Why do I need tuition insurance?
Just as you purchase insurance to protect your home and car, tuition insurance allows you to protect the investment you make in higher education for yourself or your child. Tuition insurance can reimburse you for non-refundable tuition, fees and room and board costs (up to the amount of your policy limits) should your child have to withdraw from school for a covered reason.
What does tuition insurance cover?
Tuition insurance reimburses you for up to 100 percent of tuition costs, as well as fees, room, and board. The Tuition Protection Plan also includes Student Life Assistance benefits.
Who is eligible for Tuition Protection Plan?
Any student who is healthy enough to begin classes, attending an accredited 4 Year non Profit that offers this Tuition Protection Plan program, and responsible for tuition costs, may be eligible to purchase Tuition Protection Plan. This includes students at a college or university program based in the United States. This does not include private high school, professional development or trade school, or other academic programs. Tuition Protection Plan may not be available in all states. Eligibility and coverage variations are determined by the student’s state of residence defined during the enrollment process.
How long does the policy last?
The policy begins on the first day of classes and covers the academic term. Multiple terms can be purchased. Specialty terms, like J-Terms, may be covered dependent on your school’s program.
How are the policy limits defined?
The option to purchase up to $75,000 of coverage per term is available. The policy limit is the amount of coverage you purchased for a single term and is listed on your Certificate of Coverage?
Is a student eligible for tuition insurance if he or she is paying for college with student loans or financial aid?
Yes. Students who pay for all or part of their tuition using a student loan are still eligible for our insurance and for a refund of their tuition. If the student is still responsible for paying back the student loan after they withdraw, then GradGuard Tuition Protection Plan may refund that amount minus any refunds given by the school. The same applies for any financial aid. However, tuition reimbursement insurance only reimburses expenses paid out of pocket, not grants or scholarships paid directly to the school.
What is Student Life Assistance?
Student Life Assistance is included with all tuition insurance products from Allianz Global Assistance. This is a free service that provides 24-hour assistance to students and their parents in emergency situations. For example, Student Life Assistance staff can help families travel to see their hospitalized student, assist in arranging to transport a student home after receiving medical care, or arrange for a sick or injured student’s car to be driven back to his or her home.
How do I file a claim?
Please call 1-888-427-5045 to begin the claim process. Once you have filed your claim, you will receive a confirmation email as well as required documentation.
How do I submit my claim documents?
Please mail, fax or email your documentation to:
Allianz Global Assistance
Attn: Tuition Claims Dept.
P.O. Box 72031
Richmond, VA 23255-2031
Fax: (804) 673-1469
How do I cancel my policy?
Call 1-888-427-5045 to cancel your policy. For a full refund of your premium, you must cancel within 10 days of purchase and must not have filed a claim.
What is an existing medical condition?
An existing medical condition is an illness or injury that the student was seeking or receiving treatment for or had symptoms of within the 60 days prior to purchasing the policy. Please also note that you may still be covered for losses caused by reasons other than those related to an existing medical condition. See the Certificate of Insurance/Policy for details.
If my child has an exisiting medical condition, can I still purchase tuition insurance?
Yes. Your plan offers coverage for existing medical conditions when: 1. the insurance was purchased within 14 calendar days of initial tuition payment or deposit; 2. the insured student was covered by a similar policy issued by the company within the previous four months; or 3. a covered loss is due to the death of the insured student. Coverage limits may vary based upon your chosen plan. Please see your Certificate of Insurance/Policy for terms, conditions, and exclusions.
Who provides the insurance for these plans?
Insurance coverage is underwritten by Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated “A+” (Superior) by A.M. Best Co., under Jefferson Form No. 107 series. Allianz Global Assistance is a brand of AGA Service Company. AGA Service Company is the licensed producer and administrator of this plan and an affiliate of Jefferson Insurance Company. The insured shall not receive any special benefit or advantage because of the affiliation between AGA Service Company and Jefferson Insurance Company.
What is the cancelation policy?
Policies may be canceled and refunded in full prior to the first day of classes. For cancelation inquiries please give us a call or email us at firstname.lastname@example.org.