It’s not uncommon for college football players coming out and entering the draft to take out insurance policies in case their football career is derailed by injury for whatever reason so they can collect a payment, even if they haven’t yet played a down in the professional ranks yet.
Former Louisville QB Teddy Bridgewater recently took out a policy, according to ESPN.com, but it’s not in case of injury. No, Bridgewater’s “loss-of-value” policy will protect him in the case that he slides down the draft board next week and he could collect a tax-free sum of $5 million in addition to the injury policy he had already purchased.
Sources tell ESPN.com that after the quarterback completed his junior season at Louisville, he added $5 million on top of his already purchased $10 million total disability injury policy and supplemented it with $5 million in loss-of-value insurance.
Immediately following the end of this past college football season, most considered Bridgewater to be a near lock for the top overall pick of the Houston Texans, but since the draft process has begun his stock has dropped tremendously among the scouts, with some not even having him pegged as a first-round prospect anymore.
Basically, for anyone that might be confused as to what this means still, each time Bridgewater falls next week, should that end up being the case, he will continually pick up hundreds of thousands of dollars.
So, this was actually a smart move on Bridgewater’s part.