Options for college planning.

by Michael on June 6, 2009

in College Planning,life insurance

graduationbluergbIn these economic times, what should a parent do to plan for their child’s college costs? One solid planning tool and, in my opinion, one of the safest options is an old fashioned “whole life” plan.

Whole life insurance?

That’s kind of expensive, isn’t it?

If a person needs short term life insurance in large amounts, well, yes it is expensive.  But you are looking for a means of funding college tuition, so you may find whole life insurance expense to be very reasonable and … once again, safe.

The key is maximizing the cash value while at the same time providing insurance on the breadwinner (that’s the parent) to assure its completion. That is to say, should the parent die, the life insurance proceeds helps to pay for the college tuition and if the parent lives, the cash value of the policy helps pay the college tuition when the time comes for your offspring to leave for college.

The concept is pretty simple!  I know of no other concept that matches this one for safety and certainty.  The outcome is insured, what a person plans for is what will happen – essentially eliminating the element of risk associated with many other options for college planning. This does not mean other plans do not have their place, but purchasing a good whole life insurance plan is, to my way of thinking, the easiest and safest way to get what you want;
and for your child, that means a good start on meeting their future college tuition costs.

May I show you how this will work for you?

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