State Senator Joan V. Hartley and the Boys & Girls Club of Greater Waterbury are teaming up with the Massachusetts Mutual Life Insurance Company (MassMutual) to give away free $50,000 term life insurance policies to benefit children of working families throughout Greater Waterbury. MassMutual pays all insurance premiums on the policies as part of the company's philanthropic LifeBridgeSM program.

Eligible parents and legal guardians may apply for this coverage during a public event on Wednesday, December 11, 2013 from 5:00 – 7:00 p.m. at the Boys & Girls Club of Greater Waterbury, 1037 East Main St., Waterbury, CT. Eligible applicants should call the Boys & Girls Club at 203-756-8104 to schedule their 15 minute appointment. Appointments are preferred.

MassMutual has issued more than 13,200 10-year term life insurance policies since launching the program in 2002. This represents more than $660 million in coverage as of November, 2013. MassMutual expects to issue a total of $1 billion in free term life insurance coverage through the national philanthropic free life insurance program, called LifeBridge. The policy proceeds help to pay for the education of eligible children if their insured parent or legal guardian dies during the 10-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 also must be in good health, as determined by MassMutual's underwriting guidelines.
"MassMutual wants children to have the money and means to help pay for their education, even if their parents or legal guardians die and the children can't afford to pay for their own education," added Cindie St. George from Community Responsibility at MassMutual.

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 stock 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.

MassMutual agents donate their time and services to help people apply for LifeBridge insurance coverage; agents receive no commission and MassMutual pays all the life insurance premiums. There is no cost to the insured or their children.