What if an account owner dies before the installments on a contract are fully paid?
The Florida Prepaid College Plan offers a group term life insurance on the life of the account owner, survivor and/or the student (beneficiary) through the Fidelity Security Life Insurance Company. Please call 1-800-552-GRAD (4723), prompt 4, for additional information. If an uninsured account owner dies before the contract is paid in full, and if no provision has been made for contract payment, then the survivor or another individual will be required to make payments to maintain the contract. If no payments are received, the contract will be involuntarily terminated; a refund for the money paid into the plan is available.
