Can Your Children Afford College Without You?
Can your children afford college without you? If something were to happen to you or your spouse, would your children still be able to afford to attend college? Planning now may go a long way in ensuring they will be able to go to college even if you are no longer with them. Below are average college prices for 2009-2010, according to collegeboard.com.
Note: Cost figures are from the College Board?s Trends in College Pricing 2009, Trends in Student Aid 2009 and Education Pays 2007.Using the 2009-2010 rates, the total cost of a four-year private college education, tuition only, would be around $105,000. Once you add in room, board, other necessities and annual price increases, the cost can be even more staggering. Make sure that, in addition to the plan you have to finance your child?s college education while you are living, you have a plan in case something happens to you.
Purchasing a term life insurance policy from AAFMAA may be the right solution for you. Our term policies range in coverage amounts from $50,000 to $800,000 and can last to age 50 or 40 (for our Level Term I depending on nicotine status) and up to 30 years with Level Term II. Call a Membership Coordinator for additional information toll-free at 1-877-398-2263 or go online to www.aafmaa.com for instant information and quotes.