GradGuard Strengthens Tuition Protection Program to Include Loss of Employment Protection

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May 06, 2024, 08:44 ET

PHOENIX, May 6, 2024 /PRNewswire/ -- GradGuard, the number one provider of college tuition and renters insurance programs, is pleased to announce that it has expanded its tuition insurance protection to include the covered loss of employment of a tuition payer as a covered reason for withdrawal.

This new benefit is only available on GradGuard's Active Choice plan, which can be purchased through a partner school.

Tuition insurance can already provide reimbursement for a complete medical withdrawal due to a covered illness or injury, and death of a student or tuition payer. This new innovation is designed to cover non-refunded eligible expenses when a student withdraws due to the tuition payer being terminated or laid off by a current employer (not including seasonal or temporary positions or if the termination is due to the tuition payer's fault). This benefit is not yet available in the state of Washington.

"GradGuard aims to help college students and their families overcome events that may disrupt their college education. We understand that the unexpected loss of a tuition payer's job can have a devastating impact on a student's ability to continue their education," said John Fees, co-founder and CEO of GradGuard. "By working with our partners at Allianz Global Assistance to include this coverage, we're providing an extra layer of protection for students and families during these uncertain times."

With this addition, students who are forced to withdraw from school due to the covered involuntary loss of employment of a tuition payer can now be reimbursed for their tuition, fees, and room and board.

"Our mission has always been to help students and families protect their investment in higher education," said Fees. "Schools that provide GradGuard to their students help promote greater confidence in the investment they are making in higher education. College students and their families are smart to ask their school for GradGuard's extra level of protection."

GradGuard's Tuition Insurance can provide affordable protection that includes up to 100% of the cost of college including tuition, room and board, and academic fees. In addition, each plan also includes Student Life Assistance, which helps families through the logistics that may accompany an unexpected student withdrawal.

Terms, conditions, and exclusions apply to all plans. For more information about GradGuard's Tuition Insurance plans, visit www.gradguard.com.

Terms, conditions, and exclusions apply, including for pre-existing conditions. Plans only available to U.S. residents and may not be available in all jurisdictions. Plans may not include all benefits or covered reasons described here. Recommended and provided by Grad Guard, a service of Next Generation Insurance Group, LLC (NGI), the licensed agent for all insurance programs. AGA Service Company, dba Allianz Global Assistance (AGA), compensates GradGuard, their national program management partner, for the marketing, distribution and administration of the products. Insurance plans include insurance benefits and assistance services. Pricing may vary by state. Insurance benefits are underwritten by Jefferson Insurance Company (NY, Administrative Office 9950 Mayland Drive, Richmond, VA 23233) rated "A+" (Superior) by A.M. Best Co., A+ (Superior) is the 2nd highest standard of A.M. Best's 13 Financial Strength Ratings. Non-insurance benefits/services are provided by AGA Service Company. Claims are administered by Allianz Global Assistance (AGA). Allianz Global Assistance is a mark of AGA Service Company or its affiliates. AGA Service Company is an affiliate of Jefferson Insurance Company. Plans include insurance benefits and assistance services. Except as expressly provided for under the plan, consumer is responsible for charges incurred from outside vendors. Contact AGA Service Company at 888-427-5045 or 9950 Mayland Dr., Richmond, VA 23233 or [email protected]. Schools do not receive compensation for purchase.

About GradGuard:
GradGuard is the #1 provider of college renters and tuition insurance. Since 2009, GradGuard has protected more than 1.5 million students at more than 1,800 unique institutions. GradGuard's innovative protections are embedded within the enrollment processes of the largest and most prestigious universities in the United States, ensuring their students are protected from the risks of college life.

Contact:
Natalie Hubertus
Sr. Director, Marketing
602-341-5947
[email protected]

SOURCE GradGuard