It’s that time again. Many students are preparing to head back to college or excited to be out of high school and moving into their next new adventure in life. This time can bring a roller coaster of emotions for both you and your child and it may be a hectic time. Many things to do and remember to pack. This is also a perfect time to review your insurance needs.
One of my previous blog post on “How often should you have a policy check up done?” It is recommended to review your policy when a significant life event occurs. I think a student child going to college falls into this category. Does your policy cover the full tuition for the amount of anticipated years needed for your student to finish college? I recently helped a man who was concerned about his daughter going off to college as he was semi-retiring. He had great life insurance benefits with his employer he was in the process of retiring from… so no more life insurance coverage when you no longer work with the company. (You may want to read: 7things you need to know about employer sponsored life insurance.) Since his circumstances were changing and he was losing the life insurance he did have … he needed to cover himself during the time that his daughter would be in college. He choose to obtain a five year term life insurance plan.. since his daughter would be done with school in less then the five year time frame but he knew her education would be covered if he prematurely passed away. I applaud this smart father for making sure his family is taken care of.
You can do the same… contact your financial advisor or Life Insurance Agent today! Don’t hesitate on something that is so very important!
Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.
Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
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