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Life Insurance for Student Loans

Life insurance for student loans is a form of insurance that covers the insured’s student loans debts, in addition to other outstanding debts, medical bills and legal fees, in the event of death. This coverage is essentially term life coverage, and is a great option for people with student loan debt. Although you may not have any other significant debt besides your student loans, the expense of college loans is enough to put your co-signer in debt if you are no longer there to pay the expenses.

In addition to protecting your co-signer from debt and paying off your student loans, there are other benefits to have this coverage.

Life insurance for student loans benefits:

• It is very affordable.
• Provides monetary support to cover financial responsibilities for the insured.
• Typically provides a higher payout than whole life insurance policies.
• You have the ability to build terms that meet your needs.
• You can earn interest on your premiums, which can create an extra source of income for emergencies.
• When your policy expires, you can receive a refund of all your premiums.

For more information about term insurance for student loans and its benefits, please fill out the form on the right. You can also call toll-free to speak to a qualified representative about a term plan that will suit your budget and coverage needs.

Note: Not all benefits are available in every state. Please ask your insurance specialist for more details.