Some advisers promote life insurance as the tuition cure-all. Yet a four-month investigation by MONEY has found that the people most likely to profit from this strategy are the planners themselves.
Parents should follow these steps annually, since financial and family circumstances may change.
Anna in Riverside, Calif., thought she was doing the right thing by securing her child’s college education with a life-insurance plan. Then she read my column last week about the Gerber Grow-Up Plan, a whole life policy that provides pricey, unnecessary coverage for children.
Whether they are graduating from kindergarten, elementary school or high school, there is no better way to celebrate a child’s education than with a contribution to their 529 Plan.