Insurance companies are increasingly marketing permanent life insurance policies as a way for parents to save for their children's college educations, but some experts say such plans can carry high premiums and fees. The products involve standard life insurance combined with an investment vehicle that parents can use as loan for college costs or other expenses. The plans provide extra services, such as assistance with audits, said LIFE Foundation CEO Marvin Feldman. Advisers, however, said parents can buy term insurance and invest elsewhere for college.

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