UFC fighters aren't the only ones with accident insurance these days.
Six months after the UFC parent company announced a program to cover athletes outside the cage, a Tennessee-based insurance company offers a plan that costs a little over $20 a month.
Fighters are not only covered out-of-competition but are eligible to receive compensation for injuries suffered during fights and get a $100,000 life insurance policy, according to Jeremy Augusta, CEO of Combat Sports Insurance.
Augusta, an insurance industry veteran who trains in MMA, started offering the plan one year ago after training partners kept asking him for quotes on health insurance. Most couldn’t afford it.
"When you're a pro getting $200 to show and $200 to win, you can’t pay a $500 (a month) premium," he today told MMAjunkie.com (
www.mmajunkie.com).Much like Zuffa, Augusta battled skepticism when he approached several insurance companies about the possibility of coverage for professional MMA fighters.
"In their head, they were thinking huge guys punching each other and kicked in the head and arms broke," he said. "A couple politely entertained the deal, but none of them were all about it."
Those injuries can and do happen in the gym. They're frequently devastating to the fighter, who not only loses a payday but foots the bill for treatment if uninsured. When compared to the health of the general population, however, there's often no comparison in who's taking better care of themselves.
"They're healthier than 80 percent of the people out there, but because of their hobby and their profession, their premiums are through the roof," Augusta said.
When Augusta chanced upon a pair of employees that worked for a major underwriter at an MMA show, he found a sympathetic ear. He declined to name the company but said it has a well-established accident-insurance policy for non-athletes.
In July, Combat Sports Insurance partnered with upstart MMA promotion Imperial Fighting to cover its fighters. Since then, several promoters have spread word of the plan.
The UFC covers fighters up to $50,000 yearly for costs arising from an out-of-competition accident and carries a $1,500 deductible. Augusta's plan has no yearly maximum and no deductible.
Fighters receive automatic payouts depending on the type of injury, whether it occurs on fight night or between. The payouts are on top of the event insurance required of promoters by the state that range between $50,000 and $100,000 per fighter. It's often possible for a fighter to make more money losing than winning (although probably not advisable).
Of course, all medical claims need to be verified by a doctor or a hospital. But through the wonder of insurance coding, the plan presents some funky fiscal logic.
"The guy who knocked you out is going to get $400 bucks, and you're going to get damn near $1,000," Augusta said.
However, the underwriter's massive client base makes it a win-win situation for the insured and the insurer. Augusta estimated 15 fighters used the policy after a recent event.
"[The insurance company] thinks it's great because the more people that utilize it, the more people who are going to come on board with it," he said. "If you've got 30 guys paying a premium, and once a month one of them has a claim, they're still making profit."
And for fighters without a safety net, it can be a saving grace.
"I've gotten more Christmas cards this year than I ever have in my life," Augusta said.
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