Tuesday, September 7, 2010

Frequently Asked Questions

Who can join College Parents of America?

Membership is determined by the elected Board of Directors of College Parents of America, the nations only organization serving the needs of current and future college parents. 

Eligible membership can be purchased by college parents, students or other individuals or entities with an interest in higher education.

Who may benefit from CPA’s Tuition Insurance coverage?

The Tuition Insurance applies to the household of all members of College Parents of America who may have a substantiated "loss" of tuition, academic fees, room and board as a result of a medical withdrawl from an accredited college, university or trade school as a full-time student.

Eligible students include both foreign and U.S. students studying in the U.S. as well as U.S. students studying abroad.

Are additional levels of the tuition refund coverage available to members of College Parents of America?

Yes, additional coverage levels are available to members of College Parents of America through GradGuard.com. Coverage levels include the base membership benefit level of $2,500 per semester/ $5,000 annually.  Additional coverage levels up to $50,000 per year are also available.

Is Room and Board also eligible for refund under the College Parents of America Tuition Insurance?

Yes, the actual loss or non-refunded portion of Room and Board paid as a result of an eligible medical withdrawal under the Tuition Insurance Plan is eligible for the specific benefit coverage.

Is membership available in every state?

Yes, criteria for state eligibility is based on the member’s home residence, or the member's state of residence while living at school.

Is membership renewable?

For your convenience, CPA membership may be automatically renewed.  During the membership registration process you will have the option to discontinue or opt-out of the automatic renewal of your membership. 

Can you re-enroll if you let your membership lapse?

Yes, however you will receive a new membership number, and coverage limitations such as the 14-day waiting period for certain non-medical claims will also begin again.

Can you join College Parents of America after the semester begins?

Yes. You may join College Parents of America at any time.  The Tuition Insurance will begin on your membership effective date.  The membership effective date is defined as the time of the receipt of payment and electronic confirmation of enrollment into College Parents of America.

What is the membership fees refund policy?

College Parents of America membership is deemed fully earned and non-refundable. Members may request cancellation of their membership plan by notifying College Parents of America.

Termination of membership charges will occur the later of 15 days or the 1st of the month following notification. Failure to pay a membership payment will be cause for termination of membership.

Who do I call for more information regarding my membership in College Parents of America?

Contact College Parents of America regarding specific membership benefit questions at 888-761-6702.

If your questions concern a particular insurance benefit including the Tuition Insurance of Identity Theft Protection and Resolution Services offered to College Parents of America members please call Next Generation Insurance Group at 877-556-3984.

What is the Tuition Insurance?

The coverage provided as part of membership in College Parents of America is triggered when a covered member suffers a loss as a result of medical withdrawal, including loss of life as a result thereof, that causes the member to withdraw from the accredited educational institution they are attending.  The loss is calculated as the non-refunded eligible tuition, academic fees and room and board that are not refunded to the enrolled member.

How is the tuition insurance benefit level determined?

The actual refund benefit is paid based upon the actual loss of non-refunded tuition, academic fees, and room and board. 

• 100% of a verified medical withdrawal – as a result of a medical "disability" withdrawal of "covered fees"
• 75% of Medical "disability" withdrawal due to emotional, nervous or mental disorders
• 100% of a Death of the "tuition payer" of "covered fees".
• 0% for Voluntary Withdrawal

What is the benefit of the Tuition Insurance?

The benefit paid will be the "non-reimbursed portion of tuition" which means up to 100% of the paid tuition, academic fees and room and board for the term of classes less any refund or credit due the covered student from the accredited education institution.

The benefit covers non-refunded fees payable to the accredited educational institution. The benefit does not include travel, transportation, social fees or other non-school sponsored fees.

When will I receive an insurance certificate for the Tuition Insurance?

Standard members will receive a certificate of insurance in their fulfillment  kit and affiliate members can download the certificate directly from our website or receive it from your sponsoring organization. The Tuition Insurance is in force as long as you are a paid or sponsored member of College Parents of America.

Are there exclusions from the benefit coverage from the Tuition Insurance offered by College Parents of America?

Yes, there are exclusions that apply to the Tuition Insurance.

Tuition Insurance does not cover medical expenses of any kind. Specifically excluded from coverage are losses that are a result of Voluntary Withdrawals.

Additional exclusions are as follows: 1) "loss" which first occurred before the "covered person's" "period of coverage"; 2) Failure to attend classes or sessions for any reason; 3) achange in a "covered person's" enrollment status, for example, changing from residentstudent to day student, or reduction innumber of classes.  4) early graduation or early completion ofclasses; 5) War, including undeclared or civil war;warlike action by a military force, includingaction in hindering or defending against anactual or expected attack, by any government,sovereign or other authority usingmilitary personnel or other agents; orinsurrection, rebellion, revolution, usurpedpower or action taken by governmentalauthority in hindering or defending againstany of these; 6) Fear of contagious disease or epidemic except as stated in SECTION II of the policy; 7) Induction or draft into the armed forces. 8) Catastrophic events other than terrorism of any kind that result in partial or complete closure of your institution. 9. Seizure or destruction of property by orderof governmental authority which results inpartial or complete closure of yourinstitution;10. Dishonest acts committed by you or anyone employed by you whether acting alone or in collusion with others.  

Coverage benefits  are also excluded if the loss is a result of the use of narcotics, medication or hallucinogen unless prescribed by a physician or intentional self-inflicted injury.

How is the Tuition Insurance included in College Parents of America membership different from other tuition insurance plans?

The Tuition Insurance is unique in its scope of coverage where the benefit coverage extends beyond just tuition insurance payments. The Tuition Insurance is designed to cover the non-refunded loss which includes the total cost of attendance such as academic fees, room and board and other academic charges.

• Tuition Insurance is available for full-time students enrolled at accredited college, university or trade schools.
• The plan is available at two-year, four-year and graduate schools and trade schools. 
• The plan is available in all 50 states and District of Columbia and enrollment for the coverage may occur at any time during the semester.

Most other tuition refund plans require the student or parent to purchase an amount based on a full year of tuition in advance.  These school sponsored plans are generally only available prior to the start of each academic semester.

The Tuition Insurance Plan benefit extends to the entire household.  Therefore, the benefit coverage extends to both multiple students who may be enrolled in an accredited institution.

College Parents of America members receive the Tuition Insurance coverage as part of a blanket policy issued by Markel.  In this case, College Parents of America serves as the plan sponsor or policyholder. College Parents of America, founded in 1997, is the nations only organization designed to serve the needs of current and future college parents. 

Member’s of College Parents of America may also elect additional benefit coverage levels up to $25,000 per semester or $50,000 annual benefit level through www.GradGuard.com.

What benefit limit should you choose?

The base membership of College Parents of America includes $2,500 per semester and $5,000 annual benefit protection.  If you your estimated cost of attendance is greater than are greater than $5,000 annually, then additional coverage should be considered.

The 2009 Trends In College Pricing by the College Board, estimates that the cost of attendance for the average in-state public student is $15,213, inclusive of tuition, fees and room and board; $35,636 for the average private college education.

How does the Tuition Insurance work?

Tuition Insurance benefit limit applies per semester of classes.

For example:

How is a claim made?

The member household of College Parents of America must file a written proof of loss within 90 days of such loss. The claim shall include written documentation that the student has been granted a medical withdrawal for the remainder of the semester or term of classes due to injury, sickness or death of a tuition payer (parent or student).  Signed documentation has to be received from an official of the school as well as a licensed medical doctor.

How do I get a claim form?

You can download a claim form (PDF) by clicking here: www.collegeparents.org/files/tuitionrefundclaim.pdf

Who is the Insurance Company?

Markel Insurance, AM Best Rating: "A" Excellent for financial strength and stability. The agent is Next Generation Insurance Group, LLC.