Report: Florida State paying for QB Winston's loss-of-value insurance policy

Published Aug. 5, 2014 9:13 a.m. ET

foxsports

Florida State is helping Jameis Winston pay for his reported $10 million disability and loss-of-value insurance policy, according to ESPN.

A university spokesman confirmed to ESPN that it is paying for the Heisman Trophy winner's loss-of-value policy using the school's Student Assistant Fund.

The spokesman did not give an exact amount on the payment, but Tomahawk Nation -- which initially reported on the news -- said the university will pay a $55,000-60,000 premium.

It was reported earlier that the policy is split between a permanent disability policy and a loss-of-value policy, of which he could collect a percentage if he fell in the draft. Winston's dad indicated in an interview earlier this year that the player intended to complete his education before heading to the NFL.

Earlier this year, FOX Sports 1 College Football Insider Bruce Feldman reported that Texas A&M used the fund to pay for the policy of offensive lineman Cedric Ogbuehi, which is allowed by the NCAA.