annuities are insurance products.
I have no issue with schools doing this but, I see this making the gap between the top reveune schools and others greater. What will stop a school from telling a stud recruit we will buy you a $5MM insurance policy once you sign your LOI? Based on what aTm did, it is not a violation.... If the school buys a policy that has a partial return of premium rider once the kid does not get injured, can it be given to the student athlete upon expiration of eligibility? If so, another way to entice an athlete to a school.
I agree with your take. Let the players use their earning potential to get the insurance instead of letting the schools pay direct.
Why coudn't they if a bank was willing to take the risk? Would that be any different than a kid going to med school to be a surgeon taking out insurance on their hands? The only way it would be a violation would be if the bank said they only offer "career" insurance to the football team.
This is what I thought players were doing in the past. I sure don't see where the schools should be coming up with the money to pay insurance.
