Optional Life Insurance is Available to Protect Your Florida Prepaid College Plan Investment
Student Insurance Services offers optional life insurance to Florida Prepaid College Plan customers. This life insurance is a dedicated-purpose life insurance policy that was designed just for Florida Prepaid and will pay off the outstanding balance on any covered Prepaid Plan in the event of your death. Student Insurance Services has made this optional life coverage available exclusively to Prepaid Plan participants for more than 20 years. Features include:
Coverage amounts that coordinate directly with the outstanding payments due on the Prepaid Plan so you are never buying more insurance than you need.
Joint coverage available for purchasers and co-purchasers – the Prepaid Plan contract is paid off upon the death of either person.
$5,000 of coverage on the student beneficiary automatically included – with up to $50,000 more available for an additional premium.
When you enroll in a new Prepaid Plan and select a payment option that requires monthly payments, you will be automatically given an opportunity to add optional life insurance coverage after you’ve completed your Prepaid Plan enrollment. If you have already purchased a Prepaid Plan and would like to add the optional life insurance coverage, you may do so by visiting Student Insurance Services website at: www.prepaidcollegeinsurance.com/.
Student Insurance Services (SIS), a division of Affinity Group Underwriters, offers optional life insurance coverage for Florida Prepaid Plan customers. The insurance is underwritten by Fidelity Security Life Insurance Company (FSL), Kansas City, Missouri. FSL, as the underwriting carrier, is obligated to pay the benefits outlined in the optional life insurance contract. The Florida Prepaid College Board shall not be liable to Florida Prepaid Plan Customers or any other third party for claims or damages of any nature arising from or related to any optional life insurance coverage with SIS, AGU, FSL or any other insurance provider and the Florida Prepaid College Board makes no representations or warranties regarding the insurance products offered by SIS, AGU, FSL or any other insurance provider. The provider’s terms, conditions and policies shall apply.
The Florida Prepaid College Board does not provide tax or investment advice regarding its Florida Prepaid College Plans or Florida 529 Savings Plan. Florida Prepaid College Plans are financially guaranteed by the State of Florida, Section 1009.98(7), Florida Statutes. Florida Prepaid College Plans may not cover certain fees imposed by state universities or colleges. Please read the Master Contract carefully. The Florida 529 Savings Plan is not guaranteed and is subject to market conditions. Carefully consider the investment objectives, risks, charges and expenses before investing in the Florida 529 Savings Plan. As with any investment, it is possible to lose money by investing in this plan. Please read the Program Description and Participation Agreement carefully.
Summer is the perfect time to put extra money away for college, especially with a little help from Florida Prepaid. Through June 30, if you open a tax-advantaged Florida 529 Savings Plan, we'll seed your account with $25. Plus, set up automatic monthly contributions, and we'll add another $25.