Tuition Insurance FAQs

Why Tuition Refund Insurance?

The cost of going to college has skyrocketed in recent years and refund policies at most schools have become much stricter to the point where families could suffer a serious financial loss if their student is forced to withdraw for medical reasons. Tuition insurance reduces the financial risk for families by refunding tuition, room, board and other relates expenses should a student be forced to withdraw.

What does the tuition refund insurance cover?

• Withdrawal from an accredited college or university for medical reasons (100% of covered expenses up to the chosen policy limits).
• Mental or nervous disorder leading to medical withdrawal (100% of covered expenses up to the chosen policy limits).
• Death of the student (100% of benefit).
• Death of tuition payer (if different from student) that leads to withdrawal (100% of benefit).
• GradGuard Tuition Policies Include the Student Protection Plan, a bundle of additional benefits including:
• Personal computer repair for physical and virus damage to a PC, up to $1,000 for each type of damage
• ID theft protection and resolution services
• Emergency Medical Evacuation Coverage
• Extended warranty protection

What is not covered?

• This is not “Dropout” Insurance  -voluntary withdrawal is not covered
• Tuition Insurance does not cover medical expenses or losses resulting from Voluntary Withdrawals not related to a Medical “disability”
• "Loss" which first occurred before the "covered person's" "period of coverage".  We will not pay for an accident that occurred prior to the policy start date or an illness that was “active” at the time of enrollment.  This is NOT a pre-existing condition clause and does not apply to a sickness that may have occurred in the past.

Is there a pre-existing condition clause?

No, coverage is available to any student healthy enough to begin classes.  For instance, if a student had mono in a previous semester and has been given a clean bill of health to begin school and comes down with mono again mid-semester, coverage would apply.  However, if a student has been diagnosed with or shows symptoms of mono and then purchases the policy mid-semester, coverage would not apply for  that condition.   The same applies to accidents  - a student can not purchase the policy after an accident happens mid-semester and expect coverage.

• Failure to attend classes or sessions for any reason;
• A change in a "covered person's" enrollment status, for example, changing from resident student to day student, or reduction in number of classes.
• Early graduation or early completion of classes;
• War, including undeclared or civil war; warlike action by a military force, including action in hindering or defending against an actual or expected attack, by any government, sovereign or other authority using military personnel or other agents; or insurrection, rebellion, revolution, usurped power or action taken by governmental authority in hindering or defending against any of these;
• Fear of contagious disease or epidemic
• Induction or draft into the armed forces.
• Catastrophic events other than terrorism of any kind that result in partial or complete closure of your institution.
• Seizure or destruction of property by order of governmental authority which results in partial or complete closure of your institution;
• Dishonest acts committed by you or anyone employed by you whether acting alone or in collusion with others. 

How much does the coverage cost?

It depends on how much tuition coverage you want.  Click here for detailed pricing information.

Who is eligible for coverage?

It can be purchased by or for full-time students enrolled at accredited colleges, universities or trade schools and it can be purchased any time during the academic year and does not require school-specific underwriting.

What if I have a pre-existing condition?

The policy does not have a pre-existing condition clause.  However, the policy excludes illness that is active at the time of enrollment or an accident that occurred prior to enrollment.  For instance, if a student is being treated for pneumonia at the time of enrollment, forcing a withdrawal two weeks later, coverage would be denied. 

What if I have to leave during the semester due to pregnancy?

If the pregnancy leads to medical complications that require you to withdraw, you will be covered.

What gets reimbursed if I file a claim?

The cost of attendance, including:

• Tuition
• Registration Fees and Educational Fees
• Campus Fees
• Non-Resident Tuition Fee
• Course Materials and Service Fees
• Room and Board
• Books
• Other applicable fees

Is there a deductible?

The policy does not have a deductible.  However, the payment amount will deduct any refund provided to you by the Registrar or other campus offices.

How do I file a claim?

If you have a claim, you must notify us  within 30 days of the loss or as soon as possible. Your claim notice should include the name of the covered person and the policy number. Please send the claim to the following address:

You may also call GradGuard at 877-556-3984 or e-mail us at claims@gradguard.com.

To Download the claims form please click here. 

When can I purchase coverage?

You may purchase coverage at any point prior to or during the semesters. Keep in mind, however, that if the semester has begun and symptoms that could force you to medically withdraw are already present or if you just had an accident, coverage will not apply.

How long does the policy last?

One year from the date of purchase.

Is summer school covered?

Yes, coverage applies to any semester.

What if I spend the semester abroad? Am I still covered?

Yes,  tuition and other expenses for studying abroad are covered including travel.

Can I purchase coverage for just one semester?

We do not currently offer coverage by semester.  However, you can choose the semi-annual payment option and notify us after the semester that you no longer need the coverage.  Essentially you would have purchased coverage for one semester. If a claim has been filed, the full annual premium must be paid.

Are professional development schools covered, such as a Para-Legal program ?

Yes.

Are High School Students eligible ?

Yes, as long as tuition has been paid.

Is there a waiting period before coverage to become effective?

There is no waiting period if you purchase the coverage prior to the beginning of the semester.  If you purchase coverage after the beginning of the semester, there is a 14 day waiting period before you can file a claim for sickness.  The waiting period does not apply to disability caused by an unforeseen accident or death.

Who is GradGuard?

GradGuard the first comprehensive and integrated insurance solution for college students, new graduates, and their familes.  GradGuard is a service of Next Generation Insurance, LLC, a nationally licensed insurance agency and marketing firm.  For more information, visit www.nextgenins.com

Why GradGuard?

• All policies include The Student Protection Plan, a suite of valuable benefits designed for college life.

What is the Student Protection Plan?

The Student Protection Plan is a valuable bundle of insurance and collegiate lifestyle  benefits designed to enhance the GradGuard tuition insurance product to further protect students and their families.  These benefits are often times purchased individually yet GradGuard has included them automatically when you purchase tuition insurance.  The benefits include Identity Theft Protection and Resolution Services, Emergency Medical Evacuation Insurance, Extended Warranty protection and repair coverage for personal computers.  Please see complete details including terms, conditions and exclusions here.

• Students can enroll anytime during the year.
• Available in all 50 states plus the District of Columbia
• Underwritten by Markel Insurance Company, Rated “A” Excellent by A.M. Best
• Includes membership in College Parents of America

Who is College Parents of America?

College Parents of America (CPA) is the only national membership organization of future and current college parents.  The blanket tuition insurance policy is issued to CPA by Markel.  For more information, please visit www.collegeparents.org

Who is Markel?

Markel Insurance Company is the insurance company that underwrites the insurance risk and pays the claims.  Markel is rated “A” Excellent for its financial strength and stability.

Where can I see the policy terms?

Click here for a summary of the policy terms outlining the coverage and exclusions.  Insurance is written as a blanket policy with the College Parents of America and a certificate of insurance will be issued to the member upon enrollment.