Richard Salgado estimates that approximately 75% of prospective customers coaching in advance of the National Football League (NFL) Draft have some type of insurance policy. If you have never ever heard the identify Richard Salgado, there is a excellent reason for that. Salgado of Coastal Advisors is far more frequently identified all through NFL circles as “Big Daddy”, and is the insurance coverage go-to guy for some of the most well-liked gamers in the league. Big Daddy believes that the 75% figure wants to be escalated, but he notes that his sector has come a prolonged way given that he initial commenced promoting insurance coverage in 1994. He estimates that only about 10% of pre-Draft players had been insured when he started pushing insurance policies.
Asked for a explanation why athletes have turn into established to be insured prior to hitting the professional football field, Huge Daddy stated that it is due to more men and women attempting to sell insurance coverage and much more players discovering out about it. However, Large Daddy could not care about his competitors. In the past five many years, he has insured much more than 25 1st round picks such as Chicago Bears guard Kyle Prolonged, New York Jets defensive finish Mo Wilkerson and cost-free agent wide receiver Kenny Britt. Some of his newest consumers are NFL Draft prospects Tre Mason (Auburn) and Brandon Coleman (Rutgers), along with Indiana Pacers guard Lance Stephenson.
FORBES had a possibility to speak to Huge Daddy right after he returned from the NFL Combine in Indianapolis, which is an annual trip that he requires to see existing clientele and meet potential additions to his growing listing of insured athletes. Unlike several of the agents and fiscal planners who touch down in Indianapolis, Huge Daddy only spends a few days close to town, working the area, receiving in front of the agents and chasing people down for premiums.
“I go [to the NFL Mix] for two days and I’m done,” stated Large Daddy. He exudes the self-confidence of a superstar somebody that everyone that he cares about has heard of. ”Everyone understands who Massive Daddy is, but what does Massive Daddy do? I really do not perform for Nike, even even though absolutely everyone thinks I do. I am the most essential important point for an athlete or a coach. When these guys are all playing and coaching they require an agent. When all that ends what do you require an agent for? Insurance guy? You have a family members, you have to shield the family. Have a property? Have to safeguard the property. Have a vehicle? Have to shield that car.”
Not only does Massive Daddy feel that a excellent insurance coverage agent is critical for an athlete, he is convinced that what the players need is Large Daddy on their group. ”Look at my client checklist it speaks for itself,” mentioned Big Daddy to FORBES. ”Who goes on FOX Information ten-15 times a yr and talks about it? Everybody understands I have a title and a Rolodex that can compete against anybody. That’s why I’m now Panerai’s ambassador. I do photograph shoots and wear their watches. They sponsor the Huge Daddy Golf Classic. Delta Airlines has been my sponsor for 3 years. People Google Google me now.”
Massive Daddy does not lack bravado. However, despite his flamboyant and boisterous persona, he has a massive heart and cares about his clientele. The Big Daddy Golf Classic has benefited the Health & Humanitarian Assist Basis and St. Jude Children’s Investigation Hospital St. Jude Children’s Research Hospital. He also says that he is in his discipline simply because players are not obtaining the proper advice, and he wants to alter that. ”You have people who believe they comprehend the insurance enterprise, but they truly do not,” mentioned Large Daddy. ”Oftentimes players purchase into insurance items that are not advantageous for the insured.”
The bottom line is that for NFL-bound players, purchasing an insurance coverage policy is about guarding their futures. Whether that policy is obtained by way of Huge Daddy or an additional insurance coverage agent, the player will have a line of protection in came some thing happens to him even though at training camps or exercise facilities. Roughly 75% of pre-NFL Draft gamers are insured today, but it may not be extended right up until that quantity inches near to one hundred%.
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