What is school insurance and what does it cover?

The course is over, but with almost no continuity solution we are already thinking about the next one. Books, uniforms, tuition, … every time we incur before, in the summer months, the expenses for training that usually begins in September and October. An economic difficulty increases exponentially according to the number of children in charge.

Extracurricular activities or dining


It is no longer just the tuition, books, school supplies, uniform and clothing, we also add transportation costs, extracurricular activities or dining. For many, all these expenses have been established as ordinary expenses. A classification that, despite including them in everyday life, does not stop making a dent in the pockets of the heads of the family.

To guarantee these expenses in case of a serious family misfortune, especially the death of any of the heads of household, there are school insurance , which in its modality, voluntary or compulsory, covers a series of contingencies. We explain it, as well as its pros and cons.

Voluntary school insurance

For students, from early childhood education and up to 3rd of the ABC, the school insurance that is usually offered is the continuity of studies insurance. This insurance is voluntary but most private and concerted schools include it at the time of payment of the tuition, although you can also hire it voluntarily.

Its purpose is to cover with capital in the event of an eventual loss resulting from the death or disability of the parents, until the end of the studies. Among its main advantages is its apparent low price, but if we compare cost and benefits it is not so much.

Compulsory school insurance

Compulsory school insurance

But once the insurance of continuity of studies comes to an end, or always when they reach 15 years in all cases, from 3º ABC, the figure of compulsory school insurance appears. This insurance protects students, under 28 years of age, who take official studies from the 3rd year of the ABC, until the end of the third university cycle.

But unlike continuity insurance, coverage is more varied. On the one hand, it has health benefits in case of illness or school accident (medical, pharmaceutical assistance), economic in case of the insured’s misfortune (burial expenses) and financial compensation in case of death or disability of any head of household or family ruin .

The cost is very low, 1.12 euros and, therefore, the coverages are also: Between 86.54 euros and 129.82 euros that will be paid during the number of years left to the beneficiary to finish normally and without repeating course .

Is it worth it against life insurance?

Is it worth it against life insurance?

The coverage of compulsory school insurance, as we have indicated, is minimal, it can hardly cover a small part of the studies. In the case of continuity insurance , although it is higher (as is the premium paid), it does not imply a very high payment in capital.

In addition, the amount has a very short-term objective that in many cases is insufficient. For example, the needs of a student who is finishing his university career are very different than another who is taking a first course, and therefore needs many more financial resources.

For all this, life insurance, with which you can modify the capital you will receive and adapt it to your needs with total flexibility is a much more complete response. Always analyze what it is that offers you a continuity insurance and its price to find the best option with which you have total peace of mind so that yours are guaranteed something as precious and important as their training.

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