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PostPosted: Fri Jun 25, 2010 4:26 pm   Post subject: insurance  

I've looked up Mass Mutual and read a few things about it. They talk about Life Insurance (term and Whole). They talk about the "premiums paid every month/year", etc. However....I haven't read anything (as of yet..) that said that Mass Mutual pays its own premiums. Am I looking in the wrong place?

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PostPosted: Fri Jun 25, 2010 4:56 pm   Post subject:   

Search for the article. It will be the first hit that you get. It's by Michelle Singletary Washington Post September 16th 2005. The article clearly and accurately describes the program. The program makes no money for the company. It gives them some goodwill and is simply a charitable endeavor.



The problem is that it's easier to sell a $1,000,000 policy than it is to give away a $50,000 policy.


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PostPosted: Fri Jun 25, 2010 4:59 pm   Post subject: insurance  

I can see the "problem". Some people may just think the entire 'process' is a scam. Hope you see my point. No..I haven't read that certain artice, yet. Thanks for the info.

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PostPosted: Fri Jun 25, 2010 5:06 pm   Post subject: insurance  

Well..........I looked up the website, again. I 'searched' the name you gave me (Washington). I even 'Googled' her name. Nothing, with that name, was found by me..sorry.

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PostPosted: Fri Jun 25, 2010 6:33 pm   Post subject:   

Try this. I can't post a link. militarymoney dot com /columns/1/292


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fakuweoie
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PostPosted: Fri Jun 25, 2010 10:51 pm   Post subject: insurance  

Well....I looked at MilitaryMoney dot com. The only thing I found was an article that Michlle wrote..about a woman, released from prison, who started her 'life over'. She had started a new job, etc. Also...another article about Military personel who are in debt, etc. (I'm in the Military, myself). NOTHING on her saying anything about Mass Mutual Insurance.

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PostPosted: Sat Jun 26, 2010 9:41 am   Post subject:   

Sorry that I can't properly direct you to it. I can assure you that it's legit and is free to the consumer. There are age and income restrictions and the money can only be used for education. I believe that the person must be between 22 and 40 and have a household income of less than $40,000, but must be working. They must be standard risk or better. It is a 10 year $50,000 term policy. The death benefit gets paid into a trust and will be used for higher education.


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PostPosted: Sat Jun 26, 2010 2:22 pm   Post subject: insurance  

I DID find information about Life Insurance. It was talking about certain premiums you pay (depending on whether it's Whole or Term Life). I couldn't find anything about a Life Insurance policy that is free to consumers.

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PostPosted: Sat Jun 26, 2010 4:42 pm   Post subject:   

Finding information about life insurance is irrelevant. We are talking about specific information. Try this:



massmutual dot com/mmfg/pdf/lifebridge_eligibility.pdf


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fakuweoie
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PostPosted: Sun Jun 27, 2010 3:32 am   Post subject: insurance  

That's where I looked, originally...at Mass Mutual. The website talks about several different kinds of Life Insurance you can purchase, etc.

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PostPosted: Sun Jun 27, 2010 11:02 am   Post subject:   

You'll see tons of stuff if you look at the Mass Mutual website. Instead, look only at that PDF on the website.


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PostPosted: Tue Jun 29, 2010 4:23 pm   Post subject:   

OK. Here are the specifics of the "LifeBridge" policy/program:



You are eligible to apply for the LifeBridge program if you are:

• 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; and

• In good health as determined by MassMutual’s underwriting guidelines.



You would not be eligible if you:

• Have been diagnosed with heart disease, cancer, HIV or Type 1 Diabetes;

• Currently abuse drugs or alcohol or have abused them within the last 10 years; or

• Are currently on probation.

Additional underwriting will apply.



But, notice also:



How long will this program be available?

The LifeBridge Free Life Insurance Program will be available until 20,000 policies have been issued, or through December 31, 2009, whichever comes first. MassMutual will reassess the program after that date.




The program is of limited duration and value (max $50,000, and highly restricted -- insured's income between $10,000 and $40,000, not currently on probation, only one to a household, etc), and is not germane to my original post. As "free insurance" it may or may not have been approved in all states. As a public service, it has some value, mostly PR for MassMutual (which is a fine company in its own right):



INSURANCE COMPANY TO GIVE AWAY $1 BILLION IN FREE LIFE INSURANCE



My original post was about selling insurance to very wealthy persons "with no premium" associated. That, to me, is highly suspect, and was the impetus behind my post. The solicitation I received as a licensed agent appears to me to be "too good to be true." And when that's the case, it probably is.



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PostPosted: Wed Jun 30, 2010 4:06 am   Post subject: insurance  

MAX.....yes, I agree. Usually if I see something that's "too good to be true", it probably is. Life Bridge?..I've never heard of it..really. I don't know anyone that has it, anyone. It seems like there are alot of 'limitations' to this 'free' Insurance.

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PostPosted: Thu Jul 01, 2010 1:24 am   Post subject:   

SDCharger, There is no reason why you would have heard of the LifeBridge program. It's not like they would do a heavy advertising campaign about giving away free life insurance. There is no reason to put "free" in quotes. It is absolutely free for the participants.



It isn't too good to be true. It's a good thing. It's not a replacement for getting necessary life insurance. It's designed to make sure that there is money for college. The "limitations" has no impact on how much coverage they would give out. It just set the criteria of who would be eligible.


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PostPosted: Thu Jul 01, 2010 9:36 am   Post subject:   

Quote:
Life Insurance with no premium?...that would be a good trick.


I do come across such proposals as 'life insurance with no-exam' and 'life insurance with no premium'. It's hard to guess if such coverage would at all be helpful to us under crisis. I guess it's high time that we stop fancying about "free" services. We must understand that 'Nothing in this world comes for free'. There's always a catch!

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