If you are like me, (frugal and tight), you have a problem paying out money for things like insurance. I have all the right methods of insurance now, but some dark little man inside of me tells me that paying for “risk” is like throwing money away. Now I know that’s not true, but even so, how could I pass up a chance at $50,000 of free life insurance.
Mass Mutual operates this program (called LifeBridge) as part of its philanthropy arm. Essentially, if your household income is between $10K and $40K per year (which is the case for many in Children’s Ministry), you work in some capacity and have children, you are eligible for this program. It is a 10 year term policy (not the kind to buy, but hey, take it if it’s free) and can only be used for your child’s educational expenses (at any educational level).
When I applied 4 years ago, I was below the $40K mark. Although I can not find this in any information, I did ask the representative what would happen if my salary went up (which it did), and he said that it did not matter. They do not monitor your salary. They award you the insurance upon a one time application. From then on, you could become a millionaire and still have it. I think that if your salary lines up with this, it is a great way grab some security for your children. It is also a definite resource to spread to needy families within your church. The program ends in December of this year, so get on it!
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