Life Insurance Goes to Working Texas Families

Posted in Life Insurance

July 2nd, 2009

Working Texas families in need of life insurancereceived free policiesin the middle of June for the amount of $50,000 per family. Presented by the LifeBridge program and in a joint effort by Dallas Area Habitat for Humanity, Massachusetts Mutual Life Insurance Co., and Spectrum Financial Group, policies were given to eligible parents and legal guardians at the Dallas Area Habitat for Humanity.

The 10-year term life insurance policies were given to these Dallas area families to help pay for education costs of children of the working.

Guidelines of the Program

There were a number of guidelines that determined eligibility of this program. Applicants were required to:

• Be between the ages of 19 and 42.
• Haveone or more dependent children under the age of 18.
• Be working full or part time with a total gross family income between $10,000 and $40,000 (recent pay stub/federal income tax return or tax statement was required).
• Be a permanent, legal resident of the United States and in good health (on-site medical screenings, blood and urine samples were required).

Becausethe program was offeringterm policies, the terms will be paid to beneficiaries if the policyholder is to die within a certain period of time; in this case, 10 years.

In total, it is estimated that a total of $1 billion in free coveragewill bedistributed nationwide through the LifeBridge program.

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