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DeSean Jackson took out insurance policy before season

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DeSean Jackson and the Eagles haven’t come to agreement on a new contract, so Jackson found another way to protect his long-term financial interests before the season got underway.

Jeff McLane of the Philadelphia Inquirer reports that Jackson said that he took out a multimillion dollar insurance policy against a serious injury when he was holding out from the Eagles early in training camp. Per McLane, the details of the policy were finalized just before the opener against the Rams. Jackson, who is making $600,000 this season, said he doesn’t know the exact figure, but that the policy is worth “millions.”

Such policies are common among college players as protection against serious injury before they become professional athletes. It is a prudent move for those players and it would seem to be a prudent one for Jackson as well. He has a history of concussions, including one courtesy of a hit from Falcons cornerback Dunta Robinson. The Eagles play the Falcons on Sunday night.

Jackson’s policy runs through the end of this season. By that point he will be in position to get a new deal, either as a free agent or as the recipient of a franchise tag from Philadelphia, or he will have come to an agreement with the Eagles.

Or he’ll be injured and collecting the proceeds from the policy. That’s clearly a worst-case scenario, but that’s why insurance exists.

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25 Responses to “DeSean Jackson took out insurance policy before season”
  1. edmazeing1 says: Sep 15, 2011 5:07 PM

    Smart move!!!

  2. snowpea84 says: Sep 15, 2011 5:07 PM

    A 1 year insurance policy worth millions for a guy who could break at any point…..I’d be really curious to see what the numbers in this deal look like.

  3. skins716 says: Sep 15, 2011 5:18 PM

    pay this man his money! he is a game changer! this is coming from a redskin fan

  4. kevinfromphilly says: Sep 15, 2011 5:27 PM

    Boy, if he DIDN’T have a policy like this, his agent would need a whole lot of that malpractice insurance you were talking about earlier.

  5. davikes says: Sep 15, 2011 5:32 PM

    First thought – his agent is earning his money by doing the right thing for DJ.

    Second thought – did his agent also cover himself for lost revenue if DJ gets hurt and can’t get the big payday?

  6. opiedamus says: Sep 15, 2011 5:35 PM

    @ kevinfromphilly: in the time it took me to sign in, you usurped me…….yeah, I don’t feel comfortable using that word either.

    This is kinda a no brainer and the policy insures him against career ending injury, not a concussion or blown knee…..”catastrophic policy.”

  7. eatlessveggies says: Sep 15, 2011 5:46 PM

    I agree that was smart.

  8. flavordave says: Sep 15, 2011 5:47 PM

    Ususally I dont like players saying theyve “outplayed” their contract and want a new one. DeSean however has in fact outplayed his rookie contract. He should recieve a Santonio Holmes type deal, and will with another team next season if the Eagles continue to have their arms crossed at him.

  9. badphish24 says: Sep 15, 2011 5:50 PM

    pretty sure we read about this a month or so ago

  10. mike83ri says: Sep 15, 2011 5:58 PM

    Sounds like he’s already smarter with money than Chris McAlister.

  11. skoobyfl says: Sep 15, 2011 6:05 PM

    Normal people should be able to take out insurance policies if they become unemployed, oh that’s right it’s called welfare.

  12. jimmytwotimes says: Sep 15, 2011 6:10 PM

    Was it Geico , Aflac ,or Progressive ?

  13. jimmytwotimes says: Sep 15, 2011 6:12 PM

    Just the fact that he can afford the premiums on a multi-million dollar insurance policy makes it hard for me to express any sympathy !

  14. dannomac21 says: Sep 15, 2011 6:31 PM

    i agree with the skins fan. pay jackson what he’s worth.

  15. norcaleagles says: Sep 15, 2011 6:32 PM

    SKOOBYL, That was a pretty lame one there. Actually, it would be unemployment, not welfare.

  16. scudbot says: Sep 15, 2011 6:44 PM

    That insurance policy is probably a much better idea than trying to sell 30″ rims and bling on eBay.

  17. nevermore52 says: Sep 15, 2011 6:50 PM

    What he really needs to do is eat a sandwich and lift some weights. There is minimal chance of such a slight (however talented) player having a consistently successful career without incurring a major injury or two.

  18. cav2ya says: Sep 15, 2011 6:51 PM

    PAY DJak!

    the dude is responsible for some of the best plays in the last 3 seasons.. seriously, what eagles fan didn’t love the icing on the cake last Nov when they beat the Giants? Why can McCoy get a new deal? or some of the new acquisition players,
    And yet, the Arabian stallion in our stable is still eating hay instead of fillet?

  19. justanotherdummy says: Sep 15, 2011 6:54 PM

    All the drunken stumblebums in Philadelphia are beseiging the radio stations with the dire consequences of not signing Desean to a new deal right this second. The not-idiots in the group have heard of the franchise tag that can be used on players to prevent them from leaving town. You cannot swing a dead cat without hitting a brain dead idiot in Philadelphia, and that is coming from somebody who lives here and has season tickets.

  20. freedomispopular says: Sep 15, 2011 7:52 PM

    This is what all guys dissatisfied with their contract should do.

  21. gpete1962 says: Sep 15, 2011 8:07 PM

    The key word is “career ending” if this Idiot blows out his knee, that’s not considered a career ending injury.

    He must not know Leon Washington then. The Eagles will do the same thing to Jackson that they did to Leon.

    After he’s broken they’ll take him out with the rest of the trash.

    First thing I’d do is find a new manager.

  22. deenice810 says: Sep 15, 2011 8:21 PM

    Non story. Who cares.

  23. cursivel says: Sep 15, 2011 9:10 PM

    This is pretty ingenious. I wonder why more underpaid players don’t do this. That way they don’t have to worry about getting injured before they get their deals (which is why most hold out) and they can throw caution to the wind and play with a free mind.

  24. opie333 says: Sep 15, 2011 9:44 PM

    if a messed up knee is not career ending I don’t know what is??

  25. greymatterstats says: Sep 15, 2011 10:04 PM

    It would be an interesting story to drill down on how they price these policies, what is actually covered, and how would a career ending injury be determined.

    Assuming that Jackson would get somewhere around 25M guaranteed, can he possibly be insured for that much? Seems to me that the premium would be close to what he is scheduled to make this year. Maybe the agents front the money and recoup it when a new deal is signed.

    If a player can insure himself for what the open market would pay him in free agency, it would be a huge bargaining chip for the player to say, “Pay Me Now” or I will insure and not re-sign with you (franchise tag not with-standing).

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