PHILADELPHIA, March 30 /PRNewswire/ -- The MassMutual Financial Group is
working with the Girl Scouts of Southeastern Pennsylvania to bring a totally
free term life insurance program to working parents in Pennsylvania. Under
the LifeBridge Free Life Insurance Program(SM), qualifying working parents
will each receive a $50,000 free life insurance policy to help pay for the
education of their children, who -- in the event of a parent's death during
the policy's term -- may not be able to afford to complete their schooling.
The Massachusetts Mutual Life Insurance Company (MassMutual), one of the
nation's largest life insurance companies and 84 on the Fortune 100 list,
plans to give away $1 billion of free life insurance nationally to people who
are working and having a difficult time making ends meet. Under the
LifeBridge program, MassMutual will pay the premiums for 20,000 term life
insurance policies, each with a $50,000 death benefit.
Two MassMutual agents, Veronica Strauss and Pamela Holland-Townsend, are
donating their time at the Girl Scouts Looking Good Feeling Good program on
Saturday, April 2, to help with the LifeBridge application process. The event
will occur at Central High School, Ogontz and Olney Avenue, from 9:00 a.m. -
2:30 p.m.
"We're delighted to extend this program to our region," said Harris
Fishman, General Agent of the First Financial Group, which is offering the
program locally. "Experience tells us that some of the people who believe
most fervently in the protection that life insurance offers are often those
who can least afford it. We want to create a level playing field for children
who might otherwise be deprived of an education if their parent dies during
the term of the policy," he added.
"We're trying to ensure that access to educational opportunities exists
for children of working families and not just those who are lucky enough to
have parents with adequate financial means," Fishman said. "There is
absolutely no cost to the insured for a policy under the LifeBridge program."
To be eligible to apply for a term life insurance policy under the
LifeBridge(SM) program, applicants must meet all criteria for acceptance into
the program. These criteria include, but are not limited to, the following:
* Between the ages of 19-42 (inclusive);
* A permanent, legal U.S. resident;
* The parent or legal guardian of one or more dependent children under
the age of 18;
* Currently employed -- either full- or part-time -- and have a family
income of between $10,000 and $40,000 on their most recent income tax
return; and
* In good health, as determined by MassMutual's underwriting guidelines.
Those interested in applying should bring with them their last tax return
form, a recent pay stub, their children's social security numbers and proper
identification.
Each LifeBridge policy has a 10-year policy term. If the insured parent
or legal guardian dies during that time, the $50,000 life insurance benefit
per policy will be applied solely toward the education of the children named
as beneficiaries. The money will be paid to a trust administered by the
MassMutual Trust Company, FSB on behalf of the children. The trust will pay
the educational expenses of the children directly to the educational
institution they attend.
Various types of schools qualify for reimbursement including, but not
limited to, pre-school, private school, vocational school, community college,
universities, art and music schools or graduate schools. Some of the
educational expenses covered include books, tuition, and room and board.
First Financial Group -- since 1886 -- a group of interdependent financial
representatives and strategic alliances with professionals in legal,
accounting and related disciplines, helps people plan, grow and nurture their
money and their wealth. Today's Financial Planning with Yesterday's
Traditions(TM). Harris Fishman is a Registered Principal of MML Investors,
Inc. Securities, Investment Advisory and Financial Planning services offered
through qualified Registered Representatives of MML Investors Services, Inc.,
a MassMutual Subsidiary Member SIPC. Supervisory office: 2 Bala Plaza, Suite
901, Bala Cynwyd, PA 19004 (610) 766-3000
MassMutual Financial Group -- comprised of member companies with over $325
billion in assets under management as of year-end 2004 -- is a global, growth-
oriented, diversified financial services organization providing life
insurance, annuities, disability income insurance, long-term care insurance,
retirement planning products, structured settlement annuities, trust services,
money management, and other financial products.
The MassMutual Financial Group is a marketing designation (or fleet name)
for Massachusetts Mutual Life Insurance Company and its subsidiaries, which
include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Cornerstone
Real Estate Advisers, LLC; MML Investors Services, Inc.; The MassMutual Trust
Company, FSB; Antares Capital Corporation; MML Bay State Life Insurance
Company, C.M. Life Insurance Company, and MassMutual International, Inc.
MassMutual is on the Internet at http://www.massmutual.com.
Contact:
Mark Di Giorgio
(413) 744-7722
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