Coventry announces new student loan repayment scheme for employees

FORT WASHINGTON, Pa., February 9, 2022 /PRNewswire/ — Coventry, a leading insurtech company and the country’s largest purchaser of life insurance policies, today announced the launch of a new scheme to help employees repay their student loans.

Under the scheme, Coventry will match $2,500 per eligible employee per year in student loan payments, allowing employees to repay their loans faster. Payments are tax-exempt for employees under the CARES Act.

“We are continually looking for ways to improve the benefits that help make Coventry a great place to work. Student loans place a heavy financial burden on the lives of some of our employees,” said Reid Burger, CEO of Coventry. “We created this program to relieve our team of student debt and help them build a more stable financial future.”

According to data reported to US News in its annual survey, college graduates in the Class of 2020 with student loan debt borrowed on average $29,927. This represents a 20% increase in the amount borrowed by Class of 2010 students.

About Coventry

Coventry created the life insurance market and continues to drive market growth. Our deep experience in life insurance and specialty finance, combined with a fierce commitment to consumer rights, makes us the undisputed market leader – a position we use to continually raise industry standards, promote strong regulation and expand consumer choice. To find out more about Coventry, please visit www.coventry.com.

SOURCECoventry

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