As Ravens quarterback Lamar Jackson enters the fifth and final year of his rookie contract, with $23 million in guaranteed money and no guarantees beyond that, he assumes the risk of an injury that would keep the Ravens out of action. to apply the franchise label. to Jackson in 2023 — and that would make it virtually impossible for him to get a market-level deal in free agency.
So, like many players have done, Jackson would be well advised to have insurance. We don’t know if he does.
There are many types of policies and protections. None are cheap, and some players have had real difficulty when it comes to cashing out.
Without an agent to guide Jackson through the process of finding suitable coverage and selecting the right policy, he will have to make the decision on his own.
He may decide that it is too expensive. He may decide that the policy has too many loopholes and exclusions. He can just decide to roll the dice and hope for the best.
Whatever he chooses to do is yet another situation in which he must understand the various options and make an informed and reasoned decision. For his own good, I hope he did.
And, yes, there’s a chance that even a serious injury won’t derail his earning potential. Two years ago, the Cowboys quarterback Dak Prescott broke his ankle and he still got a big Cowboys contract. (Dak nevertheless had an insurance policy.)
Of course, Jackson could possibly have a massive deal with the Ravens right now, assuming the deal brings in over $100 million in full signing guarantees, with possibly a whole lot more in injury guarantees. This would render disability insurance useless.
Without a long-term agreement, a disability policy is crucial. For Lamar’s sake, I hope he has one.