It's hardly unusual for athletes to have such policies in place, but with all the attention on Wilson and the risk he faces playing out the last year of his contract, worth $1.5 million in 2015, the quarterback has taken steps to safeguard his future.
Wilson's insurance policy might be an indication that the quarterback is skeptical he will be able to agree to a long-term extension with the Seahawks before the start of the season.
Earlier this month, Wilson said he'd be comfortable playing out the final year of his contract if it comes to that.
"Yeah, I'm prepared for that 100 percent if that's the case,'' he said. "I want to be here for a long time. I just have to get ready to play. I love the game and I love being out here with these guys. Ultimately, I just take it one day at a time and see where it takes me."
If Wilson and the Seahawks do not reach an agreement before the end of the 2015 season, the team can place a franchise tag on Wilson that likely would cost between $21 million and $24 million for the 2016 season.
ESPN.com Seahawks reporter Terry Blount contributed to this report.