, Using an Annuity to Help Pay for College


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Using an Annuity to Help Pay for College

Saving and paying for college can be a challenging goal and you may be among the many people who worry about the financial pressure that funding higher education can bring.

The average tuition and fees at an in-state public college is about 73% less than the average sticker price at a private college, at $10,116 for the 2019-2020 year compared with $36,801, respectively, U.S. News data shows. Among ranked private colleges, 120 charge sticker prices of at least $50,000 for the current academic year, according to tuition and fees data reported to U.S. News by 785 private institutions. Only a few ranked private colleges and universities – 61 – list a full rate price of less than $20,000 for 2019-2020.

Thankfully for parents and grandparents, it's never too early to start saving and there are many options to help you prepare for one of the most important milestones in the lives of your children or grandchildren.

Is Term Life Insurance for You?

Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Term insurance is the simplest form of life insurance. It provides temporary life insurance protection on a limited budget. Here’s how it works:When a policyholder buys term insurance, they buy coverage for a specific period of time and pay a specific price for that coverage.If the policyholder dies during that time, their beneficiaries receive the ...

Please Leave Home Without It

Concerns over identity theft continue to grow, especially with the news of data breaches at major companies and financial institutions. Unfortunately, you have little control over when a company is hacked, but you do have control over your own actions. Ten Things to Leave at Home Social Security Card — A Social Security card may be used to open credit card accounts and take out loans. Taking it out where it might be stolen is tantamount to handing the keys to the kingdom to a thief. As ...

1035 Exchange Explained

1035 exchanges can be used to exchange a life insurance policy, modified endowment contract, or an annuity contract for a long-term care policy. According to the most recent information available, Americans have individual life insurance with a total face value of $12 trillion.1 Due to a variety of factors, these individuals may find themselves in circumstances where the specific life insurance policy or annuity contract they own does not suit their needs.2 They may want to exchange ...