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Report: Florida State plans to pay for Jameis Winston's draft insurance

Photo: Stephen Dunn/Getty Images

In June, it was reported that Florida State quarterback Jameis Winston had taken out a "loss of value" insurance policy worth $8-10 million. Florida State's athletic department plans to pay for Winston's estimated $55,000 to $60,000 premium for the insurance, reports SB Nation's Tomahawk Nation

The insurance covers Winston if his draft stock falls due to injury or illness, and is based on the assumption that the Heisman Trophy winner will be selected in the top 10 of the NFL draft.

It's the second known time a school will pay for a player's insurance premium. As detailed by FOX Sports' Bruce Feldman, Texas A&M found that NCAA rules allow a school to help pay for a premium out of its Student Assistance Fund and used that knowledge to convince offensive tackle Cedric Ogbuehi to bypass the 2014 draft and return to the Aggies for his senior season. 

Student Assistance Funds are limited, and are traditionally used to cover matters like post-eligibility financial aid or an emergency trip home for a player.

More: Florida State, Alabama betting favorites to win national title

Winston's father has previously said that his son plans to spend two more seasons at Florida State. 

Last season, Winston threw for 4,057 yards and 40 touchdowns in leading the Seminoles to the BCS National Championship. 

Jameis Winston: "People need to respect the ACC more"

Florida State quarterback Jameis Winston talks with the media at 2014 ACC Kickoff about the upcoming season.

- Molly Geary

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