One organization is looking to help young students whose parents passed away and didn't leave a life insurance policy achieve their dream of attending college.
According to the LIFE Foundation, some parents may pass away prematurely and without having purchased a life insurance policy to protect their family's financial future. This can make it difficult for surviving children to afford higher education, putting their own future at risk. The organization has sponsored the LIFE Lessons Scholarship Program, which will provide funds to several students so that they can attend college.
Students can apply for the grants through essay submitted to the organization's website. The essays share their stories with the struggles they've endured without the financial support life insurance would provide.
"The stories of these young people are a powerful reminder that you can't take for granted that tomorrow will come, and that it's important to consider how your family would manage financially in your absence," said Marvin H. Feldman, president and CEO of the LIFE Foundation.
A term life insurance policy can step in as an income replacement for parents hoping to send their children to college.