After the chill days of summer comes back-to-school time, when parents have educational expenses on their minds. A good life insurance plan can help you plan for the unexpected.
Term Life Insurance Is Affordable
A term life insurance plan is one of the most affordable ways to help protect everything and everyone in your life that you hold dear, including the money you’re saving for your child’s education. If the worst happens, your children will still have help paying for their education. Some plans are also flexible, so you can modify your coverage amount as your needs change.
A level premium term life insurance plan offers rates that stay the same for a period of time you determine. Choose a length of coverage depending on where you are in life. For example, if you have elementary-school-age children, a 20-year term that continues until they graduate from college can help give you peace of mind and predictable payments for that period of time.
A variable universal life insurance plan is a sometimes underused way to help pay for college tuition. It has the potential to accumulate cash value, which you can then use to supplement your college funding strategy—if the policy has accumulated sufficient cash value to support loans. Another benefit is that the cash value typically doesn't factor into college financial aid calculators.
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These materials are for informational or educational purposes. In providing these materials, Prudential (i) is not acting as your fiduciary as defined by the Department of Labor and is not giving advice in a fiduciary capacity and (ii) is not undertaking to provide impartial investment advice as Prudential will receive compensation for its services/products.
Group Insurance coverages are issued by The Prudential Insurance Company of America, and Group Variable Universal Life insurance is distributed through Prudential Investment Management Services LLC (“PIMS”). Both are Prudential Financial companies, Newark, NJ.