Agent Owned Insurance Group, LLC   

The main reason for buying life insuranc is to provide a death benefit to your loved ones.  The death benefit can help replace your income and cover final expenses, should the unforeseen occur.
The death benefit proceeds could also be used to pay for the costs of a college eduction.  But did you know that some policies offer "living benefits"(features and riders) too?
One of these valuable benefits is cash value accumulation potential. As you pay premium into your policy, your policy builds cash value.  Later, you can access your cash value through policy loans or withdrawals for anything you choose.1 Keep in mind that fees, expenses and cost of insurance reduce cash value.
That is why some people include life insurance as part of their overall financial strategy and access the cash value for financial needs such as supplementing college funding.

Overview -Supplemental college funding can be provided by utilizing the cash value accumulation in the policy, accessing policy loans.

If the insured dies - Death benefit is passed income-tax free to the beneficiaries(can be used for college funding).

Underwriting - Most life insurance policies require health underwriting, in some cases, financial underwriting.

Premiums - There are limits on how much premuim you can pay for your policy (without creating a modified endowment contract or MEC) - in relation to the amount of your death benefit - without losing favorable tax treatment on loans you may take from your policy.

Taxation of policy loans -Income-tax-free1 Policy loans will reduce available cash values and death benefits and may cause the policy to lapse, or affect guarantees against lapse. Additional premium may be required to prevent the policy from lapsing.

Value for State Education Financial Needs Analysis - Currently excluded (can vary by college and is subject to change)

Access to cash value - Cash value can be used tp supplement to cost of college, but it can also be used for other financial needs, providing added flexibility if the child does not go to college.
Fees and expenses - Premium charges, cost of insurance, monthly deductions, an asset-based charge and surrender charges may apply. 2

Estate Planning - Included in the estate if the insured parent owns the policy.

Gifting - No gift tax consequences when the insured parent owns the policy.