Colva Insurance Services was founded by a former teacher turned actuary who was fortunate enough to receive an education from some of the best schools in America. Unfortunately, not everyone in America is fortuitous enough to receive these same opportunities. Colva Insurance Services is committed to helping to change this.
Like most life insurance agencies, Colva receives anywhere from 50% to 100% of the first year premium that the policyholder pays to the insurance carrier as a commission for transacting the sale. To further our goal of providing educational opportunities to those who need it the most, Colva is actively donating 50% of all gross first year commissions it receives from sales of life insurance policies to schools that better the education of San Diego’s youth. Since the first year premium for a life insurance policy can range from a couple hundred dollars a year to a couple thousand dollars a year depending on the age, health, and face amount that the applicant is requesting, choosing to purchase an insurance policy through Colva can potentially provide $1000s to San Diego schools.
Example of How the Educate Our Youth Program works
John Williams is a 45 year old married father of 3 small kids ages 5, 3, and 6 months and has $150,000 left on his house loan. John wants to protect his family and provide for his children’s college expenses in case he were to pass away unexpectedly. John decides to purchase a 20 year term policy through Colva Insurance Services with a face amount of $250,000 and a yearly premium of $500. About thirty days after the insurance carrier receives John’s first year premium, Colva receives 80% of the first year premium ($400) as a commission for the sale. Colva donates 50% of this commission ($200) to the partnered school(s) of the month. The first installment ($100) will be sent thirty days after Colva receives the first year commission. The second installment will be sent thirty days after the insurance carrier receives the premium for the second year of the policy. If John sends both the first year premium and second year premium to the carrier at the same time, Colva will donate the second installment to the partnered school(s) at the same time as the first installment.
Current Partners of the Month
- The Preuss School, a charter school in San Diego that takes students from low-income backgrounds across San Diego and provides them with a rigorous college preparatory curriculum. The Class of 2011 had a 95% acceptance rate into four-year colleges.
Future Partners of the Month
Colva is always seeking more partners for its Educate Our Youth Program. Contact us at educateouryouth@colvaservices.com to learn how you can add your school to the list of recipients of Colva’s Educate Our Youth Program.
Since December 2011, we’ve helped to donate and raise over $5,000 for our partnered school. In 2012 we hope to do the same for other local San Diego schools. By purchasing a life insurance policy from Colva, you’re not only receiving unparalleled actuarial and insurance expertise; you’re also helping better the lives of our youth.