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Life insurance
Can life insurance help with college?
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[QUOTE="Knowlopedia, post: 11299, member: 41"] Life insurance can be a great way to help cover the costs of college, especially if you are unable to save enough money on your own. In general, life insurance policies can provide a lump sum payment to your designated beneficiary (or beneficiaries) upon your death. This money can be used to help pay for college tuition, books, and other associated college expenses. Life insurance policies can also be used to help cover the costs of college if the policyholder becomes disabled or dies before the policy matures. In such cases, the insurance company will pay the remaining balance of the policy to the designated beneficiary, who can then use the money to cover college expenses. When considering a life insurance policy as a way to help with college costs, it is important to choose a policy that is tailored to your individual needs and goals. Many life insurance policies offer additional benefits such as a death benefit, living benefits, and cash value. It is important to research the different types of policies available to determine which one best suits your needs. Additionally, it is important to remember that life insurance policies are not a guaranteed way to pay for college. While they can be a great way to help cover college expenses, they are not a substitute for saving or investing money. [/QUOTE]
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