Florida State quarterback Jameis Winston is quite the prized commodity heading into the 2014 college football season. The reigning Heisman Trophy winner led the Seminoles to the ACC and BCS national championship in 2013 and now his stock continues to rise as a potential first round NFL Draft pick, whenever he decides the time is right to turn pro. Knowing what is at stake with his potential professional career, Winston has taken out a significant insurance policy valued between $8 and $10 million, according to a report by Yahoo Sports.
According to the report by Yahoo Sports, the value of the insurance policy was estimated base don a projection of Winston being a top 10 NFL Draft pick in the 2015 NFL Draft. Winston’s father has stated before Winston intends to play football at Florida State for two more years, which would send the quarterback to the NFL in 2016, but it is always best to be prepared for every scenario on the table. If Winston were to enter the 2015 draft, he would cash in on the insurance policy if he fell out of the first round as a result of an injury or illness.
The report also cites information from industry sources that suggest the premium for an insurance policy of this magnitude can cost anywhere between $55,000 and $60,000. These types of policies are allowed by the NCAA
It is not at all out of the ordinary for a returning superstar at the collegiate level to take out an insurance policy of this magnitude. Last year it was reported South Carolina defensive end Jadeveon Clowney took out a $5 million insurance policy prior to the 2013 season. Clowney ended up going number one overall in the 2014 NFL Draft.