How LifeBridge Works
MassMutual’s LifeBridgeSM program provides free, $50,000 ten-year term life insurance policies to eligible parents and legal guardians. MassMutual pays the premiums. In the event that the insured parent passes away during the 10-year period of the policy, a $50,000 death benefit is paid to a trust1. That trust holds the funds to pay for the child’s (or children’s) educational expenses and pays the benefits directly to the school (or schools) attended.
Money can be used for tuition, fees, books, campus room and board, and other educational expenses. Preschools, private schools, trade schools or colleges and universities all qualify. Children have up to 10 years following their parent’s death (or until they turn 35, whichever is later) to use the benefit. The only program of its kind, LifeBridge has issued more than 14,000 policies since 2002, representing a total of over $700 million in coverage — with an ultimate goal of $1 billion.