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Life insurance company provides free coverage

Posted On Fri, November 19, 2010

Low-income families don't have to go without life insurance. There is a way to get coverage without pinching pennies. A major insurer is providing free policies to families that make less than $40,000 a year.

MassMutual Life Insurance is giving away policies in part to celebrate National Philanthropy Day. The insurer has a goal of providing $1 billion in free coverage. So far, more than $575 million has gone to families. The company says participating in philanthropic efforts is an important part of their corporate culture.

"Giving back to our community, both financially and through hands-on involvement, is a key aspect of corporate citizenship, especially in those communities where our employees and financial professionals live and work," says MassMutual assistant vice president Nick Fyntrilakis.

While there are multiple benefits to having life insurance, one is a death benefit. Such coverage can be crucial if the breadwinner in a family were to pass away. The funds would help ensure loved ones would live the same quality of life they would have had the fatality not occurred.

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