Module Key Topic

It is important for athletes to identify and manage potential risks as well as recognize different types of fraud so that they can take measures to protect themselves from such risks. Athletes can protect themselves and their personal finances in a number of ways whether that means buying different types of insurance to cover basic and sport-specific needs, protecting their wealth and their family, or limiting the disastrous financial effects of a divorce. This module outlines the elements of risk and insurance. It also discusses the concepts associated with risk and insurance and offers advice as to how student-athletes can treat these elements at different points of their lives both within and outside of sport. The module is divided into seven separate sessions with each session addressing a key area of the module’s theme.

Module Learning Objectives

• Athletes face different types of risks due to the special nature of their circumstances.
• Insurance is a form of risk management whereby you transfer the risk from you to the insurance company for a fee.
• The basic insurance needs of athletes include health, auto, and home contents insurance.
• The specialized insurance needs of athletes include temporary disability, career-ending, loss of value and accidental death clauses, loss of endorsement coverage, sports travel insurance, and ransom and extortion insurance.
• Asset protection and an estate plan are a necessity for professional athletes to guarantee the preservation and protection of their wealth for a longer time horizon.
• Prenuptial and cohabitation agreements have a positive effect on the financial lives of athletes and they save them from future hardship.

Module Time Frame

Each session video runs an average of 7 to 8 minutes and students will need approximately another 10 minutes to complete the session exercises.

Materials given with purchase

• Access to teaching videos for each session of the module.
• Downloadable student workbook for each session of the module.

Session Completion

Each session will need to be completed to allow the student to go to the next one. Upon completion of the entire module, the student will receive a certificate of completion.