We Are NIL Collective Secures PTD Insurance for Four PSU Athletes

[We Are NIL]

We Are NIL Collective, which launched in September, became the first NIL collective to provide permanent total disability (PTD) insurance for a student-athlete, offensive tackle Caedan Wallace. Since then, we have secured PTD insurance for Brenton Strange, Adisa Isaac, and Dvon Ellies.

#WeAre committed to providing this coverage to eligible members of the Penn State football team.

Sports Business Journal says our commitment to provide PTD insurance for eligible student-athletes “could potentially break new ground in college sports” because the NCAA has “previously limited the amount of insurance a school can offer a student-athlete.” https://sporttechie.com/nil-insurance-penn-state-football#

Front Office Sports says our PTD insurance commitment “is potentially monumental, given the previous limitations on insurance offerings for college athletes.” https://frontofficesports.com/penn-state-nil-insurance/

OutKick (owned by Fox Sports) says our PTD insurance commitment has made the collective “groundbreakers” in the industry. https://www.outkick.com/penn-state-...y-insurance-caeden-wallace-michael-krentzman/

We Are NIL is Penn State’s only locally owned NIL collective. Born and raised in State College, Founder Michael Krentzman is a local attorney and operates a family business.

We Are NIL Collective empowers Penn State football student-athletes to achieve lifelong financial and professional success by providing athletes and their families with life-changing resources that help them compete at the highest level on and off the field.

With Penn State fans’ help, We Are NIL will make Penn State football a national leader in NIL.

Become a We Are NIL member today:

Tiers & Benefits | We Are...

wearenilcollective.com

 

[OuiRPSU]

Self-promotion much? I wonder how the AKB feels about this.

 

[BobPSU92]

“#WeAre committed to providing this coverage to eligible members of the Penn State football team.”

Only for football players? What about other Penn State student-athletes?

 

[Ceasar]

I am curious what makes a player "eligible", or not eligible, for the insurance policy?

 

[BW Lion]

I wonder how many more interceptions this will cause distracted Clifford to throw vs OSU.

This is why I’m so negative on PSU Football.

Franklin is essentially allowing the players to “run the show”. An effective Head Coach doesn’t allow this.

Once Clifford announced his commercial NIL side gig, his scholarship should have been revoked and been told to move on

 

[BobPSU92]

I wonder how many more interceptions this will cause distracted Clifford to throw vs OSU.

This is why I’m so negative on PSU Football.

Franklin is essentially allowing the players to “run the show”. An effective Head Coach doesn’t allow this.

Once Clifford announced his commercial NIL side gig, his scholarship should have been revoked and been told to move on

Yeah, because NIL isn’t happening anywhere else.

 

[BW Lion]

Yeah, because NIL isn’t happening anywhere else.

Jimbo agrees.

 

[BobPSU92]

I am curious what makes a player "eligible", or not eligible, for the insurance policy?

I thought it meant the usual eligibility factors (e.g., academics). Of course, I am usually wrong about everything.

 

[BW Lion]

We Are NIL Collective, which launched in September, became the first NIL collective to provide permanent total disability (PTD) insurance for a student-athlete, offensive tackle Caedan Wallace. Since then, we have secured PTD insurance for Brenton Strange, Adisa Isaac, and Dvon Ellies.

#WeAre committed to providing this coverage to eligible members of the Penn State football team.

Sports Business Journal says our commitment to provide PTD insurance for eligible student-athletes “could potentially break new ground in college sports” because the NCAA has “previously limited the amount of insurance a school can offer a student-athlete.” https://sporttechie.com/nil-insurance-penn-state-football#

Front Office Sports says our PTD insurance commitment “is potentially monumental, given the previous limitations on insurance offerings for college athletes.” https://frontofficesports.com/penn-state-nil-insurance/

OutKick (owned by Fox Sports) says our PTD insurance commitment has made the collective “groundbreakers” in the industry. https://www.outkick.com/penn-state-...y-insurance-caeden-wallace-michael-krentzman/

We Are NIL is Penn State’s only locally owned NIL collective. Born and raised in State College, Founder Michael Krentzman is a local attorney and operates a family business.

We Are NIL Collective empowers Penn State football student-athletes to achieve lifelong financial and professional success by providing athletes and their families with life-changing resources that help them compete at the highest level on and off the field.

With Penn State fans’ help, We Are NIL will make Penn State football a national leader in NIL.

Become a We Are NIL member today:

Tiers & Benefits | We Are...

wearenilcollective.com

Oh Michael,

Business must be really desperate when a flunky Wisconsin Badger and Temple Owl graduate has to …

https://www.linkedin.com/in/michael-krentzman-111bb57

…and as I suspected, you’re obese

About | We Are...

wearenilcollective.com

 

[GrimReaper]

“#WeAre committed to providing this coverage to eligible members of the Penn State football team.”

Only for football players? What about other Penn State student-athletes?

I am curious what makes a player "eligible", or not eligible, for the insurance policy?

It's a niche product designed to replace the loss of future income due to a career ending injury. To be "eligible" an athlete has to be deemed to have a demonstrable future income stream from a sport, not necessarily limited to football. Insurance companies that write these sorts of policies have teams that do these calculations. As the payouts are in lump sum, the NPV of future income becomes the amount insured, adjusted over time as the athlete remains able.

These policies are expensive and fewer than 2% ever payout anything. As a potentially disabled athlete, the process of trying to collect is probably worse than dealing with the injury and loss of a career.

 

[BobPSU92]

It's a niche product designed to replace the loss of future income due to a career ending injury. To be "eligible" an athlete has to be deemed to have a demonstrable future income stream from a sport, not necessarily limited to football. Insurance companies that write these sorts of policies have teams that do these calculations. As the payouts are in lump sum, the NPV of future income becomes the amount insured, adjusted over time as the athlete remains able.

These policies are expensive and fewer than 2% ever payout anything. As a potentially disabled athlete, the process of trying to collect is probably worse than dealing with the injury and loss of a career.

Thanks. I understand your points but wasn’t sure what they meant by “eligible”.

So, in principle, this NIL collective could work with a few other PSU sports programs where there is potential for a lucrative professional athletic career. Maybe they are simply starting with football? Football is the program that develops the most professional athletes at PSU, but there is the potential in other sports.

 

[Doctori66]

We Are NIL Collective, which launched in September, became the first NIL collective to provide permanent total disability (PTD) insurance for a student-athlete, offensive tackle Caedan Wallace. Since then, we have secured PTD insurance for Brenton Strange, Adisa Isaac, and Dvon Ellies.

#WeAre committed to providing this coverage to eligible members of the Penn State football team.

Sports Business Journal says our commitment to provide PTD insurance for eligible student-athletes “could potentially break new ground in college sports” because the NCAA has “previously limited the amount of insurance a school can offer a student-athlete.” https://sporttechie.com/nil-insurance-penn-state-football#

Front Office Sports says our PTD insurance commitment “is potentially monumental, given the previous limitations on insurance offerings for college athletes.” https://frontofficesports.com/penn-state-nil-insurance/

OutKick (owned by Fox Sports) says our PTD insurance commitment has made the collective “groundbreakers” in the industry. https://www.outkick.com/penn-state-...y-insurance-caeden-wallace-michael-krentzman/

We Are NIL is Penn State’s only locally owned NIL collective. Born and raised in State College, Founder Michael Krentzman is a local attorney and operates a family business.

We Are NIL Collective empowers Penn State football student-athletes to achieve lifelong financial and professional success by providing athletes and their families with life-changing resources that help them compete at the highest level on and off the field.

With Penn State fans’ help, We Are NIL will make Penn State football a national leader in NIL.

Become a We Are NIL member today:

Tiers & Benefits | We Are...

wearenilcollective.com

I can’t tell you how proud I am (WE ARE!) Of you and your brother and what you’re doing for PennState’s players and future players! Keep it up and one day I expect to see you in the government leader ship position! Love you guys.

 

[leinbacker]

Maybe they can wear their sponsor's name/logo on their jersey like professional soccer players

 

[Woodpecker]

Self-promotion much?

Isn't that the definition of NIL?

 

[OuiRPSU]

Isn't that the definition of NIL?

No, I don’t think so. But maybe if you’re paying yourself to promote yourself it is.

 

[BW Lion]

I can’t tell you how proud I am (WE ARE!) Of you and your brother and what you’re doing for PennState’s players and future players! Keep it up and one day I expect to see you in the government leader ship position! Love you guys.

You were a joke dating back to the Sandusky scandal.

I’ll stop now before I type something I’ll regret.

 

[BobPSU92]

No, I don’t think so. But maybe if you’re paying yourself to promote yourself it is.