Tuition Refund
Markel’s Tuition Refund product protects private schools and public/private colleges from the financial consequences
of students’ forced or voluntarily withdrawal from school prior to term completion. Schools are empowered to refund
tuition and fees in the event of tragedy (e.g., death or injury of a student), reversal of fortune (e.g., unemployment of
tuition payer), change in circumstances (e.g. relocation), or even academic/disciplinary dismissal, with the knowledge
that they will be reimbursed properly.
Coverage Options
This program reimburses schools for tuition when a student withdraws for a named reason. This protects the revenue base.
Basic Coverage
- 100% of covered tuition for medically necessary withdrawals, including 75% benefit for mental and nervous disorders.
- 100% of covered tuition for death of a tuition payer
- 100% of covered tuition for death of a student
- 100% of covered tuition for epidemic closure
Optional Benefits
- 75% of covered tuition for involuntary unemployment of tuition payer
- 75% of covered tuition for job transfer of the tuition payer
- 75% of covered tuition for academic dismissal
- 75% of covered tuition for disciplinary dismissal
- 60% of covered tuition for voluntary withdrawal