RICHMOND (WSLS 10) - Along with buying a home and buying a car, tuition is one of the biggest investments families and students make, but it's the only one not covered by insurance - until now.
Richmond-based Allianz Global Assistance now offers insurance to cover the cost of tuition in the case a student cannot finish a semester due to illness or unforeseen crisis. Policies for the tuition insurance costs begin at $29.95 per semester.
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Daniel Durazo, Communications Director at Allianz Global Assistance explained, "We recently did a survey that shows only 32 percent of college freshmen will graduate in four years. What that meant for us is that students were leaving school for unexpected reason. They might get sick. They might get hurt. They may have some psychological issues maybe, or maybe it's just an adjustment issue."
Some colleges and universities offer similar insurance policies. Most require plans to be purchased on or before the first day of classes.