The following are some of the main requirements for eligibility:
- Between the ages of 19 and 42;
- The parent or legal guardian of one or more dependent children under age 18;
- A permanent, legal resident of the United States;
- Currently employed full or part time with a total family income not less than $10,000 or more than $40,000 annually;
- The only member of your household who has applied for the LifeBridge Free Life Insurance Program;
- In good health.
The proceeds of the life insurance can only be used for any kind of formal schooling, including pre-school, elementary school, high school, vocational school, college and graduate school.” The benefits will be paid to a trust administered by the MassMutual Trust Company F.S.B. on behalf of the children and the trust will make payments directly to the schools attended by the children.
For those who qualify this is a great program to protect your child’s education in case of a tragedy. If you are enrolled in this program let us know how smooth the process is and any other interesting tidbits.
