Tom Prideaux has built a nice business specializing in the “college cost challenge.” He has found that most families have no clue how to address that need, and therein lies a gold-plated opportunity for the financial professional.

“Studies show that for the majority of parents of college-bound students, financing their child’s college education is their No. 1 concern,” he says. “Each year, millions of students go to college, and the advisor who can answer questions, ease their mind and offer solutions suddenly becomes a hero. That prospect who was once a distant lead for life, annuities and retirement planning is now anxious and excited to meet with an agent who can help with this problem.”

Editor’s Note: The preceding tip was taken from “College Costs, Meet Your Master,” a Producer Profile of Tom Prideaux, that ran in the February 2009 issue of Life Insurance Selling. To read the full article, click here.

To read last week’s Tip of the Week, click here.

For more advice on helping with college costs, see:

Indexed universal life as a college-funding strategy

College Funding: Life Insurance vs. 529 Plans

What’s Going On: College Savings: A Need Whose Time Has Come