Houston area families to receive free life insurance that benefits children’s education
- By Staff Writer
- Published 09/28/2009
- Community
- Unrated
HOUSTON- Harris County Commissioner Sylvia R. Garcia, and Dr. Laura G. Murillo, president & CEO of the Houston Hispanic Chamber of Commerce, join Massachusetts Mutual Life Insurance Company (Mass Mutual) to give away free $50,000 life insurance policies to benefit children of working families throughout the Houston metro area. MassMutual will pay all premiums on the policies as part of the company’s philanthropic LifeBridge program.
Eligible parents and legal guardians may apply for this coverage during a public event at Ripley House Community Center, 4410 Navigation Blvd., Houston, Saturday, Oct. 3, 2009 from 10:00a.m. – 2:00p.m. Eligible individuals should call MassMutual at (713)402-3849 to schedule their 15-minute appointment. Appointments are required.
“LifeBridge is a unique and important program and I am pleased to be working with MassMutual to bring free life insurance to local families. I support this campaign and the benefit it offers to our children,” said Commissioner Garcia.
The $50,000 benefit from these life insurance policies will help pay for the education of children if their parent or legal guardian dies during the ten-year policy term.
Parents and legal guardians between the ages of 19 and 42 may apply for this insurance coverage. They must have one or more dependent children under the age of 18, be working full or part time with a total family income of between $10,000 and $40,000, and be permanent, legal residents of the U.S. They must also be in good health, as determined by Mass Mutual’s underwriting guidelines.
“Mass Mutual wants children to have the money and means to pay for their education, even if their parents or legal guardians die and the children can’t afford to pay for their own education,” continued Ruiz-Posada.
If an insured parent or guardian dies during the policy’s term, MassMutual will deposit the $50,000 face amount into a trust administered by The MassMutual Trust Co., FSB, a wholly owned subsidiary of MassMutual, on behalf of the children.
The trust will pay the educational expenses of the children directly to the educational institution they attend. The money can be used to help pay for educational expenses such as books, tuition, fees and campus room and board. The types of schools covered include pre-school, private school, trade school, colleges, universities, art, music and graduate schools.
Eligible parents and legal guardians may apply for this coverage during a public event at Ripley House Community Center, 4410 Navigation Blvd., Houston, Saturday, Oct. 3, 2009 from 10:00a.m. – 2:00p.m. Eligible individuals should call MassMutual at (713)402-3849 to schedule their 15-minute appointment. Appointments are required.
“LifeBridge is a unique and important program and I am pleased to be working with MassMutual to bring free life insurance to local families. I support this campaign and the benefit it offers to our children,” said Commissioner Garcia.
The $50,000 benefit from these life insurance policies will help pay for the education of children if their parent or legal guardian dies during the ten-year policy term.
Parents and legal guardians between the ages of 19 and 42 may apply for this insurance coverage. They must have one or more dependent children under the age of 18, be working full or part time with a total family income of between $10,000 and $40,000, and be permanent, legal residents of the U.S. They must also be in good health, as determined by Mass Mutual’s underwriting guidelines.
“Mass Mutual wants children to have the money and means to pay for their education, even if their parents or legal guardians die and the children can’t afford to pay for their own education,” continued Ruiz-Posada.
If an insured parent or guardian dies during the policy’s term, MassMutual will deposit the $50,000 face amount into a trust administered by The MassMutual Trust Co., FSB, a wholly owned subsidiary of MassMutual, on behalf of the children.
The trust will pay the educational expenses of the children directly to the educational institution they attend. The money can be used to help pay for educational expenses such as books, tuition, fees and campus room and board. The types of schools covered include pre-school, private school, trade school, colleges, universities, art, music and graduate schools.