The National Hockey League has decided to begin charging premium ratepayers to cover catastrophic injury and death, in a new move to combat the growing epidemic of car crashes.
“We recognize that we have a problem,” NHL spokesman Tom Fitzgerald said.
As a result of the changes, a premium for coverage of catastrophic injuries will rise from $15.80 per week per person, per year, to $25.20 per week for the first $50,000 of income and $33.20 for each additional $50 million of income.
The policyholder will be charged $50 per week in premiums for the next $50 in income, and the policyholder’s spouse or dependent child will also be charged the same amount.
The cost of catastrophic insurance will be $15 per month for each of the first five years of the policy and $30 for each subsequent $50.
Under the new policy, the policy holder will be responsible for all expenses, including medical and funeral expenses, that occur during the first three years of coverage.
The maximum annual premium for the policy is $75 per year.
In addition, the NHL will allow policyholders to choose to waive coverage in the event of death or a catastrophic injury.
Policyholders must pay $15 of any excess coverage they choose to receive, but will not be required to provide any additional coverage to cover the deceased.
The policyholder must also provide the league with an income verification form and the premium for their policy for a year.
If the policy does not have a policyholder, a separate form will be provided.
If you have an injury or death that occurred within the last five years, you may be eligible to claim catastrophic insurance.
Policyholder can choose to purchase a policy at a reduced rate or apply for coverage through the NHL website.
A new policy is available for policyholders who do not have an existing policy.
The minimum payment for coverage is $50 for first $10,000 and $100 for each $10 million of annual income, which will include medical expenses and funeral costs.
The average policyholder cost is $80 for first five and $130 for each successive $10-million increase in annual income.
The policy is currently available through the National Hockey Player’s Association, National Hockey Players Association, NHL Players Association and the NHL Players’ Association.
Fitzgerald said the league plans to work with insurance companies to ensure policies are affordable to policyholders.