Springfield-based Massachusetts Mutual Life Insurance Co. says it will begin offering free $50,000, 10-year life insurance policies to working families in the Worcester area.
The company said it expects to issue $1 billion in free term life coverage through a philanthropic program it calls LifeBridge. The company pays the premiums. Policy proceeds help pay for children’s education if their insured parent or legal guardian dies during the policy’s 10-year term.
The LifeBridge program was launched in 2002, and MassMutual says it has issued more than 8,800 policies under the program since then.
