Are You Glad You Paid for Your Kids’ College?

students-admission-bad-college-gradesWhen you first bought your life insurance, you sat down with your broker and discussed your financial needs. What should this policy cover?

Income replacement? Check. Mortgage protection? Check. Supplemental savings plan? Could be. Check. Policies for your business? If needed, check. Also maybe cover your estate and charitable interests. Check and check.

And, of course, college funding. That was pretty standard in those days, 20 or 30 years ago. So you added a few hundred thousand dollars onto your face amount, and considered yourself to be doing a good thing.

Why a good thing? Because in the 1970s and 80s, a college education still meant something. If you were on a professional career track, you got a solid grounding in academics. Extremely necessary for any architect, engineer, physician, lawyer, and so on.

If you chose liberal arts, then you got to broaden your mind. Innovative studies. Interdisciplinary studies. Working with others. Social awareness and responsibility. And you know what? Even this track was good for your career. I took this route myself and graduated with a liberal arts degree from a state school in 1980. One big reason I did so was because I understood that employers and corporations considered a liberal arts education to be great training for management. Successful people in business need to see the big picture. And work with anybody. And resolve conflict.

So, many of us bought life insurance to cover college, wanting the same good thing for our kids.

Now you and I have moved on to the next stage of life. Our kids have gone through school, or done whatever they could do. Our life insurance to cover college funding did it’s job of securing the opportunity for our kids to get the same growth experience we had back in school.

But to tell you the truth, I have my doubts as to whether the vast majority of our kids got anything close to that.

Have you been paying attention to what’s been happening on our campuses? “Safe Spaces?” Free college? “Inclusive language campaign?” “Interactive sex workshop?” “Gender binarism?”

Here’s the key question: are the young men and women pursuing these ideals and experiences being equipped to lead responsible lives as adults in this country?

I don’t think so. And I think many of us have a little bit of buyer’s remorse because of that. We can’t be confident that our children can become successful in either their personal or professional lives.

What a shame. And a waste of money. Don’t you think?

Thanks for dropping in!

Please feel free to comment, or to contact me directly with a specific question.

If you need a quote now, or a second opinion on a quote you have received, the best thing to do is to call me toll-free at (866) 633-1818.Or email me at skobrin@stevenkobrin.com.

I also encourage you to download my free Life Insurance Guide – see the above tab. Many people have found it to be extremely educational.

 

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