College Make your child's education is more than just a dream

College Make your child's education is more than just a dream -
It is undeniable that, as a parent, you want the best for your child: good health, happiness and a productive and satisfying careers. And one of the keys to achieving this future is education and training.
According to The College Payoff (a 2011 report of the Center on Education and the Workforce), "In 02, the degree holder of a bachelor could hope to earn more than 75% on a lifetime than someone with only a high school diploma. Today, this premium is 84%. "According to the report, while, on average, a high school graduate can expect to earn 1 $ 3 million over a lifetime, a person with a bachelor's degree can expect to gain a life of $ 2.3 million, while those with graduate degrees can be even greater.
But a college education is not cheap. an article on Kiplinger.com quotes a price tag $ 28,500 average for a year at a private college non-profit before adding additional costs such as room and board, books and other expenses. and because of inflation, these numbers will only increase.
Not surprisingly, in addition to obtaining loans students themselves, many students rely on their parents for financial support. But what happens when parents are not there to help them? In situation Chezerea Ortiz, the loss of his father, in his words, "crumbled the foundation of my family." Not only had she to bear the burden of his college expenses on herself, but she was also concerned about the future of his younger brother. You can see history here.
Fortunately, as the biggest beneficiary of the 2011 price life lessons Scholarship Program Chezerea (right) received $ 10,000 to help defray his college expenses. (You can read the stories of others life lessons scholarship recipients www.lifehappens.org/scholarship-recipients)
And even if she is grateful for the help, it also stressed the importance " to be sure that the people who depend on us will be able to take care of things when we left ... life insurance is really one of the few comforts that we can leave our families "
now, ask yourself :. what would happen to your child if you were gone? What kind of future could your child expect? Would he have to choose between giving up their career goals or incurring a massive student debt? If your answer to these questions is "I do not know," then you should consider adding life insurance and disability insurance to your portfolio.
Life Insurance
So you hope to be there when your child graduates from college, the truth is there are no guarantees.. Having a life insurance policy in place can help finance future education of your child, even when you are not there to provide direct cash assistance
life insurance falls into two categories. the term and permanent term life insurance is more affordable but only provides protection for a specific period of time (eg, 20 years) and generally pays a benefit only if you die during the term. This can be a good option if you have a need for a cover that will end at a specific point in time, such as when your last child of university graduates.
Permanent life insurance provides lifetime protection, accumulates the value of the cash and pay the full face value death. Under the policy, you may also be able to enjoy an accelerated death benefit in the event of a terminal illness, which allows you to draw a portion or all of the death benefit to manage spending common, the rest supplied to your beneficiaries upon your death.
disability
Although you are channeling a portion of your earnings into a college fund for your child, what will happen if you are disabled and can 't work? You have three chances out of 10 to suffer a disabling illness or accident keeps you out of work for 0 days or more during your career. What would happen if your salary was to stop? Would you have to dip into savings to make ends meet? And how do you keep putting money aside for the education of your children?
If you think that you could rely on the government, think again. The average monthly benefit paid by Social Security Disability Insurance (SSDI) is a little over $ 1100 per month, and most people who apply for benefits are initially denied. But if you have a disability insurance policy in place, you will receive an income if you are unable to work due to illness or injury, helping to ensure that your plans for the future of your child can still become reality. To learn more about disability insurance, visit www.protectyourpaycheck.org.
So you can dream of the day when gowned cap and your son or daughter graduates, be sure to keep your eyes wide open to the realities of the financial costs of education superior. Having a life insurance policy in place, supplemented by the additional security provided by disability insurance, you will ensure that future education of your child is more than just a dream.