The NCAA requires that student athletes have medical insurance for potential injuries. (Photo: Shutterstock)
There are roughly 800 student athletes on the 68 basketball teams competing for the title of the NCAA Men’s Division I Basketball Championship. Behind the hard work, long practices and team spirit, there is an entire business aspect that interests insurance agents.
Since 2005, the NCAA requires all universities to verify that each of their student athletes has medical insurance in place for potential injuries before they can compete in games or participate in practice and team workouts. The policy can be held by the student athlete, their parents or guardians, or through the school itself.
NCAA Programs
The NCAA’s Catastrophic Insurance Program covers students who are “catastrophically injured” while participating in a covered activity such as intercollegiate games. The policy offers benefits, but only for expenses above its $90,000 deductible. As such, the NCAA requires that student athletes’ personal policies cover expenses up to the program’s $90,000 deductible.
The NCAA also offers a disability program for approved students that protects them against the loss of future earnings if an injury during their college career prevents them from playing professionally. The Exceptional Student-Athlete Disability Insurance Program is only available for qualifying athletes in the baseball, basketball, football and ice hockey programs who have been approved by the head of the program.
