Another recent settlement involving a career-ending injury has emphasised the need for professional footballers to ensure they have adequate insurance cover.
Tony Vaughan suffered an injury while on loan to Stockport from Barnsley that effectively ended his career. Fortunately, he had taken out a personal accident and sickness policy which provided insurance cover in the event of accidental death or permanent total disablement (due to accident or illness).
Ex-Wimbledon player Steve Talboys, development executive with Aon Sport, which managed Vaughan's undisclosed settlement, commented: “There's little you can do to prevent an accident or illness but you can protect yourself against loss of earnings. It is even more crucial now to be prepared for an early career exit since recent pension changes mean that some players can no longer collect their benefits from 35 years old, but must wait until they are at least 50.”
Vaughan said: “The pay out has given me time to assess the next step, now my career in football has sadly ended. There are still players who are put off by the insurance premiums, but it was well worth the cost — you can't afford not to have the cover. I'd recommend any player, in any league, to seriously consider how they would financially cope if their career were to suddenly end and think about the benefits of receiving a lump sum payment.”
