Northern Kentucky Youth Foundation is joined by the Massachusetts Mutual Life Insurance Company (MassMutual) to announce a program offering free $50,000 term life insurance policies to benefit children of working families throughout Northern Kentucky and the surrounding communities. MassMutual pays all insurance premiums on the policies as part of the company's philanthropic LifeBridge SM program. Eligible parents and legal guardians may apply for this coverage by downloading a form off the Northern Kentucky Youth Foundation's website.
Parents and legal guardians between the ages of 19 and 42 may apply for this insurance coverage. They must have one or more dependent children under the age of 18, be working full- or part-time with a total family income between $10,000 and $40,000, and be permanent, legal residents of the U.S. They also must be in good health, as determined by MassMutual's underwriting guidelines.
If an insured parent or guardian dies during the policy's term, MassMutual will deposit the $50,000 face amount into a trust administered by The MassMutual Trust Co., FSB, a wholly owned subsidiary of MassMutual, on behalf of the children. The trust will pay the educational expenses of the children directly to the educational institution they attend. The money can be used to help pay for educational expenses such as books, tuition, fees and campus room and board. The types of schools covered include pre-school, private school, trade school, colleges, universities, art, music and graduate schools.
For more information on this program please visit:http://www.nkyyouth.org/programs/lifebridge/
Northern Kentucky Youth Foundation