Get an affordable alternative to traditional college savings plans. Designed to give parents, grandparents and other family members a way to provide college support for their loved ones, it offers guaranteed growth, no stock market risk and a life insurance death benefit. It’s a financial resource that can be used for educational expenses or any other purpose, and it’s a great way for you to invest in your loved ones’ dreams.
*Important Note - These plans are not considered 529 plans. All 529 plans are issued and administered by the states. Please contact the department in your state for more information on 529 plans.
You choose the duration and amount of the policy — Individuals who are U.S. Citizens or permanent legal residents from 18 to 75 years old can apply for $10,000 up to $150,000 per policy with a cap of $500,000 (in total for all policies) per insured. Maturities range from 10- to 20-year durations.
The plan offers the opportunity for a guaranteed payout for each college year — One of the most unique features of the College Savings Plan is that you can purchase either one policy or up to four additional policies (one each consecutive year) not to exceed a total cumulative $500,000 accumulation for all policies per insured. This layering method is an economical way to spread the cost over multiple years, and enables you to have a guaranteed payout each year to align when college expenses are due.
Your premiums never increase — Your premiums are guaranteed, which means you’ll never pay a penny more as long as all payments are made on time.
You choose how you want to pay — Premiums can be paid annually, semi-annually, quarterly, monthly or as a single premium.
You enjoy the flexibility to use the guaranteed payout any way you’d like — Unlike a 529 Plan, there are no restrictions to how the money can be used, whether it’s for college, trade school, to supplement retirement savings, or for any other savings need or goal.
Cash accumulation is guaranteed with no stock market risk — The College Plan guarantees that when the policy matures, you will receive a check for the full accumulation amount.
A death benefit is included — The College Plan provides death benefit protection, which is a unique feature not typically found in other college savings plans and bank CDs. If the policy owner passes away prematurely, the full guaranteed accumulation amount is paid as a death benefit.
Decisions are made in a timely manner — Our streamlined application makes the process smooth and easy.
No medical exam is required — In most cases, there are no medical exams; however, you will be required to answer a few simple questions about your health and medical history.