Secure Your Child's Future with Ethos 20-Year Term Life Insurance
As a parent or guardian, ensuring a bright future for your child is likely one of your most important goals. Education can be a significant financial burden, especially in a state like California, where college tuition and fees can add up quickly. With Ethos’s 20-year term life insurance, you can provide financial security that extends beyond your lifetime and supports your child's educational aspirations.
Why Choose Term Life Insurance for Education Costs?
- Tax-Free Benefits: Life insurance policies provide a tax-free death benefit to cover expenses like education.
- Fixed Premiums: Affordable monthly payments that remain stable throughout the policy term.
- High Coverage: Options for substantial coverage amounts, ensuring that your child's education is fully funded.
Estimating Education Needs with the DIME Formula
When considering the amount of life insurance needed, the DIME formula is a useful tool that factors in:
| Component | Description |
|---|---|
| Debt | Total outstanding debts, including loans and credit cards. |
| Income | Your annual salary multiplied by the years of support needed for your child's education. |
| Mortgage | Remaining home loan balance that may impact your financial plans. |
| Education | Estimated costs for tuition and associated college fees. |
Real Numbers: Education Costs in California
In California, the total cost of education can vary based on the institution, but here are some estimates:
- Public Universities: Average annual tuition is around $14,000.
- Private Colleges: Average annual tuition can exceed $30,000.
- Overall Cost: A 4-year degree can cost anywhere between $56,000 to $120,000, depending on the institution.
With Ethos’s 20-year term life insurance, this financial support can be seamlessly provided, allowing your child to focus on their studies rather than worrying about the costs associated with their education journey.
How to Get Started with Ethos
The application process is straightforward and can be completed entirely online:
- Get a quote in just minutes by answering a few simple questions.
- Fill out the online application—estimated to take about 5 minutes.
- Receive instant approval, often on the same day!
Don't let uncertainty hold you back. Act now to lock in your rates and secure your child's educational future.
