Back to School: Are Your Clients Ready for What Lies Ahead? (1)
Published on
September 01, 2020
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As kids head back to school, we’re focused on helping your clients navigate the multitude of college funding options by offering our FREE College Planning Kit for Parents. This kit includes tips and in-depth information on how you can meet multiple financial goals including paying for college and how life insurance fits in.
Did you know?...
- According to NerdWallet.com the average annual cost of college for this school year is projected to be $38,330 at a public institution vs. $49,870 for a private school, including tuition and other related expenses such as room and board.
- NerdWallet estimates that the high school class of 2018 left $2.6 billion in Pell Grants alone on the table, and Form Your Future reports that students miss out on $24 billion in total aid each year.
- To be considered for federal student aid for the 2020-2021 year, you must have submitted the FAFSA form by June 30, 2020.
- Life insurance cash values are generally NOT reportable on the FAFSA form when tabulating parents' assets for financial aid qualification. Cash value life insurance may be a valuable way to accumulate assets, especially if you're starting very early for children.
- Minor children can qualify for cash value life insurance without having a medical exam, usually until the age of 16 or 17 (depending on the carrier). After age 18, they are considered an adult and may be asked for an exam (depending on face amounts). It could also be harder for them to qualify financially.
The College Planning Kit for Parents includes:
Paying for College – a comprehensive report from Prudential covering:
- Student loans
- Applying for student aid
- The FAFSA form
- 529 plans
- Scholarships
- Tax-Credits
Supporting College Funding Through Life Insurance
A cash accumulation sales idea from John Hancock.
Death Benefit Protection and Help with Tuition Costs
Learn how life insurance can meet death benefit protection needs and help pay for college education.
Click below to download the FREE College Planning Kit for Parents.
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We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966
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For agent use only - not for use with the general public.
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Corporate CA License No. 0D87913
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21820 Burbank Blvd., Suite 301
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