If you're a sports player or athlete, sports accident insurance can help counter injuries and accidents that can occur during training and competitions. See which insurers could cover you.
| Fund | Monthly Maximum Benefit | Maximum % of Income Covered | Maximum Benefit Period | Waiting Period | Apply |
|---|---|---|---|---|---|
| $30,000 | 70% | Up to 5 years | 4, 8, 13 or 26 weeks | |
| $10,000 | 75% | Up to 5 years | 14, 28, 60 or 90 days | |
| $10,000 | 75% | Up to 5 years | 14, 28, 60 or 90 days | |
 | $10,000 | 75% | Up to 5 years | 14, 28, 60 or 90 days | |
 | $25,000 | 75% | Up to age 65 | 30 or 90 days | |
 Zurich | $12,000 | 75% | Up to 5 years | 30, 60 or 90 days | More info |
 MLC | $60,000 | 75% | Up to 5 years | 14, 30, 90 days, 1 year or 2 years | |
 OnePath | $60,000 | 75% | Up to age 70 | 14, 30, 60, 90, 180 days, 1 Year or 2 Year |
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Sports accident insurance is a specific type of cover for athletes and sports players. This type of insurance is specifically designed to help offset sports risks so you can enjoy an active life. In the event of you being injured while competing you may claim benefits including:
The combination of benefits makes it a versatile and practical type of policy. It can work hand-in-hand with existing insurance to specifically cover gaps and deliver an important level of cover for sports participation.
Some plans can provide you with a lump sum payment to cover for injuries. Depending on the policy, you may be covered for:
| Injury type | Injury | How much is generally covered for these types of injuries? |
|---|---|---|
| Fractures | Hips or pelvis | $10,000 - $20,000 |
| Skull | $7,000 - 15,000 | |
| Lower leg, kneecap or ankles | $5,000 - $10,000 | |
| Forearm or sternum | $4,000 - $8,000 | |
| Wrist, hand, foot, jaw, shoulder blade; collar bones | $1,500 - $3,000 | |
| Cervical fractures e.g. neck | $1,500 | |
| Ribs, cheekbones, eye sockets, nose | $500 - $1,000 | |
| Dislocations | Hips | $7,500 - $15,000 |
| Wrist, elbow, knee, ankle | $1,500 - $3,000 | |
| Shoulder | $500 - $1000 |
You may also be able to claim lump sum benefits for specific types of injury or loss. More serious events will pay larger portions of the sum insured, while less serious ones will pay out partial amounts. In the event of multiple injuries you may be able to claim more than one partial benefit, not exceeding 100% all up.
Accident cover will protect you from various types of injuries, however the amount you receive will vary based on the type of injury.
The most serious types of injuries can pay out the full sum insured. These can include:
Partial benefits of these percentages may be paid for injuries such as:
These may be as benefits such as 1% per toe lost, or as much as 40% for losing four fingers on one hand. Other injuries covered in this range can be:
In addition to these benefits, a policy may also provide specific cover for "non-Medicare expenses"
Note: These percentages are given as a general guide. For payout details in regards to your policy, make sure you consult the product disclosure statement (PDS) of your policy.
These are costs that cannot be claimed through Medicare. Medicare is specifically designed to cover only essential treatments and costs, but these might not be enough for you to make a full recovery.
For example, a doctor might recommend knee surgery following an accident to prevent you from having a limp, but it might not be necessary. This could qualify as elective surgery, and might not be covered by Medicare. Even if it is, there could be a long waiting list until you can get the treatments done in a public hospital.
Some of the specific non-Medicare expense cover that athletes may benefit from can include:
Generally, you will need to have been referred to a specialist by a medical practitioner in order to claim those treatment costs, and any medical expenses claimed will usually need to have been at the recommendation of a registered practitioner.
When looking at sports personal accident insurance cover, it's worth comparing policies by both price and cover. Things to look out for include:
Your prices may include both premiums and an excess. The excess, any applicable waiting periods and policy exclusions can all have a major impact on price. Other factors determining your specific premiums can include:
A range of policy exclusions may apply. Sometimes these can be very specific, such as not covering heart attacks after the age of 35, while others can be more general and commonly found. Some of the more common exclusions can be:
In some other specific instances, you may not be able to claim benefits. If another individual or organisation is liable for the costs and you agree not to seek compensation, your insurer may deny claims.
For example, if you are badly injured by another athlete while competing, to the extent that they are legally liable for your injuries, you may be required to seek compensation in order to claim benefits under this type of policy. The benefits that may be payable can also be limited or reduced by other factors, depending on the benefit. For example, income replacement benefits will typically:
Many policies might not cover you for taking part in or training for a professional sport, defined as where the insured derives the majority of their income from that sport. For example, a professional football player or coach would not be covered for injuries relating to football, but would still be covered for other sports. Here, you might need a specialised professionals policy.
life insurance policy, blending a range of cover types together including trauma insurance, life insurance, personal accident cover, income protection and disability benefits.
Generally, mainstream insurance providers will hesitate to insure athletes as a result of the high-risk nature of their occupation. These specialist insurers can offer similar cover, even for pro players. Many will also offer peripheral financial services, such as budget planning and investment management to help players manage finances wisely.
If you live an active life, whether professionally or as an amateur player, a sports personal accident policy may deliver an important level of protection, especially if your existing life insurance won't cover you while playing sports. With this sort of cover, you can go all out on the field, in the surf or almost anywhere else with peace of mind.
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If you're self-employed, then you should consider accident and sickness insurance. It can protect you in the event that a serious injury prevents you from working.
