MassMutual HealthBridge is a free life insurance program that provides a death benefit to the loved ones of eligible healthcare workers on the frontlines of the COVID-19 pandemic for their health, education, maintenance and support.
Under HealthBridge, the Massachusetts Mutual Life Insurance Company (MassMutual) will issue a 3-year term, $25,000 life insurance policy (if you're between the ages of 18-50) or a $10,000 life insurance policy (if you're between the ages of 51-60) at no cost to you. MassMutual pays the premiums. These guaranteed-issue policies will be paid to trusts in the name of their designated beneficiaries in the event of their death. Once in the trust, the funds can be used by beneficiaries for expenses related to health, education, maintenance, and support.
Under the HealthBridge Free Life Insurance Program, the death benefit ($25,000 or $10,000 depending on the age of the insured) is paid to a trust fund. The trust fund, administered by The MassMutual Trust Company, holds the dollars that will pay for expenses related to the health, education, maintenance and support (HEMS) of your designated Beneficiary. The trust can pay the benefits directly to your Beneficiary or to the recipient your Beneficiary requests.
The proceeds can be used to pay for a variety of expenses including, but not limited to, funeral and burial costs, household expenses, medical costs, mortgage or rental payments, tuition, fees, books, and other educational costs, or any other expenses that may be approved by the Trustee in accordance with the Internal Revenue Code §2041 and other applicable laws and regulatory guidance.