Local Organizations and MassMutual Announce the Opportunity for Parents in Greensboro Apply for Free Life Insurance
GREENSBORO, N.C. – Massachusetts Mutual Life Insurance Company (MassMutual) is teaming up with the Greensboro Chapter of the NAACP, Greensboro Pulpit Forum and Vicinity to provide free $50,000 term life insurance policies to benefit children of working families throughout the Greensboro area. MassMutual pays all insurance premiums on the policies as part of the company’s philanthropic LifeBridge program. Eligible parents and legal guardians may apply for this coverage during a public event:
Date: Saturday, July 14, 2018
Time: 10:00 am – 2:00 pm
Location: Willow Oaks Community Center 1815 Everett Street, Greensboro
Eligible applicants should call 336-370-3100 to schedule their 15 minute appointment. Appointments are preferred. Additional detail about eligibility is included below.
“LifeBridge is a unique and important program that will help many families provide an education safety net for their children,” said Gerard Blue, Financial Services Representative, MassMutual Carolinas, a general agency of MassMutual. “We want to give parents peace of mind through LifeBridge so that if something were to happen to them, their children could still afford a college degree, tutoring or even pre-school.”
MassMutual expects to issue a total of $1 billion in free term life insurance coverage through LifeBridge, its national philanthropic free life insurance program. MassMutual agents donate their time and services to help people apply for LifeBridge insurance coverage; agents receive no commission and MassMutual pays all the life insurance premiums. There is no cost to the insured or their children.
Parents and legal guardians between the ages of 19 and 42 may apply for this insurance coverage. They must have one or more dependent children under the age of 18, be working full or part-time with a total family income of between $10,000 and $40,000, and be permanent, legal residents of the U.S. They also must be in good health, as determined by MassMutual’s underwriting guidelines.
If an insured parent or guardian dies during the 10-year policy term, MassMutual will deposit the $50,000 face amount into a trust administered by The MassMutual Trust Co., FSB, a wholly owned stock subsidiary of MassMutual, on behalf of the children. The trust will pay the educational expenses of the children directly to the educational institution they attend. The money can be used to help pay for educational expenses such as books, tuition, fees and campus room and board. The types of schools covered include pre-school, private school, trade school, colleges, universities, art, music and graduate schools.
MassMutual is a leading mutual life insurance company that that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.