• Tue. Jun 21st, 2022

GradGuard Strengthens Student Benefits Programs with Additional Outbreak Protection for Tuition Insurance Plans

ByJanice K. Merrill

Apr 12, 2022

PHOENIX —

GradGuard’s tuition insurance is the first program to offer nationwide protection against outbreaks, including getting sick with COVID-19 – providing a financial safety net when schools don’t.

GradGuard, the leading national authority on protecting students and their families from the risks of college life, is pleased to announce the addition of an Epidemic Coverage Endorsement on new tuition insurance plans. .

Tuition insurance can reimburse a full medical withdrawal due to covered illness or injury, including mental health issues and death of a student or tuition payer.

The Epidemic Coverage Rider may provide protection when an Insured Student withdraws completely from school for the covered period due to an epidemic or pandemic illness, including COVID-19. GradGuard tuition insurance plans purchased on or after February 18, 2022 include the endorsement.

“This new outbreak endorsement shows our dedication to the well-being of students and their families’ investment in higher education,” said John Fees, co-founder of GradGuard. “We have worked with our partners at Allianz Global Assistance to include this coverage to protect students from the risks associated with Covid-19.”

“We are proud to partner with GradGuard to provide epidemic coverage to students and their families,” said Robert Cavaliere, director of sales at Allianz Partners USA. “Adding this important layer of protection in our tuition insurance products is especially timely given the concern over COVID-19 on college campuses.”

Claims due to known, foreseeable or expected events, epidemics, cessation of school activities or fear of going to school are generally not covered. GradGuard’s industry-leading tuition insurance program has been adopted by over 250 institutions nationwide, demonstrating the real need for modern forms of financial protection.

GradGuard tuition insurance can provide affordable protection that includes up to 100% of the cost of college education, including student accommodation, tuition and fees. Additionally, each policy also includes Student Life Assistance which assists families through the logistics that may accompany an unexpected student withdrawal.

“Making the decision to drop out of college is never easy,” Fees said. “GradGuard tuition insurance can help reduce the financial stress that students and families face in these situations and help everyone focus on student well-being.”

It is important for families to note that even before COVID-19, student health conditions force thousands of students to drop out of classes each year, unable to recoup the thousands of dollars paid for tuition, fees, and housing. 34% of students have anxietyand those rates have been rising in recent years, according to data from a 2021 Healthy Minds Network study. Almost 73% of students reported moderate or severe psychological distress in the American College Health Association’s Fall 2021 National College Health Assessment Survey.

The top three reasons why GradGuard Tuition Insurance is a smart move:

  • If the school does not reimburse 100% – Ask your school about its refund policy.
  • If the student has more than $1,000 in academic expenses – Even though the school reimburses 100% tuition fees, most do not reimburse tuition fees or student housing costs.
  • If the student or family takes out a student loan – Student and parent loans must be repaid even if a student has to make a medical withdrawal. Tuition insurance can be used to pay off the balance of these loans.

GradGuard tuition insurance can help reduce the stress students face when considering medical withdrawal. Tuition insurance can reimburse out-of-pocket expenses associated with a student’s housing, tuition, and tuition, helping everyone focus on the student’s well-being. Students with pre-existing conditions may also be protected if they are medically cleared to attend school at the time they purchase their plan.

Additionally, each policy includes Help with student lifewho can assist families with the logistics that may accompany an unexpected student withdrawal with the following:

1. Family travel assistance: In the event that the Insured Student becomes ill or injured requiring Hospitalization during the Covered Period, we can help arrange travel to the hospital where the Insured Student is admitted.

2. Bringing the insured student home after medical treatment: If an Insured Student becomes ill during the Covered Period and needs to be transported to a higher level care facility or home, we can arrange transportation to a location or medical facility of their choice. We can also arrange transport to include a medical escort if required.

3. Return of the vehicle: If the insured student cannot drive home due to illness or injury, we can arrange for the insured student’s car to be driven to their place of residence in the United States. Please note that the above services are support services only and not financial benefits. The recipient of the services is fully and solely responsible for all fees charged by the providers for the services provided. All plan terms, conditions and exclusions apply.

“Students and their families can trust the schools that offer GradGuard’s insurance programs to help protect their investment in college and are prepared to weather unexpected events that might otherwise disrupt their semester,” Fees said.

For tuition insurance plans purchased before February 18, 2022 that do not include the Epidemic Coverage Endorsement, GradGuard and Allianz Global Assistance are currently accepting claims when an insured student withdraws completely from school for the Covered Period due to illness related to COVID-19. This accommodation is strictly applicable to COVID-19. All other plan terms, conditions and exclusions apply as normal.

Tuition insurance plans have terms, conditions, maximum benefit limits and exclusions that apply. Plans are only available to US residents and may not be available in all jurisdictions. Plan terms, coverage, and limitations vary by plan purchased and state. GradGuard is a service of Next Generation Insurance Group, LLC, the authorized agent for all tuition insurance plans. The plans include insurance benefits and assistance services. Insurance benefits are underwritten by Jefferson Insurance Company. Non-insurance benefits/services are provided and managed by Allianz Global Assistance. Claims are administered by Allianz Global Assistance. Allianz Global Assistance and Allianz Tuition Insurance are trademarks of AGA Service Company d/b/a Allianz Global Assistance or its affiliates. AGA Service Company and Next Generation Insurance Group, LLC are subsidiaries of Jefferson Insurance Company. The Insured will not receive any special benefits or advantages as a result of AGA Service Company or Next Generation Insurance Group, LLC’s affiliation with Jefferson Insurance Company. Except as expressly provided in the plan, the consumer is responsible for any charges incurred by outside providers for assistance or concierge services. Contact Allianz Global Assistance at 888-427-5045 or 9950 Mayland Drive, Richmond, VA 23233 or [email protected]

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GradGuard is the nation’s leading provider of college renters and tuition insurance. More than 450 colleges and universities trust GradGuard to educate and protect nearly one million students and families. Visit GradGuard.com to use its college insurance search tool to find insurance programs that are right for your student or recommended by their college or university.