MassMutual, one of the largest life insurance companies in the world, is offering $50,000 worth of free life insurance to working families with children.
Called the Lifebridge program, the 10-year term life policy is issued in the name of one parent or guardian. If that parent dies during the term, the money is placed in a trust to be used for the education of the children. Covered expenses include books, tuition, fees, and room and board. The types of schools covered include pre-school, private school, trade school or college. The children have until 10 years after the death of a parent or until they are age 35 — whichever is later — to use the money.MassMutual introduced the program in 2002 because many low-income families need life insurance, but can’t afford it...Read More