Have you ever been fearful that an injury mid-semester would leave you unable to attend classes — thereby making you incur that semester’s costs for nothing? Well, Allianz Global Assistance is attempting to alleviate that concern with tuition insurance. This summer, the company has launched a program in which students can insure their college tuition in case of injury, illness, death and, in some cases, unforeseeable circumstances.
In the News
Read what national news outlets are saying about why Allianz Tuition Insurance is such an important, and necessary, way to protect the investment you’ve made to make the dream of higher education a reality.
Allianz Global Assistance featured on Worldwide Business with Kathy Ireland to discuss how they provide financial assistance for college students.
Consider your child is in his seventh week of his sophomore year in college and he comes down with mono, returns home and cannot finish the term. But you already paid the thousands of dollars in tuition, fees and room and board, and you won’t get that money back. Henrico County-based Allianz Global Assistance is addressing that type of risk by introducing college tuition insurance plans.
Along with buying a home and buying a car, tuition is one of the biggest investments families and students make, but it’s the only one not covered by insurance – until now. Richmond-based Allianz Global Assistance now offers insurance to cover the cost of tuition in the case a student cannot finish a semester due to illness or unforeseen crisis. Policies for the tuition insurance costs begin at $29.95 per semester.
Since launching in Arizona in June, the company Allianz Global Assistance’s tuition insurance program has emerged in 10 states — most recently, Virginia — reaching 44 percent of all college students. Confidentiality kept Director of Marketing Joe Mason from disclosing precise uptake numbers, but “we had expectations and we’re encouraged by what we’re seeing,” he said. In an Allianz survey of 1,000 U.S. parents, 81 percent didn’t know tuition insurance existed, and nearly half said they’d buy it, if offered.