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!