PROGRAM STATISTICS

  • LifeBridge was introduced in the Fall of 2002. We have successfully rolled the program out nationwide.
  • LifeBridge is available in all states plus the District of Columbia.
  • Currently, Massachusetts Mutual Life Insurance Company (MassMutual) has approved over13,600 policies nationally as of 6/15/15, which is more than $680 millionin free life insurance coverage.
  • To date, there have been twenty-eightclaims.

PHILANTHROPIC FOCUS

MassMutual recognizes the value of balancing business interests with corporate citizenship. We’ve been fortunate to succeed for over 160 years, and we feel a keen responsibility to give back to the communities that have long supported us.

  • MassMutual supports many community based organizations and causes through the generosity of our employees and agents, a variety of volunteer efforts and our charitable contributions and scholarships,which totaled more than $10 million in 2014.
  • With LifeBridge, we identified a way to tie one of our philanthropic focuses -- education -- with our primary product -- life insurance.

We realize that ALL of our children are the future of our country, and not just those who have the financial means to get an education. By providing a life insurance benefit to use for educational expenses of surviving children, LifeBridge policies provide children with the opportunity to get an education if an insured parent dies during the term of the policy.

NATIONALLY, MassMutual’s aim is to give away $1 billion (face amount) of term life insurance.

  • LifeBridge acknowledges that many of the people who value life insurance MOST are often those who can LEAST afford it.
  • Many of our career agents have enthusiastically donated their time and services to the program. They view LifeBridge as an extension of the time they already donate to their communities. There is no commission on any LifeBridge policies written.

HOW THE PROGRAM WORKS

Under the LifeBridge Program, an eligible parent or legal guardian will have a $50,000, 10 year term life insurance policy issued on their life. MassMutual pays the premiums.

  • If a covered parent or legal guardian dies during the policy term, the money goes directly to a trust fund, managed by The MassMutual Trust Company, FSB, a wholly owned stock subsidiary of MassMutual, to pay for the educational expenses of the child(ren).

Covered expenses include books, tuition, fees, and room and board. The types of schools covered include pre-school, private school, trade school or college.

  • We have teamed up with several community-based organizations that serve people who we believe are eligible for the program. We are also working with employers and faith based organizations to help identify qualified applicants.
  • Eligibility criteria include the following. Applicants must be:
  • Between the ages of 19-42;
  • The legal guardian of one or more dependent children under age 18;
  • Currently employed –either full or part time -- and have a total family income of between $10,000 and $40,000 annually;
  • A permanent, legal resident of the U.S.; and
  • In good health as determined by MassMutual’s underwriting guidelines (as with all life insurance policies).
  • People should bring the following to the application meeting:
  • A copy of their last 1040 or 1040A (used to confirm income)
  • A recent pay stub (used to confirm working status)
  • Social Security numbers of children/dependents under the age of 18
  • Proper identification (photo ID, driver’s license, green card, etc.)
  • The children have until age 35 to use the benefit. If the money is NOT used by the children after the parent’s death, it is donated to one of five scholarship programs pre-selected by the parents:
  • United NegroCollege Fund
  • Hispanic Scholarship Fund
  • National Achievers Society Scholarship Fund (an Urban League fund)
  • The Achievement Foundation Scholarship Fund
  • Community Foundation of Western Massachusetts
FOR MORE INFORMATION

People who are interested in the LifeBridgeProgram should contactCindie St. George, LifeBridge/Community Responsibility,MassMutual at1-800-767-1000 ext. 45031 or via e-mail at .

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