Education Insurance in Boynton Beach and Stuart, Florida
The costs of going to college are very high, and no one wants their investment in their education to go to waste. However, there are times when unforeseen circumstances could force you to put your education on hold, and that could equal money lost.
Most educational institutions don’t offer full refunds on education and other costs. Still, if you have to withdraw from courses, you can recoup these costs if you have education insurance. With the help of Wiglesworth-Rindom Insurance Agency, you can get the policy that will make your investment in your education secure, no matter what the future holds.
Call us at 561-637-2424 for more information.
Why Do I Need Education Insurance?
When you go to college, you expect the investment to pay off once you finish your degree. Still, there’s no guarantee that you will be able to complete your coursework. Personal setbacks could force you to withdraw from the institution at any time during a term.
In situations where you have to halt your studies, you don’t want the costs you have already paid (e.g., education, room and board, materials) to be a loss. If you have education insurance, you can receive reimbursement for these costs. Even if you already receive a partial refund from the institution, you can still use this coverage to help you recover more of your investment.
When Will Education Insurance Pay Out?
Education insurance may help recover expenses if the student withdraws from school following:
- Serious illnesses or injuries
- Chronic illnesses or disabilities (including pre-existing conditions)
- Mental health issues
- The death of someone who is paying their education
- Unemployment or job transfer of the education payer
The policy may also help the education payer recover costs if the student dies during the term.
Some policies will also reimburse payers following academic or disciplinary discharges of the student. Others will cover the voluntary withdrawal of a student (e.g., dropouts). However, coverage for these losses is often much more limited.
Please note, some plans now cover withdrawals related to the Coronavirus (COVID-19) pandemic, though coverage is not guaranteed. Speak to your agent to learn more.
What Costs Does Education Insurance Cover?
With the help of your Wiglesworth-Rindom agent, you can customize your education policy to match your educational needs.
- Policies can cover both education itself and other costs like room and board and university fees. Many policies will pay for up to 100% of these costs.
- Policies can cover expenses paid from various funds—savings, college savings plans, scholarships, student loans.
- Some policies cover travel expenses so that students can travel home or their loved ones can travel to see them in a medical emergency.
- Many policies will also offer reimbursement both for in-person and online coursework. Additionally, if you travel abroad for college, then your plan may continue to provide coverage.
What Are the Limits to Education Insurance?
All education insurance policies vary, so it’s essential to talk about your plans for your policy with your Wiglesworth-Rindom Insurance Agency agent. Policies will classify the types of illnesses, injuries or other setbacks that qualify for claims differently. It’s essential to choose one that will most directly address your specific personal concerns.