Diasbility Insurance for athletes: Do not be like Terrell Owens

Oct. 15, 2012 - PRLog -- In today's era of free agency and short-term contracts, the professional athlete is faced with a bewildering variety of choices when it comes to disability insurance.

The athlete is tasked with making what could be a life-changing decision, but the exact nature of that decision may not be clear among the various terms, types of coverage and quotes that are offered. An even greater challenge arises in providing the cash up front to meet the premium.

Any one of these issues could have major implications in the event of injury or illness, but they all must be decided in the high stakes atmosphere of new contract negotiations.

Unfortunately, many athletes and entertainers, when confronted with daunting and complex disability insurance choices – and the prospect of a significant up-front cash commitment – end up not purchasing enough disability insurance to adequately protect their most valuable asset: themselves.


Or, worse, they neglect to purchase any disability insurance at all.
Maybe thats what happened to T.O.  He did not buy disability insurance at all.

And as you can see he did not choose the right person to manage his finances.

Read the article  about what he has to say :

Terrell Owens worries about finances on 'The T.O. Show'Terrell Owens is used to multi-million dollar NFL contracts, not the uncertainty of unemployment. While rehabbing his knee and trying to get back into football, he hit a low point on the 'T.O. Show' (Mondays, 9:30PM on VH1). Feeling dire about his financial situation and frustrated by his rehab, Owens couldn't help but shed some tears.

Since he could no longer count on an NFL salary, Owens was trying to be more conscious of his accounts, but the person he had managing them was nowhere to be found. "This has been going on for the last... three to four months," said Owens. "Every time I call about my accounts or what have you, he's always gone. Football season is on a standstill, so I have no income at this point. None."

His money problems range from mortgages on his properties to child support. "I just don't get it," he said. Whenever he does get it, it doesn't look like it'll be good news.

Mintco Financial Team is specialized in Disability Planning.

Call us at  813-964-7100  to discuss your  particular situation.

Visit our websoite at www.MintcoFinancial.com