As part of a much larger and longer first-person account of his recent neck injury and aftermath, Green Bay Packers tight end Jermichael Finley revealed he has a $10 million disability insurance policy that provides him with financial security:
My agent and financial advisers have always preached the importance of disability insurance to me. As athletes, we often feel invincible, which is why it is so important to have advisers who you can trust and who can also take the emotion out of any situation. I don’t feel the pressure that I see many athletes do because I’ve taken their advice. I currently have a $10 million insurance policy in place. If this injury prevents me from ever playing football again, I will be able to collect on $10 million tax-free. For me, this is the equivalent of making another $16 million or $17 million in pre-tax salary. While money has absolutely nothing to do with my decision to play, I can sleep at night knowing that regardless of what happens, my family is financially secure forever—maybe the biggest odds I’ll ever overcome. Disability insurance is never a fun conversation, and writing those annual checks to protect myself is tough. But now, more than ever, I understand the importance of protecting yourself, protecting your family, and protecting your future earnings.
At what point the Packers make a decision on Finley’s future, at least in the short-term, remain unknown.
To hear about Finley’s injury in his own words is scary and touching all at once. The whole story is highly-suggested reading. Click the link above.