Quick Facts

  • 70% of graduates leave college with an average of $28,400 in debt (2013).1
  • 40 million Americans have at least one outstanding student loan, with the average loan borrowers carrying four student loans.2
  • 90% of loan co-signers who apply for a release from the loan are rejected.3
  • Nationwide student loan debt is at an all-time record of $1.2 trillion, an 84% jump since the recession in 2008.2

Earning a college degree from your institution opens the door to a rewarding career for your students, but they do incur significant debt along the way. If tragedy should strike and a student dies, family members and co-signers could still be responsible for paying back student loans. (e.g. Parent PLUS loans)

You can provide reassurance to student families and stand out among universities by offering Student Protection Plus. The Student Protection Plus Insurance for Life plan can cover much of the average student’s college debt.

Regardless of any preexisting health issues, your students will receive portable life insurance, which means students can take the coverage with them when they leave school. This is both valuable and important because after policy owners enter the workforce, life insurance will be essential to protect their families’ financial security. Studies show 97% of college students do not have life insurance.

Insurance for Life benefits:

  • Provides $100,000 flat benefit amount for undergraduates and up to a $250,000 flat benefit for graduate students.
  • Coverage for life without asking medical questions and regardless of preexisting conditions.
  • Option to continue at group rates after college.
  • Comprehensive coverage - No suicide or terrorism exclusions for the basic life plan.
  • Student can elect portable coverage and continue at the group rates after leaving college if they choose.
  • If a student becomes terminally ill with a life expectancy of less than 12 months, he or she can access a living benefit.
  • Provides parents and family members financial security regarding student loan obligations.
  • Coverage is year round.

In the news:



Student Protection Plus' Life Insurance Partner

The contents of this page are not a policy. For specific details, refer to your contract. Underwritten by: Unum Life Insurance Company of America. Unum is a registered trademark and marketing brand of Unum Group and its insuring subsidiaries.



1 Bidwell, Allie. Average Student Loan Debt Approaches $30,000. US News. U.S. News & World Report, 13 Nov. 2014. Web. http://www.usnews.com/news/articles/2014/11/13/average-student-loan-debt-hits-30-000

2 Ellis, Blake. 40 Million Americans Now Have Student Loan Debt. CNN Money. Cable News Network, 10 Sept. 2014. Web. http://money.cnn.com/2014/09/10/pf/college/student-loans/

3 CFPB Finds 90 Percent of Private Student Loan Borrowers Who Applied for Co-Signer Release Were Rejected. Consumer Financial Protection Bureau, 18 June 2015. Web. 2 Ellis, Blake. 40 Million Americans Now Have Student Loan Debt. CNN Money. Cable News Network, 10 Sept. 2014. Web. http://www.consumerfinance.gov/newsroom/cfpb-finds-90-percent-of-private-student-loan-borrowers-who-applied-for-co-signer-release-were-rejected/