Sports can be an important part of our lives, promoting physical fitness, teamwork, and healthy competition. Whether you enjoy keeping fit, are an athlete or enjoy recreational sports in the great outdoors, there’s always a certain level of risk involved. Many who enjoy sports focus on honing their skills, setting challenges and achieving their goals, few consider the importance of sports accident insurance. Here we’ll delve into three aspects of sports accident insurance, exploring what it is, why it matters, and how Sports Financial Services can be of assistance.
Understanding Sports Accident Insurance
The sports specialists at Sports Financial Services offer three types of Sports accident insurance. This includes life insurance for sports, income protection for sports and critical illness cover for sports.
Why Sports Accident Insurance Matters
Financial Security: The most obvious reason to consider appropriate sports accident insurance is financial protection. Living costs, bills and loss of income from time off work can quickly accumulate after a sports-related injury. Appropriate sports accident insurance can help assist with some of the costs of living ensuring you some financial peace of mind as you recover.
Injury Prevention: Knowing you have insurance can provide peace of mind, reducing anxiety and allowing you to focus on your game. This mental assurance can help prevent injuries by reducing stress and promoting better decision-making on the field.
What type of Sports Accident Insurance does Sports Financial Services offer?
The sports specialists at Sports Financial Services understand the common needs and challenges that sports participants encounter. We also take time to understand your wider lifestyle and the specific circumstances faced in addition to your enjoyment of sport.
Those interested in sports accident insurance cover can discuss the following with Sports Financial Services:
Life insurance: this is a type of cover that pays out a lump sum if the policyholder dies during the policy term. It is there to provide some financial support for your family or loved ones after you are gone. This could assist in helping to contribute to mortgage payments or provide some financial support for your dependents.
Critical illness cover: this is a way to cover specific illnesses or medical conditions that might disrupt your life, family and finances. Anyone who takes part in sports and enquires about critical illness cover will have their enquiry assessed against their sport participation and lifestyle. Cover for different types of sporting activities will be assessed differently.
Cover for some sports can be offered at standard rates with no special terms imposed whilst participation in other sports may result in premium loadings, special terms, restrictions or exclusions. Your sports specialist at Sports Financial Services will talk you through the options available to you based on a number of factors including your sport and lifestyle.
Income protection: another important cover to consider is sports income protection cover. Income protection could provide you with peace of mind if you are unable to work due to injury or sickness.
If you have a loan, mortgage, credit cards, regular bills or family financial commitments then you may want to consider what would happen if you were unable to meet the payments because of a loss of income if you are unable to work.
Applications for income protection are dependent on many factors, for example, whether you have previously suffered any injuries as a result of your sport and whether they have caused you to have a significant amount of time off work.
Again, like life insurance and critical illness cover, participation in some sports and activities may result in premium loadings, restrictions or exclusions. Your sports adviser will discuss your needs and the options available to you.
Sports Accident Insurance with Sports Financial Services
Sports accident insurance is a financial safety net that every sportsperson should consider. It provides important financial protection and offers you and your family peace of mind.
If you’re interested in learning more about financial protection and sports accident insurance, please contact a sports specialist at Sports Financial Services today at 0345 565 0935 or complete our online enquiry form.