Even though it’s rarely reported, a common tactic NFL teams take with some of their most valuable players includes taking out insurance policies on them in case of injury. There’s been no bigger loss this season than when New York Jets QB Aaron Rodgers tore his Achilles just four plays into the regular season.
But the Jets didn’t protect themselves against the chance of the 39-year-old getting hurt despite being offered several different policy options, according to Sportico.
The decision not to buy a Rodgers injury insurance policy has potentially cost the Jets over $20 million. Had they purchased the policy, they would have been able to recoup a significant portion of the four-time NFL MVP’s salary for the 2023 season.
These policies, known as temporary total disability policies, have varying purchase prices. Yet, Sportico’s sources indicate the premiums the Jets were considering ranged anywhere from $1 million to $4 million, with the better options offering as much as 60 percent of the $37 million Rodgers was guaranteed this season.
The Jets signed Rodgers to a three-year, $112 million contract extension, $75 million of which was fully guaranteed after acquiring the Super Bowl XLV MVP.
Sportico’s research indicates that nearly half or one-third of the NFL’s 32 franchises purchase some form of insurance for at least one of their players each season. Yet, for whatever reason, the Jets decided to gamble with the most important piece on the roster.
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