MassMutual to Award $1 Billion in Free Life Insurance Coverage MassMutual News Release (09/16/02)
The MassMutual Financial Group has introduced a completely free life insurance program that is designed specifically to help children who might otherwise be deprived of an education if their parent passes away. Under the new LifeBridge Free Life Insurance Program, Massachusetts Mutual Life Insurance Company will provide up to a total of $1 billion in term life insurance coverage to help qualified parents protect their children's education. MassMutual pays the premiums for all policies under the LifeBridge Free Life Insurance Program. If an insured parent dies during the 10-year term of the policy, the death benefit will be applied solely toward the education of the parent's eligible children to help cover school expenses. The program is geared toward people having a difficult time making financial ends meet.