.e. you don’t get anything for the first two weeks. The maximum benefit period after that is 52 weeks.
FOOTBALLERS
The VCFL do NOT have the sort of cover mentioned above for netballers, so it is more important for footballers to look at their situation carefully. If you opt to take out personal accident/income protection type insurance, there is no automatic basic payment. For every $1 per week you want to receive in cover, it is an annual premium of $1. e.g. you need $500 per week to meet basic commitments while you are injured – your annual premium would be $500. Sounds a fair bit, but $10 per week is not that much to give you peace of mind.
With this type of cover, there is a 14 day elimination period – i.e. you don’t get anything for the first two weeks. The maximum benefit period after that is 52 weeks.
MORE INFORMATION
JLT Freecall 1300 883 146
Website www.jltsport.com.au
This information is current as at March 2009
