MassMutual Offers $50,000 in Free Life Insurance

Believe it or not, MassMutual is offering free term life insurance policies to working parents. Yes, you read that last sentence correctly: free life insurance.

"Free life insurance" is a phrase you'd expect to find in your email's spam folder, but this is legit.

Here's how it works: MassMutual's LifeBridge Program offers qualified parents $50,000 in term life insurance for a period of 10 years. If the parent should die within that time period, the money goes to cover their children's educational expenses.

Money can be used for tuition, fees, textbooks, on-campus room and board and other expenses. Pre-school, private schools, universities and trade schools all qualify. The children have 10 years after their parent's death or until age 35, whichever is later, to use the money.

So, in a nutshell, qualified parents get $50,000 in term life insurance coverage to be used toward their children's education--absolutely free.

You may qualify for a free life insurance policy if you are:

• Between the ages of 19 and 42
• The parent of a dependent child under 18
• A U.S. citizen
• Currently employed with a total family income between $10,000 and $40,000 annually
• Relatively healthy (as defined by MassMutual's underwriting guidelines)

You do not qualify if you:

• Have been diagnosed with Type 1 Diabetes, cancer, heart disease or HIV
• Currently abuse drugs or have abused drugs in the past 10 years
• Are currently on probation

For additional requirements and to apply, visit the application form: http://www.massmutual.com/mmfg/pdf/lifebridge_eligibility.pdf

Having only $50,000 in life insurance won't get you very far--even if it's free. It's certainly better than nothing, but if others rely on your income to make ends meet, you should look into a life insurance policy that offers greater protection.

For a more substantial life insurance policy--up to $1 million or greater--shop and compare term life insurance quotes using InsWeb's free quote form.