Frequently Asked Questions

There are several common types of insurance: property, casualty, heath, and life.
Property insurance can help protect against costs of property damage, protecting your belongings or home. Casualty insurance helps keep you safe from personal liabilities, for instance, if someone is hurt on your property or if you are found to be at fault in a car accident. Health insurance protects you in the case of covered medical expenses by helping to ensure that the costs of care are within your reach, and life insurance can help protect your standard of living should a loved one die.
At GradGuard™ we've identified several primary areas in which students and young adults can benefit from insurance:

Tuition: There are several types of tuition insurance, and plans help to relieve the financial strain higher education could put on students and their families in the event that a student's semester is interrupted or a tuition payer's ability to pay is interrupted.

Health: Although students and young people are generally healthy, the costs of medical treatment can be difficult to bear without the help of insurance. There are several options for students and young adults, ranging from a short-term plan to permanent, individual plans.

Renters: Renters insurance offers students and young adults help protecting their belongings, liability, and who don't own their own homes and reside in apartments or dorms.

Auto: Auto insurance mandates vary from state to state, and this coverage can help students protect their cars and liability.

Life: Life insurance provides young adults with the means to protect their loved ones and standard of living.

Identity Theft: Budgeting and saving are only two ways to take care of your finances, for young adults, protecting yourself from identity theft and fraud is important as well. Benefits plans can help monitor students' identities and resolve fraud.

Travel: Whether you are traveling to school, to a job, or to a Spring Break destination, travel insurance can help protect your trip by refunding fees and offering travel assistance.

In insurance, liability is when the insured is found legally responsible for a loss. You could be held liable for something as simple as someone slipping and falling in your apartment and sustaining an injury, or being found at fault in a car accident. You can also be held responsible for property damage, say if a space gets damaged during a party you throw. If you're renting, it's important to keep in mind that landlords do not cover your liability, so their tenants can be held liable and face charges in these cases. Insurance can help protect you from these costs.

Underwriters and agents work together to insure customers. While agents sell the insurance, underwriters assess associated risks, and write the insurance policy. Underwriters take on the financial risk, while agencies help determine the most beneficial types of plans for customers.

There are many things to consider when trying to determine how much insurance coverage to buy. The best way to figure out what's right for you is to speak with an agent. You'll have to consider potential costs you could pay if you were to go uninsured, in comparison to the rates of an insurance plan. It's also important to think about any risks or circumstances that are specific to your lifestyle. Talk with an insurance agent for more information.

Yes, parents can purchase policies specifically for their children, just be sure to list them as the insured party.

Property insurance protects against potential risks property could face such as fire, earthquake, and flood. Casualty insurance protects against being held liable for any damage done to persons or properties due to negligence. Health insurance helps keep the costs of care within your means, and life insurance can provide protection for your standard of living if a loved one dies.

Mandating insurance can allow states to better protect their citizens without having to raise taxes. Depending on state regulations, you may find that auto insurance or health insurance can have specific mandated coverages. You can talk with an insurance agent to determine what you need. It depends on your state; Idaho, for example, has only 13 mandates, while Rhode Island and Virginia each have 70.

There can be other reasons you are mandated to get insurance coverage too, regardless of state regulations. If you live in a dorm or apartment building, school administrators or landlords may mandate that residents purchase renters insurance. Be sure to check your lease or with your university to see if they have any insurance requirements.

Not necessarily. While many insurance plans can cover the children of the policyholder, additional coverage is sometimes necessary. Families should look over their insurance policies to determine whether their young adult might need something more. Young adults may only be covered under certain circumstances, like if they reside with the policyholder or are under a certain age. It's also important to consider that the risks young adults may face can depend on their life stage, and that they may need different coverages as they get older.

Not exactly. Renters insurance can be important for anyone renting a property or living in a dorm because it can help protect personal belongings and liability risks. You don't need to own your residence to be at risk; most landlords and schools' policies do not protect you from certain liabilities, and most do not replace your belongings!

Health insurance is important to have because of the risk of unforeseen medical problems arising in the future. In 2005 alone, uninsured students incurred $120 million to $255 million in uncompensated care for non-injury-related medical events (GAO). Health plans can help cover some of those expensive medical costs. Also keep in mind that since the Supreme Court upheld the health insurance mandate, most Americans will be required to have health insurance starting in 2014.

Life insurance helps the insured protect the standard of living of their beneficiary should the insured die. There are many different types of life insurance, two of these being "term life" plans and "whole life" plans. Term life covers the insured for a set period of time, while whole life protects the insured throughout their life.

GradGuard™ is a service of Next Generation Insurance Group, a national specialty insurance marketing firm that focuses on serving the needs of students, young adults, the colleges and universities they attend, and their families.

Many young adults and students don't think to purchase life insurance. However, it can be smart to lock in a rate while you are young and healthy, since your rate will likely be lower at this time. Speak with an insurance agent to determine if life insurance is something you could benefit from, and whether a term or whole life policy makes more sense for you.

GradGuard™ offers insurance and benefits plans suited to the lifestyles of young adults and students, thanks to the expertise of our team comprised of veteran collegiate, insurance, and affinity marketing executives.

Just as you purchase insurance to protect your home and car, tuition insurance allows you to protect the investment you make in higher education for yourself or your student. Tuition insurance can reimburse you for non-refundable tuition, fees, and room and board costs (up to the amount of your policy limits) should you or your student have to withdraw from school for a covered reason.

Tuition insurance can reimburse you for up to 100 percent of tuition costs, as well as fees, room, and board. The GradGuard Tuition Protection Plan by Allianz Global Assistance also includes Student Life Assistance benefits.

You must purchase the policy prior to the first day of classes for each semester.

Yes, a student needs to purchase any additional coverage prior to the first day of classes. You may cancel your existing coverage and re-enroll with higher limits prior to the first day of classes, if you wish to increase your coverage. Coverage options may vary by school.

Not necessarily. Tuition refund policies vary by school, but typically a school will only provide a partial refund for withdrawal after classes have begun, and will provide no reimbursement after a certain date.

Non-refundable costs can include tuition, fees, room and board costs that are not refunded by the school.

The policy begins on the first day of classes and covers the academic term. Multiple terms can be purchased. Specialty terms, like J-Terms, may be covered dependent on your school's program.

The option to purchase up to $75,000 of coverage per term is available. The policy limit is the amount of coverage you purchased for a single term and is listed on your Certificate of Coverage.

Students studying abroad who pay their tuition and fees to their home school, not the study abroad program, are covered.

In most cases, yes. Tuition insurance provides reimbursement of prepaid, nonrefundable payments if your student has to withdraw for one of the reasons covered by your policy. Covered reasons vary by plan but may include a covered illness or injury, psychological or mental disorder, death of the student, and even any unforeseen reason.

Once a claim is approved, payment is made directly to the policyholder. The policyholder is the individual who purchased the insurance.

Yes. Students who pay for all or part of their tuition using a student loan are still eligible for tuition insurance and for a refund of their tuition. If the student is still responsible for paying back the student loan after they withdraw, then GradGuard Tuition Protection Plan by Allianz Global Assistance may refund that amount minus any refunds given by the school. The same applies for any financial aid. However, tuition reimbursement insurance only reimburses expenses paid out of pocket, not grants or scholarships paid directly to the school.

Student Life Assistance is included with all tuition insurance products from Allianz Global Assistance. This is a free service that provides 24-hour assistance to students and their parents in emergency situations. For example, Student Life Assistance staff can help families travel to see their hospitalized student, assist in arranging to transport a student home after receiving medical care, or arrange for a sick or injured student's car to be driven back to their home.

Please call 1-888-427-5045 to begin the claim process. Once you have filed your claim, you will receive a confirmation email as well as required documentation.

Call 1-888-427-5045 to check the status of your claim.

We begin to process your claim once we receive your claim form and all supporting documentation. Please allow up to 10 business days for us to complete this process.

Please mail, fax or email your documentation to:
Allianz Global Assistance
Attn: Tuition Claims Dept.
P.O. Box 72031
Richmond, VA 23255-2031
Fax: (804) 673-1469
Email: claimsinquiry@allianzassistance.com

Call 866-724-4384 to request forms or an additional copy of your policy documents.

Call 866-724-4384 to cancel your policy. For a full refund of your premium, you must cancel within 10 days of purchase and must not have filed a claim.

An existing medical condition is an illness or injury that the student was seeking or receiving treatment for or had symptoms of within the 60 days prior to purchasing the policy. Please also note that you may still be covered for losses caused by reasons other than those related to an existing medical condition. See the Certificate of Insurance/Policy for details.

Yes, Allianz provides reimbursement if the covered student needs to leave school because of a chronic medical or psychological condition as long as the student was medically able to attend school and did not have any symptoms of the condition on the policy purchase date.

Insurance coverage is underwritten by Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 107 series. Allianz Global Assistance is a brand of AGA Service Company. AGA Service Company is the licensed producer and administrator of this plan and an affiliate of Jefferson Insurance Company. The insured shall not receive any special benefit or advantage because of the affiliation between AGA Service Company and Jefferson Insurance Company.

Policies may be canceled and refunded in full prior to the first day of classes. For cancelation inquiries please give us a call or email us at tuition@allianzassistance.com.