Why Hondros College Offers Life Insurance
Hondros College partners with insurance carriers to give students an affordable safety net. The program is designed to protect families from unexpected financial burdens if a student passes away, ensuring that tuition and living expenses can still be covered.
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Eligibility and Enrollment
All full‑time students, regardless of major or residency, may enroll. Students must be at least 18, maintain good academic standing, and submit a short application. The policy is automatically activated once enrollment is confirmed.
Coverage Details
The plan provides a single life benefit of $10,000. This amount is paid directly to the college to cover tuition, fees, and room & board. If the student's family chooses, the benefit can also be used for other expenses.
Premiums
Premiums are paid as part of the tuition bill, typically $1–$2 per credit hour. The cost varies with the student's age and health history. A student may opt to pay a higher premium for a larger benefit, though the standard plan remains the most common.
How the Payment Works
Upon the student's death, the insurance company files a claim. The student's guardian or designated beneficiary provides a death certificate and a claim form. Once verified, the insurer pays the benefit directly to the college, which applies it to the student's account. Unused funds are refunded to the family.
Benefits for Families and Students
1. Financial Security: Protects against sudden loss of tuition coverage.2. Peace of Mind: Reduces worry about future educational costs.3. Low Cost: Premiums are embedded in tuition, making them budget‑friendly.
Limitations and Considerations
The plan does not cover medical expenses or personal debts. It also does not replace life insurance purchased independently. Students should review the policy terms and consider supplemental coverage if needed.
How to Apply or Cancel
Students can apply online via the college's student portal. Cancellation requires a written request and a 30‑day notice. If canceled, any remaining benefit is returned to the student's family.
FAQs
Q: Is the coverage optional?A: Yes, students may decline the plan, but the college will not cover tuition if the student dies without insurance.
Q: Can I add a beneficiary?A: The insurer names the student's parents as primary beneficiaries, but students can specify an alternate.
Q: Does the policy renew after graduation?A: No. Coverage ends when the student completes a degree or leaves the college.