Philip Rivers Better Ramp Up His Life Insurance!!!

Philip Rivers Better Ramp Up His Life Insurance!!!

By Marnina Delahanty

  Hey, Philip Rivers!  If you’re gonna trash-talk 300 pound human cannonballs, you’d best line up a good, solid hunk of life insurance!   We sampled his relentless banter firsthand when the L.A. Chargers trounced the Jacksonville Jaguars.  Fully mic’d as Jags’ Yannick Ngakoue helped him up off the turf, Rivers whipped up a bragardly storm. Luckily, Ngakoue and the ref maintained their sense of humor.      But will Rivers always get off scot free?  Since you just never know, we at Asurea realized this warrants a thorough life insurance workup.  So, here you go!   First, how much coverage does one NFL quarterback need?  Well, to figure that out we determined how much he makes in a year, how many people depend on him for what length of time, and, after he passes away, how many years will he remain dead.  (Keeping you on your toes, there…)  

2019 Base Salary:     

$11 M (post-taxes = $5.47 M)  

Dependants:  

Wives:                  1 Baby Mamas:       0 Children:            + 9 (Jeez Louise!  NINE kids!?!) Total:                   10   

Length of Time Support Needed: 

10 Years  We reached this assuming all his kids are college-bound, and we cut them off after 4 years of college.  We factored in they range in age from 16 to under a year old.  BUT, not even a talent like Rivers’ lasts forever. Even with the long life we hope he lives, he doesn’t need base salary income replacement beyond this. We generously assumed he has 10 years left in the NFL, but then waived post-career endorsement deals altogether.  Hence, 10 years.   At Asurea, we realize families aren’t looking to strike it rich in the event of the bread-winner's death.  Rather, our objective is to relieve their financial strain so they can grieve their loss, take care of one other, and carry on without threat of financial ruin.  So, TOTAL income replacement is excessive.  Additionally, their financial needs will peak as the highest number of kids reach college, and ebb as they age out.     Right about then, we also assumed that widow Tiffany might want to downsize their primary residence, which likely will be just about paid off, eliminating her future housing expenses, providing for her dating life, and what-not.  She might also want to develop her career as the nest empties, thereby reducing the dependance this policy addresses. Lastly, we assumed Papa Rivers would want to give his kids a monetary leg up to, say, buy their first home, start a business, or, perhaps, hookers and blow.  (Whoa, Nellie!!! Wrong dad!!!)   Key to our calculations is the vital advantage to life insurance death benefits - they’re entirely TAX-FREE!    (Reread that - it’s a massive advantage!) Being in the highest marginal tax rate both federally & in California, he now pays 50.3% in income taxes, which puts his take-home base pay at a meager $5.47 M.     Ultimately, we recommend that Phillip Rivers secures a fully underwritten 10-year term life insurance policy of $54.67 Million.     Call Asurea today to secure your family’s future!   (And, Rivers, we just may be available to help you out, too.)  916-888-1807 or 800-689-5490 x121

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