College Planning

Going to college has long been part of the American dream, and studies show that it's a dream worth pursuing. On average, college graduates earn $1 million more over their lifetimes than people who only graduated from high school.* But with college tuition continuing to increase more than 3 percent per year,* how can you ensure you’ll have the funds you’ll need when your children are ready for college?

A combination of savings, loans, grants, scholarships and work-study programs can help make the dream of college a reality. But did you know that whole life insurance can also be a powerful tool in the college planning process?

Whole life policies:

  • Are not considered in federal financial aid calculations

  • Produce cash value, which can be accessed through loans or withdrawal/surrender of the paid-up additional insurance rider to pay a portion of college costs. If the policyowner doesn’t use the cash value for college planning, it can be used later to supplement retirement or for any other purpose.

  • Offer a guaranteed death benefit, which can be used to pay college costs if the insured dies prematurely.

*“The Economic Value of College Majors,” Georgetown University, May 2015.

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Form No. 190