Guaranteed Education – Stage of Guaranteed Education

Guaranteed Education Plan
A guaranteed Education Plan is defined as a contract where one of the parties (the insurer) agrees to pay the other party (the beneficiary) a periodic, established amount during an agreed period of time.
Stages of a Guaranteed Education.
  1. Planning for your children’s education begins long before they reach the age to enter a university.
  2. As part of the process of planning for education, our customers meet with a financial consultant from StateTrust Life to determine and project how much income they will need to pay for their children’s education, among other things. This is how you will decide the amount to invest in the education plan of your choice.
  3. Once you have decided on the amount of income available for savings, as well as the estimated costs of education; with the assistance of your financial consultant, an outline or example of a plan will be drawn up for your evaluation and final decision. This sets the plan in motion.
  4. A StateTrust Life and Annuities consultant will advise you in a timely manner and throughout the life of the plan, to help you take appropriate actions when circumstances change.
  5. When your son or daughter begins his/her higher education (or has reached the age to enter a university), you will begin to receive an income every six months to cover expenses for the number of years you have selected.

These plans also offer a full insurance option for your children’s education savings plan, which is activated at the time of death of the insured and before the benefit payment period starts.