Sunday, November 16, 2014

HS Senior Applying for College? Parents Don't Forget Life Insurance

Thinking of life insurance while your high school senior is in a whirlwind of activities is probably not on the forefront of your mind. Your child is getting excited for their senior pictures,prom, graduating, and going away to college next year. As parents, we are in full panic mode thinking of our children going off on their own and leaving the nest,not to mention the ever skyrocketing costs associated with college.

I recently attended our annual family "Cousins Reunion" and naturally, our children were at the top of the discussion. There are three of us who have children just entering into their first year of college, two who have children still in college, and three who have high school seniors applying for college. To say that we are in the trenches od the college and college prep experience would be an understatement. My niece, who is one of the high school seniors, has already started the process of visiting and applying to colleges. She has already applied at approximately eight different colleges.The entire process can be overwhelming for the entire family.

The college application process is a lot more than just submitting an application. There are usually fees involved, writing essays, and gathering written recommendations, providing high school transcripts, and SAT scores. My brother told me of a really useful website called www.collegedata.com which provides a lot of information from college search engines, college chances calculator (to predict your college admissions chances at over 1,900 colleges and universities), scholarship finder, college costs calculator, and a financial aid calculator. As parents, we have to do our homework as well when planning for college.

After getting over the sticker shock of college tuition, room, board, and fees, we would encourage you to try a life insurance needs assessment calculator to determine if your current life insurance policy is enough to cover thes e(large) additional costs. Once you have determined the coverage needed, you can use a free life insurance quote tool from a reputable life insurance provider to find the best life insurance policy for your current and future needs.

Your high school senior will be starting a new journey next year. There are many ways to start to prepare for this next Pivotal Moment of Life. Please contact a life insurance professional so that they can help you the right life insurance policy to ensure this new and exciting journey will be protected.


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