Insurance Coverage in the NHL


Insurance Coverage in the NHL

A few weeks ago, I wrote an article explaining some of the special risk insurance options available to professional hockey players. Following that article, I received some questions regarding players’ insurance coverage. Specifically about the coverage through the group-sponsored plan outlined in the CBA. If you’ve read my pension article, you’ll know that I like to take legal CBA jargon and simplify it into plain English. Here’s my attempt regarding insurance.

Life Insurance Coverage

Players have life insurance coverage amounting to $1,000,000 U.S. per player.  This is for all players on an NHL roster at any point during the season. They also have accidental death insurance coverage equaling their salary, with a maximum of $15,000,000 U.S.

  • Note: Life insurance gets paid when you die, no matter what. Whereas accidental death only gets paid if death occurs within a set of parameters outlined in the policy. You can find a more in-depth look at the difference between the two here.

Example: Player earning $2,500,000 per year passes away in a car accident.

The player’s beneficiary would receive a one-time lump sum payment of $1,000,000 U.S. from the life insurance policy. The beneficiary would also receive a one-time lump sum payment of $2,500,000 U.S.(equivalent to players season salary) from the accidental death policy (If dying in a car accident falls under the parameters within the accidental death policy).

Note: The spouse of any player on an NHL roster at any point during the season also has life insurance coverage of $250,000 U.S. and accidental death coverage of $100,000.

Disability Insurance Coverage

Players also have career-ending disability insurance. This will provide a one-time benefit in the event they sustain an injury under the following parameters:


“Disability shall be considered career-ending if the Player is continuously disabled for a period of 12 months and permanently prevented from playing professional hockey.”


The disability benefit looks like this:[/vc_column_text][dt_fancy_image image_id=”7899″ css=”.vc_custom_1638990282907{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1638991908318{padding-bottom: 20px !important;}”]

*For Players with less than forty-one (41) NHL Games played in their career (including games dressed for backup goaltenders) the maximum benefit would be $500,000 U.S.D

*Source – NHL CBA, Article 23, Page 149

[/vc_column_text][vc_column_text css=”.vc_custom_1638993210275{padding-top: 20px !important;padding-bottom: 20px !important;}”]

Serious Disability Benefit

In the event a player experiences a serious disability, they may be entitled to the following benefit:[/vc_column_text][dt_fancy_image image_id=”7903″ width=”600″ css=”.vc_custom_1638991818891{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1638991899932{padding-top: 20px !important;padding-bottom: 20px !important;}”]

*Loss includes loss of use

*Source – NHL CBA, Article 23, Page 150

[/vc_column_text][vc_column_text css=”.vc_custom_1638994316639{padding-top: 20px !important;}”]


The insurance provided through the CBA does provide some good protection for players. However, insurance coverage must be done on a case-by-case basis. For example, a 28-year-old player, earning $5,000,000 per year with a spouse, a few kids, and a home will have different insurance needs than an 18-year-old rookie on an ELC who is single and renting an apartment.

When you start exploring insurance options, consider a few things before agreeing to anything:

  1. Did your advisor or insurance agent conduct a needs analysis for you?
  2. Do you know how much the premiums on the insurance will be?
  3. Do you know what the commission is that the advisor or insurance agent will make from you purchasing the insurance?

Insurance can be very valuable from a “peace of mind” perspective. It can also be a useful tool from an investment perspective as your net worth grows (which I’ll discuss in a future article). The key is to not rush into anything until you feel comfortable or have received advice from someone you trust.[/vc_column_text][vc_column_text css=”.vc_custom_1638991889070{padding-top: 20px !important;padding-bottom: 20px !important;}”]


Adam Henry is a Winnipeg based Financial Advisor with Harbourfront Wealth Management. His practice is tailored towards working with Professional Hockey Players who are looking for investment, cash-flow management, & tax advice. 

Disclaimer: The views expressed are those of Adam Henry, Investment Advisor and not necessarily those of Harbourfront Wealth Management Inc., member of the Canadian Investor Protection Fund, an IIROC Regulated Firm. 

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