Compare Florida Prepaid College Savings Accounts

Compare College Savings Plans

It's important to understand the difference between a Life-Benefits account, Florida Prepaid and 529 plans. One of the biggest differences is that Life-Benefits can be used for any purpose. This gives children the freedom to pursue the right path after high school without penalty. Additionally, the Life-Benefits account will not lose value when the market fluctuates. We've put together this side-by-side comparison to help explain it in more detail. 
 

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  Life-Benefits Florida 529 Education Savings Plan Florida Prepaid Tuition College Plan
Guaranteed not to lose value with the stock market Yes! Fluctuates with the Market Yes.
Money may be used for any purpose Yes! May only be used for college expenses. May only be used for college expenses.
Provides life insurance protection Yes! No. No.
Possibility of a tax-free retirement account Yes! No. No.
How much do you pay? Plans are created to fit within your monthly budget. Initial minimum investment required; contributions are generally limited to amount needed to pay five years of tuition. Payments may flex depending on what you can afford. Not flexible, consistent monthly payments throughout the life of the plan.
Points to consider Life-Benefits is the only child savings plan that covers college expenses, adult life insurance and a tax-free retirement account.

Plus, our advisors provide one-on-one personalized attention to help setup the right plan for your child.
The 529 plan does not guarantee to actually cover the current college costs. It is simply a savings account for college. If your plan is canceled, you only get your original investment back, without any growth or interest.

Guarantees are backed by the claims paying ability of the life insurer best selected at time of plan commencement.

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Learn how $200 a month can fund your child's college education and much more.