Life beyond the finish line

JAMAICAN ATHLETES are unstoppable. Throughout the years we have seen where many of our home-grown athletes, from Merlene Ottey to Usain Bolt, enjoy long and successful careers. However, the reality is that most athletes’ careers are oftentimes cut short due to injuries.

According to a study titled ‘Hamstring Muscle Injuries and Hamstring Specific Training in Elite Athletics (Track and Field) Athletes’, injuries are a significant concern for elite sprinting athletes. The research, which examined 68 elite sprinters, found that the lifetime prevalence of injury among these athletes was a staggering 95.6 per cent. Additionally, the study reported a one-year injury prevalence of 61.8 per cent, highlighting the constant risk of injury faced by athletes at the highest level of competition.

According to Christopher Vendryes, head, individual line at NCB Insurance Agency (NCBIA) and Fund Managers Limited, having tailored insurance solutions that provides a financial safety net can help athletes focus on their training and performance with peace of mind.

If you or someone you know has their eyes on gold, here are some things to consider in pursuit of athletic excellence.

HEALTH INSURANCE IS YOUR FIRST LINE OF DEFENCE

Injuries can occur at any moment, potentially affecting training schedules. Comprehensive health insurance coverage is vital for managing medical expenses, from routine check-ups to emergency surgeries. Having this protection ensures that you can focus on your recovery without financial strain, allowing you to get back to training as soon as possible.

SAFEGUARD YOUR INCOME WITH DISABILITY INSURANCE

Disability insurance ensures that you have a steady income during recovery periods, allowing you to focus on healing and returning to your sport. This coverage is essential for maintaining your lifestyle and supporting your family during challenging times.

USE LIFE INSURANCE TO SECURE YOUR LOVED ONES’ FUTURE

Life insurance is a crucial component of any financial plan, especially for athletes with dependents. In the event of an unexpected passing, life insurance provides financial security for your loved ones, covering expenses such as mortgage, education, and daily living costs.

“Athletic careers are often dynamic and fulfilling, making retirement planning essential for ensuring long-term financial stability. One of NCB Insurance Agency’s and Fund Managers Limited’s (NCBIA) standout products is the SMART Retirement Plan. This plan offers significant benefits, including tax-free investment returns and a guaranteed lifetime income. With investment options such as the SMART Balanced Fund and the SMART High Yielding Fund, athletes can build a diverse portfolio that supports their long-term goals,” Vendryes said.

Vendryes is a seasoned insurance professional with a passion for delivering tailored insurance solutions to clients. With a commitment to safeguarding the financial well-being of individuals and their families, he leads a dynamic team in providing comprehensive coverage, exceptional customer service, and peace of mind.

Taking control of your financial future, he said, means being proactive about your insurance needs. Empowering athletes (and all Jamaicans) with the knowledge and tools to make informed decisions about their financial well-being is important.

Here are some additional quick tips for effective financial management:

• As your career progresses, your insurance needs may change. Regularly reviewing your policies to ensure that you remain adequately protected.

• Professional advice can help tailor your financial plan to your unique circumstances. Advisors at NCBIA are always available to provide expert guidance.

• In addition to insurance, maintaining an emergency fund can provide financial stability during unexpected events.

“With the right support, even the most formidable setback can be overcome, allowing you to focus on chasing your dreams. Your moment is now, so take action to safeguard your success,” Vendryes said.