December 16, 2018

Sallie Mae to Offer Tuition Insurance and Student Health Insurance

“Before today, investing your money in the education of yourself or your children was a choice that had to be made outright, without little insurance or security provided that would cover student loans and other necessary expenditures of college students. On July 11, 2011, the nations leading insurance company that focuses on education, Sallie Mae, announced an entirely new insurance portfolio that will help families protect the investments they make in higher education. Entitled Sallie Mae Insurance Services, this new insurance company that will be focused entirely on providing insurance for college students in America.

“”Since its founding nearly 40 years ago, Sallie Mae has helped more than 31 million people pursue their education dreams,”" said president and chief operating officer of Sallie Mae, Jack Remondi. “”These new insurance products will help students and families protect their investment in higher education.”"

In partnership and conjunction with Next Generation Insurance LLC, Sallie Mae Insurance Services plans to be the first insurance agency to truly provide complete protection for the investments that are included in paying for a college education. The Next Generation Insurance Group, in cooperation with Sallie Mae, will be licensed in all 50 states and will provide personalized insurance portfolios to the 23 million students who act as customers to Sallie Mae.

The already popular Upromise program currently offered by Sallie Mae has helped to raise $600 million towards college payments for students, and the company manages or services a whopping $238 billion in education loans and $37 billion in college savings plans. The amount that Sallie Mae already administers in collegiate insurance services is huge, and placing these new insurance portfolios on the market will only increase those numbers, making this new business move quite a hot topic for the investor crowd.

Some of the changes that Sallie Mae has put into action today includes direct tuition insurance packages to American college students, student health insurance, and renters insurance to protect the monthly expenses on living. Sallie Mae will also be offering complete offers that will provide all of the above mentioned services, as well as identify theft protection and other insurance policies designed to protect all types of investments made into greater education.”

Marketwatch

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