Jovan Belcher likely beneficiary, his daughter Zoey, will possibly receive the beneficiary payout based on a collective bargaining agreement signed last year, August 2011.
The way the agreement is written the estate or the guardian responsible for Zoey will receive $108,000 annually over the next four years, $48,000 in the fifth year and then $52,000 each year until age 18. She’ll continue to receive that amount until age 23 if she attends college. It comes out to more than $1.2M dollars collectively over the years.
Whomever decides to raise this orphaned child may hit the lottery, but I’m sure it will come at a cost, because it might be an uphill battle to get the payout for this policy, as it involves a suicide which commonly voids the agreement. Also, depending on the character of the guardian it may be possible that Zoey will be lucky to see one cent of the monies paid out over the years.
It’s a sad time and unfortunately money can bring out the vultures. It could get messy, but let’s hope the right person is given guardianship over little three-month old Zoey.