How Ethos’s 10-Year Term Life Insurance Supports California Parents Planning for College
As a parent, the thought of ensuring your child's bright future can be overwhelming. One key aspect of that future is their education, and Ethos’s 10-year term life insurance could be your ticket to peace of mind.
Understanding the Financial Burden of College
With costs rising annually, planning for your child's college education has never been more critical. Consider the following:
- The average cost of tuition at California colleges can range from $6,000 to over $15,000 per year depending on the institution.
- When factoring in living expenses, textbooks, and supplies, the total can easily exceed $100,000 for a four-year degree.
- Additional expenses, including dining and transportation, can add even more pressure on your budget.
Why Choose a 10-Year Term Life Insurance Policy?
Ethos’s 10-year term life insurance provides an affordable safety net for California parents:
Key Benefits:
- Affordability: Premiums are typically low, starting around $26/month for a healthy 40-year-old, allowing you to allocate resources towards college savings.
- Security: In the event of an untimely passing, your children can receive a tax-free death benefit to fund their education.
- Simplicity: 100% online application with no medical exams—get instant quotes in as little as 5 minutes.
The DIME Formula: Estimating Your Coverage Needs
To ascertain the right amount of coverage for your family, consider:
| Factor | Estimate |
|---|---|
| Debt | $50,000 |
| Income | $100,000 x 10 = $1,000,000 |
| Mortgage | Your remaining balance |
| Education Savings | $100,000 |
Experts generally recommend at least 10 times your annual salary as coverage to ensure financial stability for your children.
Act Now for a Bright Future
Don't wait to secure your child's education. Ethos’s 10-year term life insurance is an ideal solution for California parents seeking peace of mind while planning for the inevitable expenses of college.
