Life Insurance, for FREE?!

Stupid Carrier Tricks ™ are a virtual staple here at IB, so when a carrier actually does something right, it’s only fair to recognize that, as well:

“MassMutual…is introducing the program, which provides $50,000 in free life insurance for eligible parents and legal guardians, in the Sarasota, Fla., area.”

Apparently, MM introduced LifeBridge about 4 years ago, in an effort to help “the working poor” with life insurance protection. Eligible families can opt to insure either Mom or Dad (but not both), with $50,000 of term life insurance, at no cost.

I like the fact that, to qualify, both parents must be permanent, legal residents of the US. They must also be working, and bringing home between $10k to $40k a year.

Another unique aspect of the plan is that it doesn’t pay a benefit to the kids (or surviving spouse); rather it’s a scholarship (of sorts) that’s paid directly to the childrens’ school.

Oh, and it’s not just Florida, either:

“The company is bringing its LifeBridge Free Life Insurance Program to the Tucson, Arizona area. MassMutual's LifeBridge is a national philanthropic program in which the company issues 10-year term life insurance policies to eligible working parents to help pay for the cost of their children's education in the event they die.”

Kudos to MassMutual!