Ensuring Your Child's Education
Protecting Their Future
At InsureGrad, we understand the importance of a college education. That's why we offer education insurance that safeguards your child's education in case of the unexpected.
About Us
Our Mission
At InsureGrad, we are driven by the conviction that education is transformative. We firmly believe that education empowers individuals, opening doors to a world of opportunities and enabling them to forge their own paths to success. As an insurance company, our mission is to provide a safety net for students facing financial challenges during their college journey. Through collaboration with parents, colleges, and students, we ensure that in the event of a parent's untimely passing, the student will receive the necessary financial support to complete their college education uninterrupted, allowing them to pursue their career aspirations without compromise.
Why is education insurance necessary?
Source: Sallie Mae
Source: Education Data Initiative
Over the past two decades, the cost of college expenses, encompassing tuition, room, and board, has surged significantly (upper-right graph), placing immense financial strain on parents. Presently, the majority of students rely entirely on their parents' financial support to cover college-related costs (as you can see on the upper-left chart), spanning tuition fees, accommodations, and miscellaneous expenses. In the absence of parental financial resources and assistance, students face insurmountable hurdles in completing their education. Consequently, it becomes imperative for every parent to secure their child's educational future through an education insurance policy. In the unfortunate event of a parent's demise, such a policy ensures that the student receives essential funds to continue their education unabated and embark on their individual career trajectories with confidence and independence.
Why should you consider buying education insurance?
Household Expenses
Household expenses in the US now average $70,000 annually, encompassing mortgage payments, car expenses, utilities, travel, healthcare, and other daily living costs. Unfortunately, in the event of the primary earner's passing, education expenses often take a backseat as families scramble to cover these essential expenditures. Consequently, college students may be forced to abandon their studies and seek low-paying jobs that fail to match their potential, depriving them of lucrative career opportunities.
Inadequate Life Insurance
In the United States, over 100 million individuals lack adequate insurance coverage, leaving them vulnerable to financial instability in times of crisis. Forbes reports that "44% of American households would encounter significant financial difficulties within six months if they lost the primary wage earner in their family, and 28% would reach this point in one month or less." Education insurance policies offer a solution by providing students with sufficient funds to cover all college-related expenses. By ensuring access to higher education, these policies pave the way for students to obtain degrees and pursue lucrative career opportunities.
Cheap and Flexible
Education insurance policies offer flexible terms ranging from 4 to 5 years, tailored to meet the specific needs of both the primary payer and the student. Unlike traditional life insurance policies that may require a commitment to pay premiums for 10 years or more, education insurance provides coverage for a defined period, typically up to 5 years. This allows parents to customize their coverage according to their university-specific requirements, with premiums starting as low as $10 per month. Importantly, education insurance ensures that parents do not overpay for coverages they may not need, offering a cost-effective solution to safeguard their child's educational future.
We want to hear from you!
We are launching our education insurance products soon.
For any questions, reach out to Malhar Pagay at malharpagay@insuregrad.com