NU Online News Service, Oct. 13, 2004, 5:30 p.m. EDT
Massachusetts Mutual Life Insurance Company, Springfield, Mass., is including New Orleans in a program that provides $50,000 in free term life insurance for working parents in eligible communities.[@@]
The program supplies 10-year, level-term life insurance coverage for working parents between the ages of 19 and 42. Children of participating parents who die can use the proceeds to pay for almost any kind of formal schooling, including pre-school, elementary school, high school, vocational school, college and graduate school, MassMutual says.
MassMutual started offering the LifeBridge program in Connecticut in late 2002.
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To qualify for the free coverage, parents must be permanent, legal U.S. residents in good health.
The parents must be working and show annual family incomes of $10,000 to $40,000 on their latest tax returns.