Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Program Offers Free Term Life For Houston Parents

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Feb. 3, 2005, 3:31 p.m. EST

Massachusetts Mutual Life Insurance Company, Springfield, Mass., is adding another city to its LifeBridge initiative.[@@]

MassMutual is introducing the program, which provides $50,000 in free life insurance for eligible parents, in Houston.

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 the program in late 2002 and since then has given away about 3,000 free life insurance policies.

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.

Legal guardians who meet the eligibility requirements also can apply for coverage.

Benefits will be paid to a trust administered by the MassMutual Trust Company F.S.B. on behalf of the children. The trust will make payments directly to the schools the children attend, MassMutual says.

J.K. McAndrews, a MassMutual agent in Houston, and other agency staff members are running the Houston section of the program.

Parents who want information about the program can call Susan Tasson at (713) 402-3832.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.