Free life insurance kick-offs at Guy Eby

Published 10:30 am Thursday, October 21, 2004

By Staff
CASSOPOLIS - The MassMutual Financial Group has introduced a totally free term life insurance program for working parents in Michigan.
A kick off event will be held on Saturday, Oct. 23, from 9 a.m. to 12 noon at the Guy Eby Insurance Agency located on the corner of Spencer Street and M-60 (G.W. Jones Bank Building) in Cassopolis, where you may obtain additional information.
Under the LifeBridge Free Life Insurance Programs, 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 84th 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.
To obtain an eligibility form, people can call John Yates of the Guy Eby Insurance Agency at 1-269-445-2425. Community organizations are encouraged to contact Yates to learn about how this program may be of benefit to their members.
"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," Mr. Yates 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 LifeBridgesm 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.
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.
MassMutual Financial Group - comprised of member companies with over $240 billion in assets under management as of year-end 2002 - 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 and services.
The MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company and its subsidiaries, which include: OppenheimerFunds, Inc.; David L. Babson &Company Inc.; Cornerstone Real Estate Advisers, Inc.; 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. MassMutual is on the Internet at