Aetna to Offer Tuition Refund Insurance for 2012-2013 School Year

HARTFORD, Conn.--(BUSINESS WIRE)--College tuition is a major expense for students and their parents. Unfortunately, significant injury or illness may prevent students from completing a semester. Many schools have a refund policy, but if the injury or illness happens later in the semester, students are at risk of losing tuition for that semester. To help members ensure they will not lose out on their education investment, Aetna (NYSE: AET) Student Health is now offering access to Tuition Refund Insurance at participating colleges and universities.

“With this product, we are offering students the ability to safeguard their tuition when they are medically unable to complete the semester.”

“College tuition can be one of the most expensive investments someone makes in their lifetime, and it is essential to protect that investment,” says Chekesha Kidd, head of Aetna Student Health. “With this product, we are offering students the ability to safeguard their tuition when they are medically unable to complete the semester.”

The Student Protection Plan™ by GradGuard™ provides financial protection if it becomes necessary to withdraw from college due to a medical condition. It refunds 100% of paid tuition, room and board, and other school related expenses up to the limits of the policy.

Besides tuition reimbursement, The Student Protection Plan™ offers four additional benefits:

• Online reputation monitoring: includes customized online name discovery and analysis, reputation assessment and ongoing monitoring, powered by Reputation.com;
• Identity theft protection and resolution: monitors the internet for fraudulent use of up to ten registered credit and debit cards, provides a single and secure registration site for all cards, and offers personalized assistance in fraud resolution for students;
• Computer repair and virus detection: offers students $1,000 of physical damage and $1,000 of computer virus coverage (not available to residents of New York);
• Extended warranty: provides up to five years of extended warranty from date of purchase on new items with continuous membership in The Student Protection Plan™. Eligible items have a purchase price up to $5,000 and include electronics, audio equipment and home appliances. Examples include but are not limited to: DVD/Blu-ray players, digital cameras, coffee makers, toaster ovens, microwaves, refrigerators, humidifiers, and vacuums (not available to residents of Maine).

“These extra protection benefits are tailored specifically to the student demographic,” Kidd said. “By adding The Student Protection Plan™ to our robust suite of student-focused products and services, we hope to reduce the burden on students entering a new school year. It is one more way we are helping students protect themselves from unexpected life events.”

About GradGuard

GradGuard™ is a service of Next Generation Insurance Group, LLC (NGI). Founded by veteran collegiate, affinity and insurance marketing executives, NGI aims to offer protection for college life. For more information, visit www.gradguard.com or call 877-556-3984. GradGuard™ and The Student Protection Plan™ are products of Next Generation Insurance Group, LLC. Tuition Refund Insurance is underwritten by Markel Insurance Company, Glen Allen, VA.

About Aetna

Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 36.7 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services and health information technology services. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.

GradGuard™ and Aetna are independent contractors and not employees or agents of each other.