As heard on the Clark Howard show
The LifeBridge free life insurance program is a unique opportunity to ensure a child’s education at no cost to you. MassMutual pays the premiums for all policies in the program. The program is aimed at income eligible working parents whose children may not be able to complete their education if their parent passed away during the 10 years the policy is in force. In the event of the death of an insured during the term of the policy, the $50,000 death benefit is paid to a trust to cover the educational expenses of the children who are named as beneficiaries by the insured. When educational expenses are incurred, they are paid directly to the educational institution by the trust. MassMutual recognizes the value of balancing business interests with corporate citizenship. MassMutual has been fortunate to succeed for more than 150 years, and feels a keen responsibility to give back to the communities that have long supported the company. Eligibility criteria include the following. Applicants must be: Between the ages of 19-42; A permanent, legal U.S. resident; 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 between $10,000 (minimum) and $40,000 (maximum) annually; In good health, as determined by MassMutual’s underwriting guidelines (as with all life insurance policies). Covered expenses include books, tuition, fees, and room and board. The types of schools covered include pre-school, private school, trade schools, colleges and universities. http://www.massmutual.com/mmfg/about/lifebridge.html That is the extent of my knowledge of the program- I don't have kids.