Allianz Global Assistance, a leader in specialty and assistance insurance, has expanded its tuition insurance plans to provide additional security for students forced to withdraw from school prior to the completion of the semester for reasons including seasonal viruses such as the flu, chronic illness, mental illness, serious injury, or even an unforeseen family crisis.

This special insurance plan protects both in-state and out-of-state non-refundable college tuition for residents of 28 states including several ranked within the top ten highest college costs in the nation, such as Pennsylvania, New Jersey, and Virginia.

“Research shows that while the majority of parents with college-bound high-schoolers are unaware tuition insurance exists, they largely believe it is important for their family’s finances,” said Joe Mason, CMO of Allianz Global Assistance. “More and more students take breaks from school due to health issues or personal emergencies, and this is sure to increase during the winter months. We are excited that our insurance services have been approved in 47 states, and we have already launched in 28.”

Across the United States, the costs of college tuition and additional fees have increased dramatically since 2000, but many students aren’t completing postgraduate education in four years due to unforeseen illnesses, adding substantial tuition expenses:

Ÿ  More than 7% of college students (ages 18—23) live with a chronic illness in the United States.

Ÿ  Now more than ever, students are taking leaves of absence for personal reasons. Health concerns are the most common reason.

Ÿ  Nationally, tuition costs have risen 70% since 2000, although both four- and six-year graduation rates remain surprisingly low.

Ÿ  Only 32% of students entering a four-year public university will graduate in four years, and only 55% of students will graduate in six years. In 2016, 20.4 million students are projected to attend American colleges and universities, constituting an increase of nearly 5.1 million since 2000.

“Climbing tuition rates put financial stress on students and their families. Combine that with the large number of risk factors that make college students more likely than others to become ill in the winter and it is clear that there is truly no better time to protect the investment in a college education.”

Allianz Tuition Insurance offers three different plans, all of which must be purchased prior to the first day of the spring term. All plans include Allianz Global Assistance’s proprietary Student Life Assistance, a 24/7 service that assists families in the event of an emergency.

Allianz Global Assistance is a part of Allianz, a 125-year-old leader in the financial-services industry and one of the world’s largest insurance providers. To learn more, please visit
AllianzTuitionInsurance.com.

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