SpecialCare Program Commended for Outstanding Contributions to Special Needs Community
SPRINGFIELD, MASS., MAY 5, 2015 - Massachusetts Mutual Life Insurance Company (MassMutual) was honored with Easter Seals of Massachusetts’ Team Hoyt Award in recognition of the company’s groundbreaking SpecialCareSM Program and its unwavering commitment to providing people with disabilities and other special needs and their parents and/or caregivers with options for financial security and independence. The award was presented on April 30 in Boston.
The Team Hoyt Award is named for father and son Boston Marathon runners Dick and Rick Hoyt and is awarded to individuals and organizations that reflect the courage and determination of Team Hoyt in breaking barriers for people with disabilities.
“It is such an honor to be presented this award named for the Hoyts—not only one of the most iconic names in Boston Sports history but also one known across the nation as a name that is synonymous with promoting visibility and equality of life for persons with disabilities,” said Mike Fanning, executive vice president of MassMutual’s U.S. Insurance Group. “MassMutual has worked with Easter Seals since 2001 to help alleviate the financial pressure on caregivers providing care to loved ones with special needs,” he said.
MassMutual’s Special Care Program has been reaching out since 2004 to the families of the more than 54 million people with special needs in America to provide education and resources to help caregivers and their loved ones meet the challenges of life care planning.
To better reach and serve the special needs community, MassMutual collaborated with Easter Seals to sponsor research on autism and adults with special needs and sibling caregivers. The first two studies supported the development of an award-winning documentary on the issues that children with autism face upon becoming adults.
“We continue to see both the need for our program and its success,” Fanning said. “Our recent joint study on caregivers revealed that close to half of the respondents who identified as caregivers worry about the financial impact of their roles. At the same time, we've seen the intense relief that putting a life care plan into place can bring to a family, with one father saying he felt an enormous weight being lifted off his shoulders."
In order to provide the best financial education and resources to individuals with disabilities and special needs and the families who care for them,
- MassMutual and the American College established the Chartered Special Needs Consultant (ChSNC) designation in 2012 to prepare financial services professionals to help families with special needs plan for their children’s future proactively.
- The company established the MassMutual Center for Special Needs with the American College in 2015. The $2.5 million investment by MassMutual establishes the first academic center of its kind, serving as the nation's leading authority on life care planning for a people with disabilities or other special needs.
- MassMutual again collaborated with Easter Seals and sponsored a fourth research study that examines the resources available to support family caregivers, The Many Faces of Caregiving, which brings to light the emotional, physical and financial hardships that many family members face when caring for a loved one with special needs.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.