LONDON, 23 January 2006
Ex-Tottenham Hotspur footballer, Dean Richards, has claimed a record £2 million in compensation for an illness that has ended his career. This is the highest amount ever paid to an individual player in the UK.
Mr Richards, 30, retired from professional football in March 2005 after doctors warned he could potentially suffer a brain haemorrhage if he continued playing.
Fortunately for Mr Richards, he had previously taken out a Personal Accident and Sickness policy, which provided insurance cover for £2 million in the event of accidental death or permanent total disablement (due to accident or illness).
Mr Richards commented: “I appreciate this is a large sum of money and it will secure my family’s financial future. Football has been my life for as long as I can remember, and the pleasure and fulfillment that being a professional footballer gave me has left a huge gap in my life that cannot be replaced – no amount of money can compensate for this loss.
LONDON, 9 January 2007
A pay out to a Barnsley FC footballer with a career-ending injury has, once again, highlighted the necessity for professional footballers to take out personal accident and illness insurance, a trend which has filtered down from the Premiership. League Two defender Tony Vaughan suffered the career ending injury
While on loan to Stockport, Vaughan suffered an inflammatory knee condition (pes anserinus) after simply kicking the ball down the line during an away match to Shrewsbury at Gay Meadow and, ironically, minutes before the end of the match in injury time. Independent medical tests confirmed that he would not be able to play professionally again. Luckily, Vaughan had previously taken out a personal accident and sickness policy, which provided insurance cover in the event of accidental death or permanent total disablement (due to accident or illness). The undisclosed pay out will help to offset his loss of future earnings.
The amount of the claim was a far cry from the record £2 million pay out awarded to ex-Tottenham Hotspur footballer Dean Richards a year ago,when doctors warned he could potentially suffer a brain haemorrhage if he continued playing. However, Vaughan’s case sends out a strong warning to players in all leagues about the dangers of suddenly finding themselves without an income and the financial security of their career.
Vaughan commented: “The pay out has given me time to assess the next step, now my career in football has sadly ended. There are still players who are put off by the insurance premiums, but it was well worth the cost – you can’t afford not to have the cover. I’d recommend any player, in any league, to seriously consider how they would financially cope if their career were to suddenly end and think about the benefits of receiving a lump sum payment.”
