Mike Florio

Would it be legal for his parents to take out a policy with borrower money?

 

Or just pay the damn premium

 

The premiums on those policies are pretty high. I don't know if his parents could afford them.

 

Come on, that's the trick with insurance, cheap premiums with big payouts, can't be that high.

 

That's life insurance based on actuarial tables predicting that the company will make money before you die. The likelihood of a running back blowing an ACL is much higher

 

its a little different for those policies. Only a few companies will write for that kind of policy.

 

McGahee's policy didn't pay out. Those policies are for injuries that totally prevent you from playing. McGahee played a few years in the NFL. Those policies are generally a waste and I'm fairly certain none have ever paid out.

https://en.wikipedia.org/wiki/Willis_McGahee#College_career

 

Oh, well didn't know that.

 

I thought I read somewhere that the Louisville basketball player's paid out but it may have been the policy the school is allowed to pay into that covers healthcare expenses.