MassMutual Donates $3B Of Free Life Insurance To Healthcare Workers
Massachusetts Mutual Life Insurance Company (MassMutual) today announced the launch of MassMutual HealthBridge, which will provide free term life insurance to the brave and resilient frontline healthcare workers across Massachusetts and Connecticut risking their lives during the COVID-19 pandemic.
MassMutual is committed to its Live Mutual belief that we are all in this together and is offering local healthcare workers who are putting their safety on the line no-cost policies of up to $25,000.
MassMutual Announces $3 Billion of Free Life Insurance for Healthcare Workers on the COVID-19 Frontline (Photo: Business Wire)
All active employees of licensed hospitals, urgent care centers or emergency medical services providers in Massachusetts and Connecticut, the primary operational locations for many of MassMutual’s employees, whose jobs may involve occupational exposure to the virus are eligible for the 3-year term life policies. By uploading proof of employment and filling out a short application on the HealthBridge page, qualified healthcare workers will receive this free element of financial protection – completed fully online – from MassMutual.
“MassMutual HealthBridge is our way of helping the everyday heroes on the front lines who are sacrificing so much in the fight against COVID-19,” said Roger Crandall, MassMutual Chairman, President and CEO. “We are giving back by doing what we have done best for nearly 170 years – helping to provide financial security and protection to individuals and families for events both planned and unplanned. We can never repay healthcare workers for their selfless efforts during this crisis, but by helping them protect their loved ones, we hope we can contribute to their peace of mind as they work to protect us all.”
HealthBridge, totaling $3 billion of insurance coverage, is an extension of MassMutual’s current LifeBridge program, which has been providing free life insurance for nearly two decades to income-eligible families to help children with educational expenses in the event a parent or guardian passes away.
State of Connecticut Insurance Department Commissioner Andrew N. Mais added, “We already work closely with MassMutual on their LifeBridge program. This is a natural – and much welcome – addition during a time when healthcare professionals are worried about themselves and their families. We’re thankful that MassMutual is stepping up to support these vital personnel who are tenaciously battling the virus with a multi-year, multi-million dollar commitment.”
“Healthcare workers are on the frontline supporting our communities during this unprecedented public health crisis and the risks that they face are significant,” said Massachusetts Insurance Commissioner Gary D. Anderson. "Now more than ever, it is critical that regulators and insurers recognize the importance of flexible and innovative products that enable these essential personnel to do their jobs as efficiently as possible while knowing that their families are protected.”
HealthBridge guaranteed-issue policies for eligible applicants would be paid to their loved ones in the event of their death. Interested individuals can find more information on the HealthBridge page. Applications will begin to be accepted by the end of April.
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.