NEWARK, Del.–(BUSINESS WIRE)– Sallie Mae, the nation’s No. 1 financial services company specializing in education, today announced that new insurance products designed to help families protect their investment in higher education are now available at SallieMae.com.
As college campuses around the country begin their second term, the online launch of Sallie Mae Insurance Services offers America’s college students, young adults and their parents access to tuition, renters, health, travel, auto and life insurance to address the life-stage risks students and college graduates may face.
“This portfolio of products allows students and their parents to protect their investment in education, which is one of the most significant life investments,” said Charlie Rocha, senior vice president, Sallie Mae. “Families now have convenient online access to a variety of insurance offerings designed to give students and new college graduates peace of mind as they complete their degrees and begin their careers.”
Sallie Mae Insurance Services provides insurance programs to consumers, working in partnership with first-class insurance underwriters. Sallie Mae also provides colleges and universities access to specially designed insurance products, such as the Student Protection Plan™, a package featuring tuition insurance and also ID theft protection, emergency medical evacuation insurance and other services to meet the needs of a typical college student.
Sallie Mae Insurances Services is the latest example of the safeguards Sallie Mae offers to families paying for college. In 2009, the company introduced its Smart Option Student Loan, which offers in-school payment plans to help students graduate with less debt. The company was also the first national lender to provide loan forgiveness for cosigners of its Smart Option Student Loan in the tragic circumstance of the death or permanent disability of the primary borrower. For private loans originated during back-to-school season last fall, Sallie Mae added a new Tuition Insurance Benefit that covered 100 percent of lost education costs up to $2,500 per semester if a student is unable to complete the 2011-12 academic term due to eligible medical and mental health reasons.
Sallie Mae (NASDAQ: SLM – News) is the nation’s No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for its 25 million customers. With products and services that include college savings programs, scholarship search tools, education loans, tuition insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Sallie Mae Insurance Services is a strategic initiative between Sallie Mae and Next Generation Insurance LLC, the licensed agent for all insurance programs.