At least 40 college athletics department are considering taking out life insurance policies on a number of their boosters, according to a report in an educational journal.
The purpose of the policy would be to generate proceeds that would help defray the rising cost of college sports upon the death of the insured, according to a report in the latest issue of The Chronicle of Higher Education, Washington.
The institutions–including 2 each from the Atlantic Coast, the Big 12, and the Southeastern Conferences, as well as 4 from the Pac-10–would follow the lead of Oklahoma State University, which announced in March it had secured a potential total of $280 million for its athletics program by taking out $10 million life policies on 28 of its athletics boosters, according to the Chronicle.
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