Not in full
I did read somewhere that the PFA Insurance covers players for £25k in event of them not being able to play football again after injury, not a massive payout but it would help soften the blow somewhat but obviously nowhere near his wage for the year of course.
Let me find the link...
PFA Accident Fund
Senior PFA officers and the Management Committee are the main decision makers with regards to the PFA Accident Fund.
This fund provides monies to ensure that all Premier League and Football League contracted players are covered for up to £25,000 each under the PFA's Accident and Sickness Insurance Scheme in the event that they suffer a specific injury or illness which results in their permanent total disability to play professional football.
http://www.thepfa.com/thepfa/finance/pfafunds