College, Kids, and Coverage: Planning for the Future They Deserve
“For I know the plans I have for you, declares the Lord, plans to prosper you and not to harm you, plans to give you a hope and a future.” — Jeremiah 29:11
That verse is one of the most quoted scriptures in modern Christianity. And I think about it often in my work, because it reminds me of something: God’s plan for your children includes a future. Our job as parents is to steward that future as well as we possibly can.
Today I want to talk about a gap that most parents don’t think about until it’s too late.
The College Dream and the Missing Plan
If you have children, you probably have some version of a college vision for them. Maybe it’s a specific school. Maybe it’s just the idea of higher education, trade school, or giving them options you didn’t have.
Most parents who think about college funding think about 529 plans, savings accounts, maybe some investments. What almost no one thinks about is: what happens to the college fund if I’m not here to contribute to it?
A 529 doesn’t fund itself. Savings accounts don’t make deposits on their own. If you’re the primary earner and something happens to you, the college plan evaporates with your income.
Life Insurance Fills the Gap
This is one of the most practical uses of life insurance that families often overlook. When you calculate how much coverage you need, your children’s education should be part of that number.
Here’s what the math can look like: if you have two children you plan to support through college, and the average 4-year cost is $80,000-$120,000 per child, that’s a $160,000-$240,000 gap that your life insurance should account for. On top of income replacement. On top of mortgage payoff. On top of debt coverage.
Most workplace life insurance plans of 1-2x salary don’t come anywhere close to covering all of that. Which is why having your own personal policy — sized to your real life — matters so much.
The Gift of Options
Beyond term life insurance for income replacement, some parents use whole life policies on their children as education funding vehicles. A policy started when a child is young builds cash value over 18 years that can be borrowed against for education — tax-advantaged — without the restrictions of a 529.
And if your child doesn’t go to college? The cash value is still there. The coverage is still there. The financial foundation you built for them is still there — ready to help with whatever future they actually choose.
Run the Real Numbers
I encourage every parent I work with to use our coverage calculator to actually see what their family needs. Not a guess. Not a rule of thumb. Their actual number, based on their income, their mortgage, their debt, and their goals for their children.
Most parents are surprised. And then they’re motivated. Because once you see the real gap, closing it feels urgent in the best possible way.
Calculate your family’s real coverage need → | Book a conversation about your kids’ future →
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A free 30-minute conversation with Jacquelyn can show you exactly what your family needs and what it costs. No pressure — just clarity.
