Best Life Insurance for College Students | Secret Things You Didn’t Know

Today, the best life insurance for college students tends to be indispensable. Thus, we have highlighted this extensively below. In addition, taking your child go to college is both joyful and frightening. You’re releasing them into the actual world, where they’ll no more be guarded or under your roof. However, you are aware that to achieve their objectives, your child will need to mature and learn independently — and that certain lessons are better learned the hard way.

Nevertheless, just because your child is in a dorm or has their residence does not imply you are no longer responsible as a parent. You could be asked to help settle college tuition bills, provide living expenses for students who cannot work during the school year, or provide a safe space for your college grad while they focus on saving money to purchase their first house.

In addition to your parenting responsibilities, you must assist your college student in making prudent decisions that will help them avoid significant financial losses at a time when they are taking critical steps toward a prosperous future. This involves ensuring that your college student has adequate insurance. At this point, the best life insurance for college students will be indispensable for you.

Reasons to Explore Insurance Coverage for College Students

Best Life Insurance for College Students

Students in college are typically concerned with going to class on time, keeping decent grades, and graduating on time. Thus, s Student life insurance can be another topic that they are unlikely to consider.

However, there are specific situations in which a college student must consider purchasing life insurance. It can give a survivor’s family an extra layer of financial security. Consider the following scenarios.

Loans to students

Many college students borrow money to pay for some parts of their education. In the case of federal student loans, the amount payable is canceled if the student passes away before repaying the obligation. Private student loans are which are more like traditional loans and must be paid back; do not fall under this category. These loans usually need a co-signer responsible for repaying the loan if the student passes away.

After a death, the debt repayment plan may be accelerated or even necessitate immediate payback in full. This could put the co-signer in a tight spot as they try to repay the debt or risk damaging their budget and credit score. A student life insurance policy will pay off the remaining loan and financially safeguard the co-signer in a student’s death.

Dependents get adequate coverage

While it isn’t the norm, it isn’t unheard of for an undergraduate to marry or have children while still in school. For some, the opportunity for higher education is just too great an investment to put off. We have many married students with children or other responsibilities that make it difficult for them to start their studies immediately after high school graduation; these same individuals may resume going back into classes later in life when they can devote more time and attention once again towards learning.

Life insurance protects a spouse and family financially by paying for college and other debts, as well as burial costs if the student dies. It may also provide financial assistance to the student’s offspring, depending on the plan.

Keeping parents safe

Student loans are not the sole option for financing college studies. Students’ education can get funding through various techniques, including mortgage interest credit and 401(k) loans. The parents must pay off these loans if the student dies before graduation, which can strain a family’s finances. These costs can get coverage with a term life insurance policy covering the complete amount of their estimated student debt.

College is quite costly. Life insurance coverage protects family members against unpaid college loans and other debts in the case of a student’s early demise.

Best Life Insurance for College Students

After understanding the reasons to evaluate life insurance for college students, we implore you to check out our highlight of the best life insurance for college students below. Come along!

Mutual of Omaha 

Mutual of Omaha stands as one of the first organizations to offer disability insurance to non-professional workers. The company now offers term and whole life insurance and supplementary Medicare coverage for college students. Mutual of Omaha is popular among consumers because of its good underwriting history, low premiums, and straightforward application procedure.

For students aged 10 to 30, Mutual of Omaha provides whole life insurance with death payouts ranging from $5,000 to $50,000. By entering some general details and answering a few health questions, you may get a quotation and apply for insurance online in minutes. There is no need for a medical examination.

Globe Life

Globe Life is an insurer that has been around since 1900. It now offers a variety of college student life insurance coverage. It is regarded as one of the finest students because of its simple application process, waiting time, and low locked-in rates.

Globe Life offers no-medical-exam full life insurance that students may buy online without contacting a doctor or speaking with an insurance salesperson. Coverage is offered from 0 to 35, with death benefit payouts ranging from $5,000 to $30,000 and a cash value that grows over time. There is no need for a medical exam, and your coverage is effective the day your policy starts.

State Farm Insurance

State Farm, which began as a car insurance firm in 1922, today offers several insurance options for college students. Many customers like the company because it provides comprehensive family insurance and adds more children with a low-cost add-on plan.

State Farm provides term, whole, and global life insurance policies and paid add-on insurance. The Student’s Term plan, for example, allows you to add as many children to your existing insurance as you wish, with death benefits ranging from $5,000 to $20,000.

Children can be added to your plan even before they are born, and they will be covered once they turn 15 days old. The policyholder’s term coverage will cease when they reach the age of 65.


The principal is one of the older insurance firms that provide coverage for college students, having been founded in 1879. The principal is popular among parents since it offers a child term coverage that does not require a medical check or checkup questions.

Principal Insurance Company offers a Children Term Insurance plan for students aged 14 to 30 years old, with death payouts ranging from $5,000 to $25,000. Coverage is also available for stepchildren and legally adopted children.

After the child turns 25, the principal allows you to change the plan to any other Principal life insurance policy. You may also extend the coverage up to three times the initial cash value with a limit of $25,000.

Although the principal’s coverage appears to be more basic than other providers, applying for coverage does not involve a medical exam or health questionnaire. This makes it a fantastic choice for children with specific needs who would otherwise be turned away by another provider.

Gerber College Savings Insurance

Gerber is a famous baby food company with an iconic logo that is remembered by millions of people. Since 1967, the organization has also provided life insurance to students. Gerber college savings insurance is popular among parents because it provides life insurance with a fixed payout after the term. Parents can then use this to pay for their child’s college tuition.

The cost of Gerber’s Life College Plan is dependent on your child’s age. You pick a good policy term between 10 and 20 years and change the amount you wish to put into the account monthly once you’ve entered your details.

Gerber’s college savings insurance plan offers an actual payout that ranges from $10,000 to $150,000, based on your child’s age. Gerber will pay the whole benefit to your child or any successor if the policyholder dies before the conclusion of the policy term.

Your child can use the whole term amount to pay for college once your term is up. Unlike a 529 Plan or an academic IRA, Gerber Education Plan has no limitations on utilizing the payout funds. You can use them for college tuition, starting a business, saving for a house deposit, or something else that would assist your child start up properly in life.

Frequently Asked Questions

Is life insurance for college students worth it?

Yes. Life insurance for college students is worthwhile since it offers a variety of benefits.

When is the best time to buy life insurance?

The greatest time to acquire affordable life insurance is while you’re in your twenties.

When is it too late to buy life insurance?

The life insurance provider usually determines the highest age at which you can get premiums. However, if you’re 85 or older, you might find it difficult to find a company prepared to give you coverage.

Is it possible for me to have many life insurance policies?

Yes. There is no restriction prohibiting you from having multiple life insurance policies.


In conclusion, life insurance comes with many merits. And if you desire more information regarding the best life insurance for college students. The highlight above will aid you immensely.


Adam Grabois is an expert in all aspects of Insurance and Property with 20 years of experience. He is a licensed broker of all lines including property, casualty, life, and health. As a licensed adjuster, he is well-versed in all aspects of insurance, and he owns All Needs Insurance agency in Florida.

He attended Tufts University where he earned his undergraduate degree, followed by a Master's degree from Columbia University.

Adam shares his breadth of experience by helping many businesses and individuals manage risk and protect themselves financially. He now shares this with the audience of the "Pro Insurance Info" website.

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