Fantasy Football Insurance

It’s that time of year again folks – the NFL season is upon us.  Arguably, the NFL has become the nation’s favorite professional organization, even ahead of the MLB during the past decade.  Of course, along with the NFL season, comes Fantasy Football.  Websites such as ESPN, Yahoo, CBS Sports, and many others provide easy-to-use, FREE fantasy football programs that are utilized by millions of people each year.

Now, I do not promote gambling by any means, but many fantasy football leagues play for “money” along with bragging rights.  Bragging rights are nice, but with that money on the line, you don’t want to lose that entry fee, especially if you are a reader of this website and you “Run Your Life Like a Business.”

Well, someone out there has figured out a way to make some additional money of of this new pastime of the American people.  Fantasy Sports Insurance Inc. of Long Island, NY is offering “insurance” for your fantasy football team.  CNBC even got a hold of this concept and has wrote about it on their website recently.  This is really an unbelievable concept, but with certain league dues ranging from hundreds to thousands of dollars, I’m sure it’s a nice business model.  Below are the “Fantasy Sports Insurance FAQs” which were quoted from it’s website:

Question: What is Fantasy Sports Insurance?

Answer:
FSI is player disability coverage that will protect your fantasy league investment from a “season changing” loss as a result of an injury to a key player(s) This insurance policy will allow you to re-coup the cost of your league investment and continue with your season, lessening the disappointment and aggravation of losing your top fantasy player(s).

Question: What are the benefits of purchasing this coverage?

Answer:
NFL, MLB, NHL and MBA team owners purchase disability coverage on their KEY PLAYERS. Why shouldn’t you. FSI will not only increase your competitiveness, but also gives you piece of mind knowing that your investment of both TIME and MONEY in building your team is secure. FSI will increase the level of involvement and interest in your fantasy league.
If a devastating loss occurs…all is not lost!

Question: What are my options for coverage?

Answer:
FSI will offer three coverage options:
1)One key player misses 10 out of the first 15 NFL regular season games – due to injury
2)One key player misses 8 out of the first 12 NFL regular season games – due to injury
3)Three key players miss a combined total 18 out of the fist 15 NFL regular season games – due to injury

Question: Is FSI a really insurance?

Answer:
Absolutely! FSI is a fantasy Sports Disability Insurance policy; underwritten by an Admitted, A rated national insurance company, who specializes in sports disability insurance for NFL, NHL and NBA players and team owners. Plus this coverage is protected by the insurance department in your state of residence.

Question: How much coverage can I buy?

Answer:
FSI is designed to reimburse you for ALL of your expenditures associated with fielding your fantasy team. YOU set the amount of insurance you want to purchase. Expenses normally include the investment you made to join your league, on-line statistical data services, periodicals, publications and all other expenditures…

Question: What players will be eligible for FSI?

Answer:
FSI will compile an eligible player list of the TOP 50 pre-season ranked fantasy players. This list will be generated by collecting pre-season rankings form the top fantasy sport platforms.

Question: How much will FSI cost?

Answer:
Your cost for FSI will be based upon the amount of coverage you choose. Total cost will be calculated at a 10% rate of the insured value, plus fees.

For example: If you choose to insure ONE player for $200 – based on a 10% per $100 insured – your FSI cost will be $20.

Question: Will FSI offer different rates for different players?

Answer:
NO – FSI will take into consideration each individual player’s injury history, injury frequency and severity, to determine their eligibility for coverage. All eligible players will be covered at the same pre-determined rate.

Question: Why is FSI based on 15 games, when there are 16 regular season games?

Answer:
The NFL regular season consists of 16 regular season games. The majority of fantasy leagues, however, only use the first 15 games of the NFL regular season to determine their league champion.

Question: What will I receive as proof of coverage purchased?

Answer:

Upon your purchase of FSI, you will receive a certificate of insurance, outlining all the details of your coverage. The information will include name of covered player(s), policy limits, payment triggers, premium amount, and payout details.

Question: How and when do I get paid?

Answer:
Payment will be sent via certified check within 30 days of the conclusion of the NFL regular season.

Question: How will I know if a missed game by my covered player qualifies for the FSI?

Answer:
FSI will maintain a player status page on our site, showing all eligible players and their injured/played status for each respective game. Data will be taken from the Official NFL Game Book report.

I am involved in three separate and distinct fantasy football leagues this year, so this company’s business model is very intriguing to me!  Instead of buying the insurance though, I would be more interested in investing in the actual company!  Good luck to everyone in your respective fantasy seasons!