Podcast Summary: "Don't Let an Injury Ruin Their Financial Future"

Podcast: Most Valuable Agent with Matt Hannaford
Host: Matt Hannaford
Guest: David Brookbank, Co-Founder of Income Protection Consultants
Release Date: January 21, 2026

Overview

In this episode, Matt Hannaford hosts David Brookbank, an expert consultant on disability insurance for athletes and advisory board member in sports law education. Together, they provide an in-depth guide to understanding, choosing, and optimizing disability insurance for amateur and professional baseball players, with special focus for players, parents, college coaches, and agents. The conversation covers the evolving landscape of insurance in college and pro sports, practical steps for acquiring policies, pitfalls to avoid, and how families can make informed decisions to safeguard a player’s future earnings against injury or illness.

Key Discussion Points & Insights

1. David Brookbank’s Unique Perspective (00:12 – 03:23)

• Background & Credentials:
  David began in insurance 33 years ago, transitioned to sports law/contract consulting, serves as an adjunct professor in sports law, and collaborates with top-level sports organizations.
• Quote:
  “We actually just formed a consulting company that breaks down and analyzes disability policies on all different levels... high school, collegiate athletes, pro athletes, and we even do it for the white collar market as well.” — David [00:44]

2. The Foundation of Disability Insurance in Sports (03:23 – 06:33)

• Why Disability Insurance Exists:
  It began in the 1990s with the NCAA’s Elite Student Athlete Disability Program—initially, a “future earnings” safety net for athletes with pro potential.
• Key Insight:
  Typical policies now offer 24/7 coverage and protect against both injury and illness, not just injuries “on the field,” dispelling a common misconception.
• Quote:
  “Most people have this misconception of disability being only covering somebody while they’re playing or participating in their sport, but it’s not.” — David [05:45]

3. Types of Policies: More Than Just ‘Loss of Value’ (06:33 – 10:59)

• Loss of Value Insurance:
  Once prevalent for amateurs, now rare—often misunderstood by families.
• Other Policy Types:
  • Permanent and Total Disability (PTD): Pays if a career-ending injury or illness prevents all future play.
  • Critical Injury (CI): Pays for specific injuries (e.g., UCL tear, Tommy John surgery), regardless of draft position.
  • Temporary Total Disability (TTD): Pays if the athlete can’t play for a defined period due to injury, even if not named on the CI list.
• Quote:
  “Disability in its purest form is... if somebody suffers an accident that causes bodily injury... and they can never play their sport again. That’s the catastrophic component.” — David [04:52]

4. Understanding Policy Language: Details Matter (11:54 – 15:15)

• Illustrative Differences:
  The fine print in coverage for, say, a Tommy John surgery, can make a dramatic difference (e.g., “complete tear” vs. “high grade tear,” surgery timeline requirements, season-missing clauses).
• Key Point:
  The actual contract language defines what does and doesn’t trigger a payout.
• Quote:
  “All contracts are not created equal ... you really need to know what the contract says inside of that before you pull the trigger on it.” — David [15:08]

5. Consulting Process & University Partnerships (15:15 – 19:59)

• Rise of NIL & Insurance:
  NIL (Name, Image, Likeness) deals have increased the frequency and complexity of insurance decisions for athletes and schools.
• Role of Consultants:
  Universities often engage consultants to ensure student-athletes are educated and protected without steering them only to specific brokers.
• Quote:
  “Disability is one of those things... used to be able to attract and retain those athletes into those programs.” — David [18:54]

6. Step-by-Step: How a Policy Is Selected & Implemented (20:43 – 24:36)

• The Educational Workshop Approach:
  Consultants lay out all available offers, educate the athlete/family on provisions, then the athlete selects based on understanding—not just price.
• After Selection:
  Insurer underwrites (possibly excluding prior injury sites), medical records are crucial, and renewal is timed to NCAA/NIL contract
• Claim Statistics:
  Of 400-500 athletes David consults with yearly, about four have career-ending claims, 25-35 claim critical or temporary injury payouts.

7. Negotiability of Terms & Leverage Factors (24:36 – 26:40)

• Negotiation Power:
  Larger policyholders (e.g., MLB players paying $2 million premiums) can negotiate contract language more than amateur clients can.
• Quote:
  “The bigger the case, the more leverage you have.” — David [25:23]

8. Claims: What Happens After an Injury (27:01 – 29:46)

• Immediate Process:
  Open communication and review of the contract’s precise terms, notification to insurer, understanding tax implications, step-by-step claims support.
• Quote:
  “We want to make sure... when that individual files the claim, first of all, we’re going to have a meeting... and set expectations.” — David [27:14]

9. Typical Premium Costs (30:30 – 31:35)

• Cost Range:
  • College pitcher PTD: ~$7,500 per $1 million coverage
  • Critical Injury: $15K–$18K per $300K benefit; $1 million policy could exceed $80K–$90K
• Quote:
  “Pitchers are the most expensive player in all of athletics... permanent total disability for a collegiate pitcher is going to run somewhere around $7,500 per million of coverage.” — David [30:34]

10. Mindset & Advice for Families (33:33 – 35:55)

• Key Framing:
  Ask: If my son can never play again, how much financial cushion would we want to begin the next chapter?
• Disability = Income Replacement:
  Stories of payouts funding new successful careers or businesses; determining a sufficient, not excessive, coverage amount.

11. Why ‘Loss of Value’ Policies Faded From the Amateur Space (35:55 – 40:14)

• Main Reasons:
  • Litigious ambiguity: “Sole and direct reason” for falling in draft was subjective and tough to prove.
  • “Critical Injury” add-ons now provide clearer triggers/payouts for common specific injuries.
• Quote:
  “Litigation... because the policy wording was so subjective that it was very hard to collect.” — David [36:12]

12. Policy Application Pitfalls: Honesty is Critical (43:19 – 44:23)

• Material Misrepresentation = Insurance Fraud:
  Incomplete/inaccurate disclosures can result in felony charges; always submit full athletic training records.
• Quote:
  “If you provide a material misrepresentation on an insurance application, that is considered insurance fraud... which carries significant penalties as well as potential prison time.” — David [41:25]

13. Designing the ‘Perfect Policy’ (44:23 – 48:00)

• Checklist Approach:
  • Decide on a sufficient PTD payout for ‘career-ending’ risk.
  • Add Critical Injury cover (e.g., UCL tears) if available.
  • Consult on what portion, if any, the school will subsidize.

Notable Quotes & Memorable Moments

• On Common Mistakes:
  “Single biggest mistake families make... listening to one broker or the individual who's going to make money on the policy, who's selling you a policy, rather than listening to an independent voice.” — David [50:48]

• On Coverage Prioritization:
  “If a family can only afford one type of coverage, what should they prioritize?... Permanent total disability. Because if I walk out in front, if I'm that athlete and I walk out in front of a car and I'm hit and I can never play my sport again, I would rather... collect $5 million.” — David [51:12]

• On the Right Mindset:
  “It’s a journey and it's a relationship... not a transaction. That’s the thing that I would want them to understand.” — David [52:09]

• On Preparing for the Worst:
  “I think the key is to really understand on disability what it's for. It protects that occupation. If you can never play that sport again, how can we protect it in such a way to give you a cushion to start your next level.” — David [34:35]

Timestamps for Key Segments

• Introduction & Guest Background: 00:12 – 03:23
• Why Disability Insurance in Sports: 04:41 – 06:33
• Types of Insurance Policies: 07:21 – 10:59
• Importance of Policy Wording: 11:54 – 15:15
• Consultant’s Role & Universities: 15:15 – 19:59
• Policy Selection Process: 20:43 – 24:36
• Negotiability of Terms: 25:22 – 26:40
• Filing a Claim: 27:01 – 29:46
• Premium Cost Details: 30:30 – 31:35
• Advice on Mindset: 33:33 – 35:55
• Loss of Value Policies: 35:55 – 40:14
• Application Pitfalls & Honesty: 43:19 – 44:23
• Designing the Right Policy: 44:23 – 48:00
• Rapid-Fire Advice: 50:48 – 53:07

Actionable Takeaways

• Educate Yourself First: Don’t just buy the first policy you’re offered—understand the actual contract and consult with an independent adviser.
• Prioritize Catastrophic Coverage: If budget is limited, prioritize permanent total disability coverage.
• Be 100% Honest: Disclose all injuries/medical info; insurance fraud is a real risk for incomplete disclosure.
• Critical Injury Riders Add Value: For high-risk positions (pitchers), adding CI coverage can provide a meaningful safety net above the basic PTD policy.
• Insurance is a Relationship: Treat it as a journey, not a one-time transaction; revisit coverage at each career stage.

Resources

• Connect with David Brookbank: Through Income Protection Consultants or university contacts
• David’s Upcoming Podcast: The Done and One Podcast—success and cautionary tales from athletes and sports professionals
• Full Episodes: youtube.com/@mostvaluableagent