College is expensive; that’s no surprise. But what may surprise you is you have more options than you may realize when it comes to saving for it. What if your child’s (or grandchild’s or nephew’s or niece’s) tuition was discounted as a benefit of your purchase of a particular life insurance product?
With its Tuition Rewards ® program, Cashback Life 20 & 30 is an excellent alternative to traditional term life insurance. Cashback Life 20 & 30® gives you the best of both worlds: Term life insurance plus tuition assistance. Policyholders also receive a return of 100% of their premiums at the end of the term.
Traditional solutions like 529 plans can interfere with financial aid. The Cashback Life Insurance program with Tuition Rewards, overseen by Kansas City Life and available through Dreggors, Rigsby & Teal, P.A., helps clients save for college for their designee by collecting points through the program. Each point collected equals $1 in tuition discounts (scholarships).
- Earn 500 points when we talk to you about the Cashback Life Tuition Rewards program.
- Earn 4,500 points when you purchase a qualifying product.
- Earn 2,000 points for every year you keep the qualifying product.
These Tuition Rewards points are earned by account holders – who can be parents, grandparents, aunts or uncles of the tuition beneficiary. The Rewards must be assigned to a student before the start of their senior year of high school. One student can receive points from multiple sponsors/account holders.
The Tuition Reward program can cover up to 25% of the cost of a four-year education at participating private colleges, and are taken as a discount off the “list price” of tuition. What’s more, these discounts do not impact financial aid and they are not taxable income.
If you’re stuck on how to pay for college and are in the market for a life insurance product, give Dreggors Rigsby & Teal a call today at 386-734-9441, or email us at firstname.lastname@example.org. We may have the perfect solution to help you curb the cost of the all-important college experience, while maintaining the life insurance you need.