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June 24, 2009 at 08:00 PM
Massachusetts Mutual Life Insurance Company has introduced new rules for life insurance applications that it says would benefit foreign-born populations, including America’s growing Asian and Latin American residents.
MassMutual, Springfield, Mass., says it has changed life insurance eligibility rules to address the needs of America’s multicultural groups. Its new guidelines ease rules governing coverage of applicants travelling to several parts of the world, especially Latin America and Asia, the company says.
“We know that a growing number of this country’s residents come from and frequently travel back to countries in Asia and Latin America,” said Shelby Hollister, vice president and chief underwriter for MassMutual’s U.S. Insurance Group.
The updated guidelines allow coverage for individuals who travel for up to 12 weeks for vacations, family visits and business in 16 Asian and 8 Latin American countries, in addition to 20 more worldwide.
