Life insurance is a proven source of financial security for loved ones after your death. For most people, term life insurance (aka term assurance) is among probably the most affordable packages, as low as a few hundred dollars per year for $250,000 worth of coverage. However at MassMutual Financial Group of Massachusetts, customers can do even better. The business has put free of charge term life insurance on the table, states Bankrate. Source of article – Free term life insurance is available now by MoneyBlogNewz.
Stay healthy to keep free of charge term life insurance
Life insurance experts advise potential customers that if they’re interested in a policy, the time to buy is when you’re young and healthy, as rates is substantially lower. Life insurance is a good choice if you have dependents.
In general, term life insurance provides coverage at a fixed rate for a limited time frame – the term period. Without additional coverage, the coverage expires at the end of a term. If the insured dies mid-term, death benefits are paid to the beneficiary.
MassMutual LifeBridge can help you
The education of children could be funded with MassMutual Financial Group if a policyholder dies. This is $50,000 that could be set aside for free. Bankrate.com states that it is not a truck; MassMutual is not lying. The free insurance coverage is for anyone that meets the qualifications for MassMutual’s LifeBridge program. This is money to help in the future.
The $50,000 is placed in a 10-year trust. During the life insurance term, the policyholder can die while the children will be taken care of. Whether it is college, trade school, pre-school or private school, the child will get the money for tuition, fees, books and room and board. The child has 10 years, or until the child turns 35 years old, to use the money. It depends on which comes later for them.
Free insurance coverage needs
The following are required of everyone doing the MassMutual LifeBridge program:
- Be at least 19 but not older than 42
- Be the parent or legal guardian of one or more dependent children younger than 18
- Be a permanent legal resident of the U.S.
- Be employed full or part time and have a family income between $10,000 and $40,000
- Be the only parent or guardian in your household to apply
- Be in good health in the view of MassMutual underwriters
- Have not been diagnosed with heart disease, cancer, HIV or Type 1 diabetes
- Have not abused drugs or alcohol at any time within the past 10 years
- Are not currently on probation
Tests are required before approval for free insurance. This can be done with blood and urine. Suicide within two years of the policy’s effective date voids the policy. Additional information is available at MassMutual Financial Group’s website.
Articles cited
Bankrate
bankrate.com/financing/insurance/free-term-life-from-massmutual/
MassMutual Financial Group
massmutual.com/
MassMutual LifeBridge Brochure
massmutual.com/mmfg/pdf/lifebridge_eligibility.pdf
MassMutual LifeBridge FAQ
massmutual.com/mmfg/pdf/LifeBridge_FAQ.pdf
Wikipedia
en.wikipedia.org/wiki/Term_life_insurance
MassMutual LifeBridge program testimonial
youtube.com/watch?v=-cB40ili9og
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