Keith Lerner of Total Planning: At the Cutting Edge of the College Sports Disability Market - KALB-TV News Channel 5 & CBS 2

Keith Lerner of Total Planning: At the Cutting Edge of the College Sports Disability Market

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SOURCE Total Planning Sports Services

GAINESVILLE, Fla., Feb. 5, 2014 /PRNewswire/ -- Keith Lerner is maintaining the value of college athletes in a way that has rarely been done before.

Lerner, a Chartered Life Underwriter, Chartered Financial Consultant and owner of Total Planning Sports Services, signs college athletes to insurance policies, like loss-of-value insurance. Lerner has been writing policies for more than 25 years for student athletes who suffer career-ending injuries. These loss-of-value riders are another aspect of that and have become increasingly popular.

Loss-of-value riders provide compensation to athletes who are injured and lose part of their draft-signing bonus. An example is when injuries cause a player to be picked in the second or third round of the NFL draft as opposed to the first round. The loss-of-value insurance pays the player a portion of what was lost in their signing bonus.

One of Lerner's clients, a football player at a top-20-ranked school, purchased loss-of-value insurance after being encouraged by Lerner. While this player was fortunate enough to not need it, this insurance would have protected him had something happened. He has now finished his college career and is expected to be drafted high in the first round of the draft.

"This player had a great college career and is now ready for the next level," said Lerner. "He was fortunate that he never had to use it, but he was financially protected in case of injury."

While loss-of-value insurance has existed for a while, Total Planning is one of the few companies to take full advantage of it, and he encourages many of his clients to consider it.

With current medical technology, there are fewer cases of career-ending injuries. Players can even bounce back from a torn ACL quicker and sometimes stronger, Lerner said. The prevalence of non-career ending injuries and their impact on professional careers is what makes loss-of-value insurance so important.

Lerner offers insurance policies for college and professional players in football, baseball and basketball. But, the majority of his clients are college football and basketball players. He is one of the largest producers of this type of insurance in the country.

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