(PRWEB) June 05, 2014
A life insurance policy provides a death benefit which can be used to cover college education costs for young family members. Parents can purchase a policy and name their children as beneficiaries. For better control over the proceedings, clients can open an account under their children’s names.
The account can then be managed by a lawyer and include a clause that allows the amount to be spent only on college tuition costs. It is possible to purchase a life insurance plan online, without taking medical examinations. Clients can select such a policy if their busy schedule does not allow the necessary time to apply for a traditional plan.
Besides a short application process, no medical exam life insurance plans provide several other advantages. They can be purchased online and they are accessible for seniors and for clients who have a terminal illness. Clients can compare free online life insurance quotes to find the best rates.
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