Tuition Refund Insurance
Tuition Refund insurance protects schools and parents from the financial consequences of a student's forced or voluntarily withdrawal prior to term completion.
With Tuition Refund Insurance, a school's revenue source is preserved, the financial burden on families is relieved, and economic losses are prevented. Schools that offer tuition refund possess a valuable competitive advantage. In an era of high unemployment, parents may be more likely to enroll if the school has a tuition refund policy.
Who should consider purchasing this type of insurance?
This product is ideal for Private K-12 Institutions and Colleges. The Tuition Refund plan reimburses the unused insured tuition and fees ('covered tuition') at the benefit level selected when a withdrawal results from a covered cause of loss. Gallagher Student offers the flexibility to tailor a program based on an institution's specific needs.
- 100% of covered tuition for medically necessary withdrawal
- 75% of covered tuition for medically necessary withdrawal due to mental and nervous disorders
- 100% of covered tuition for death of a tuition payer*
- 100% of covered tuition for death of a student
- $5,000 benefit for accidental death of a student
- 100% of covered tuition for epidemic closure
Multiple Enrollment Options Are Available
- Compulsory Coverage - Students are automatically enrolled through the school
- Mandatory Coverage - Mandated for each student who is on a payment plan or otherwise does not pay the full tuition in advance
- Voluntary Coverage - Students are given the choice of purchasing coverage on their own
- Opt-Out Coverage - Each family is automatically enrolled for coverage, unless they 'opt-out' through the tuition contract
Benefits to Your Institution
- $5,000 accidental death benefit
- Customized, 'a la carte' plan design options
- Online enrollment for voluntary plans
- Flexibility to enhance/decrease benefits from 50% to 100% for any coverage
- Full compliance with state mandates
- Complete account management services
Learn how your institution can benefit from a partnership with Gallagher Student
We can have a member of our sales team contact you as soon as they are available to answer any questions or to prepare a proposal.Learn More
Are you considering purchasing a high-deductible insurance plan instead of your school's sponsored plans?
The Patient Protection and Affordable Care Act (PPACA) or "Obamacare" has many students asking what this law means to them and their options for health insurance.