<p>I've bought the tuition insurance for the last 3 years for my son who is in private college. It's ranges from $300-$400. Covers for sickness, accident, disease etc. </p>
<p>I was just about to purchase it again for his last year and I'm wondering how many people purchase this.</p>
<p>A letter is sent out from the university and I purchase it through A.W.G. Dewar online at College</a> Tuition Refund - Home Page</p>
<p>Of all the kinds of insurance one could buy, tuition insurance amazes me. You pay a lot of money for what is ultimately very little protection:</p>
<ul>
<li> the plans have a lot of exclusions.</li>
<li> the colleges themselves have often generous refund policies, so these plans only insure the difference.</li>
<li> with options like taking incompletes and such, there may not be as much at risk.</li>
</ul>
<p>That said, it would be interesting to hear of any "success" stories, but it would be best if the stories actually showed how much was saved.</p>
<p>As you can guess, we did not purchase for my D's four undergrad years.</p>
<p>Considering how cheap the coverage is and how expensive private college tuition is, I'm a little surprised it's not provided by colleges themselves (as a marketing tool).</p>
<p>No, we did not purchase it for either daughter.</p>
<p>His U. offers 100% refund through the second week of term, 50% third week, 25% fourth and after the 4th 0%. The insurance offers 100% starting at the 50% range.
I want to take a chance and not get it, but tuition is a lot of money to spend if you have to pay for it again at a later date in case something should happen. </p>
<p>Although, when I look at he has only missed one class in 3 years due to a nosebleed that wouldn't stop,I think maybe I shouldn't purchase for his last year and save that money toward his tuition in Japan next year for graduate level studies. I'm torn. It's $311 because he's in his own apartment, not at the dorm this year. Not a lot of money to some but I'm frugal.</p>
<p>I am definitely getting the insurance. It is not that expensive and pretty much guarantees full refund when combined with college's refund. Be sure you understand what is covered. Mental health withdrawals s get less coverage, but still pretty good. Why not get it? No guarantee you won't need it, and I'd rather pay the small fee than possibly lose 30k.</p>
<p>I am with newmassdad. Those insurances are similar to extended warranties on appliances. I never buy those either.</p>
<p>I did not buy tuition insurance. Daughter's school still refunded us her tuition when she came down with mono and had to withdraw for the sememster. Maybe we lucked out. Or maybe schools are pretty understanding where illness is concerned.</p>
<p>I plan on buying because it covers even the loans. Just as any insurance plan, better to be protected and not use it then to loose $51,000.</p>
<p>College students are usually healthy -- and I have a hard time thinking that a college wouldn't work with you if it was a true emergency. What about socking the $300 away this year for the kid's "launch" fund. There's always expenses when starting up in a new job after graduation . . .</p>
<p>milk,</p>
<p>How would you risk/lose $51,000? Your school bills the whole year at once?</p>
<p>I believe the premium is for the year, but you are right, I meant 25000 per semester.</p>
<p>A rather interesting company. They went public about two years ago and have been heading south since but they're up about 20% over the last three weeks. SG&A seems a bit on the high side. They seem to make a decent amount of money though.</p>
<p>Warren Buffett had a very nice article on how insurance works in one of his annual reports many years ago. I generally avoid insurance like the plague outside of health and auto insurance. I self-insure for homeowners insurance. I declined to renew after my provider left the state and my agent found a new one at twice the cost. That was about 12 years ago.</p>
<p>One of the things that I don't like about insurance is moral hazard.</p>