TRUSTED CHOICESM AGENTS OFFER COLLEGE GRADS HELP, ADVICE ON INSURANCE
New Grads Often Dealing With Insurance Needs for the First Time
ALEXANDRIA, VA, May 26 - As college graduates celebrate their achievement and launch their careers this spring, many don’t realize that they have other important financial decisions to consider in addition to securing employment.
These graduates, who are embarking on a completely independent life for the first time, may be at serious financial risk by not having the proper insurance coverages.
U.S. Census figures show that young adults account for 30 percent of the nation’s estimated 44 million people without health insurance even though they represent only 15 percent of the total population. Without health insurance and other insurance coverages, new grads with modest incomes risk not having access to medical care and may suffer significant financial hardship when they must seek medical services.
Many young adults are not aware of how their health insurance needs change after graduation. New high school graduates older than age 18who are not enrolled in school full-time, in most cases, will no longer be eligible for coverage under a parent’s health insurance. While full-time college students may retain coverage under their parents’ plan, in most cases, upon turning age 22, they will lose that coverage, regardless of educational status.
To help avoid these types of situations and to educate recent college grads on insurance, Trusted ChoiceSM agents are offering The Trusted ChoiceSM Graduate’s Guide to Insurance. The free guide, available at www.TrustedChoice.com, helps graduates by answering their most basic questions about insurance.
The useful, easy-to-use guide addresses questions like:
- What is insurance and what kinds are there?
- How do you decide which kinds of insurance you should buy?
- What kinds of insurance can you do without?
The Trusted ChoiceSM Graduate’s Guide to Insurance offers helpful and practical information on health insurance options, auto insurance, renters and homeowners insurance, and addresses changes young adults will experience when they get married, become parents or start businesses.
“While in school, students don’t think about health insurance and other insurance coverages because it’s something that is usually provided by their parents,” says Madelyn Flannagan, spokesperson for Trusted ChoiceSM.
Separately, a study published last year by the Commonwealth Fund found that 19-to-29 year olds represent one of the biggest and fastest-growing segments of those without health insurance.
“Now that grads are in control of their own lives and their own finances, they need to understand that insurance is their major protection against financial ruin,” says Flannagan. “For instance, going without health insurance should not be an option. Without health insurance, medical care can cost thousands of dollars in certain situations and place an unanticipated strain on a young adult who is newly on his or her own.”
While the guide addresses the most common questions about insurance, a Trusted ChoiceSM agent can answer specific questions and help graduates secure the necessary coverages they will need for their individual situations.
Go to www.iiaa.org/TC/Consumer/Business/graduatesguidebusiness.htm to download a copy of The Trusted ChoiceSM Graduate’s Independent Guide to Insurance or for more information on insurance coverages and the latest consumer information on numerous insurance topics.
Trusted ChoiceSM is the smart way to buy insurance and financial services. Trusted ChoiceSM agents represent multiple insurance companies, so they offer you a variety of coverage choices and can customize a plan to meet your specialized needs. Most importantly, a Trusted ChoiceSM agent isn’t an employee of an insurance company, so you have someone who works for you.
Go to www.TrustedChoice.com and click on “Find a Trusted ChoiceSM Agency” to find the right agency for your needs.
For more information on the Commonwealth Fund study and the U.S. Census figures, please visit http://www.cmwf.org/ and http://www.census.gov/.
###