College Saving and Your Life Insurance Policy

You can utilize your life insurance policy college savings feature to fund your child's education.

Premiums can vary by as much as 50%. Visit Netquote, where you can fill out a short form, select a plan, and input your personal data for a true personalized quote in minutes. Click here to start.

Use Insurecom to compare additional term life and whole life quotes, and get expert advice from an agent in your area, who can help you design a plan that's right for you. Click here to fill out a quick form.

College Savings

Life insurance can be used for college savings and it guarantees that your child will have enough funds to pay for college in the event of your death.

Cash value = college savings

The college savings feature of a cash-value life insurance policy allows you to take out a loan on your life insurance policy.

The benefit of this method is that no taxes are applied to these loans (just keep making your premium payments).

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Only a whole life insurance policy is eligible for the college savings feature. Check outInsureMe, a great site that provides more information on college savings life insurance.

College savings choices

To enjoy the benefits of this feature, you must purchase a cash-value policy - which is a whole life insurance policy.

Next: estate planning.

For more help . . .

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

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