Does my college student need life insurance?

Financially speaking, most college students don't need large amounts of life insurance—they have no dependents, minimal income, and few financial obligations. However, there are specific situations where life insurance for a college student makes sense.

If parents have cosigned private student loans, those loans don't automatically discharge upon the student's death. The parent remains liable. A small term policy on the student equal to the outstanding loan balance protects parents from this continuing obligation.

Additionally, if parents are funding education entirely and would lose that investment if the student passed, some families purchase policies to recoup educational costs and transition expenses.

Beyond immediate needs, buying a small whole life policy on a college student—when they are young, healthy, and have clean medical histories—locks in lifelong insurability at the lowest possible rates. Future health events cannot increase these premiums or cancel coverage.

For Nevada students, rates are the same as nationally. Agents in our network can show you illustrative costs for a 20-year-old applying for whole life or term coverage.