LIFEBRIDGE PARENT LIFE INSURANCE
LifeBridge is a free life insurance program sponsored by Massachusetts Mutual Life Insurance Company (MassMutual). LifeBridge offers free 10-year term life insurance policies to eligible parents. In the event that an insured parent or legal guardian passes away during the term of the policy, a $50,000 life insurance benefit would be paid into a trust administered by the MassMutual Trust Co., FSB, a wholly owned stock subsidiary of MassMutual, and used exclusively toward the educational expenses of his or her eligible children. There is no cost to the insured; MassMutual pays the premiums. Advisors donate their time; no commissions are paid.
To apply, parents or guardians need to be:
- Between the ages of 19 and 42
- The parent or legal guardian of at least one dependent child under the age of 18
- Currently employed (full or part-time) with a total family income not less than $10,000 or more than $40,000 annually
- A permanent, legal resident of the United States
- The only member of the household who has applied for LifeBridge
- In good health as determined by MassMutual’s underwriting guidelines
Parents and guardians are not eligible to apply if they:
- Have been diagnosed with heart disease, cancer, HIV or Type 1 Diabetes
- Currently abuse drugs or alcohol or have abused them within the last 10 years
- Are currently on parole or probation