Free Life Insurance Offered To Low-Income Parents

Nov. 13--Free life insurance for qualified parents of school-age children is being offered through Mass Mutual Financial Group.

Lockport-based Mass Mutual financial adviser Bobbi Mael is promoting "LifeBridge," a program to provide children up to $50,000 for education expenses in the event their parents or legal guardians die.

The 10-year term life insurance policies are given by Mass Mutual, free of charge, to parents and guardians of dependent children with annual household income between $10,000 and $40,000. It's a nationwide program that's being introduced in Niagara and Orleans counties by Mael.

An application session will be held from 5 to 7 p.m. Dec. 5 at Lockport City Hall. Walk-ins are not accepted, however; applicants must schedule an appointment in advance. During the appointment, which lasts about 15 minutes, applicants must submit proof of identity and income (most recent federal tax return) as well as blood and urine samples for health screening purposes.

Apart from income, additional qualifiers are: Parents/guardians must be between the ages of 19 and 42, are employed full- or part-time and have one or more dependent children younger than 18 years old. They also must be permanent, legal residents of the United States and in good health.

The way LifeBridge works, in the event policy-holding parents or guardians die, Mass Mutual will deposit $50,000 into a trust on their children's behalf. The money can be used for any educational expense such as books, tuition, fees and room and board. All types of schools are covered, from pre-school through graduate school, public or private, as well as trade and art/music schools.

According to Mael, Mass Mutual is the only insurance company in the United States donating term life insurance to low-income families.

"We're trying to level the playing field so everybody can get an education, not just people with better financial situations," she said.

Mass Mutual insurance agents donate their time to promote the program and process applicants. They are not paid any commission for "selling" these policies, according to the company.

Mass Mutual has issued about 9,100 LifeBridge policies nationwide since 2002. Buffalo Mayor Byron Brown helped introduce the policy in Erie County earlier this year, promoting it as a tool for combating poverty; about 275 parents/guardians applied, Mael said. Lockport Mayor Michael Tucker and Common Council President John Lombardi are endorsing the Niagara enrollment push.

To schedule an insurance screening appointment or find out more about the program, call Judy Webster at 852-1321.