Anquan Boldin Foundation to Help Facilitate Free Life Insurance Program to Local Working Families in Palm Beach County
Public events to be held on November 15-16 at Pahokee High School
October 27, 2011, Pahokee, FL – The Massachusetts Mutual Life Insurance Company (MassMutual) is giving away free $50,000 term life insurance policies to benefit children of working families throughout Pahokee. MassMutual pays all insurance premiums on the policies as part of the company’s philanthropic LifeBridgeSM program. The Anquan Boldin Foundation, founded by Baltimore Ravens player Anquan Boldin, a native of Pahokee, has partnered with MassMutual to spread the word that eligible parents and legal guardians may apply for this coverage at one of two public events to be held on Tuesday, November 15 or Wednesday, November 16 at Pahokee High School, located at 900 Larrimore Road., Pahokee, FL. Both meetings run from 3:00 – 7:00 p.m. Eligible applicants should call The Anquan Boldin Foundation at 561-755-3560 to schedule their 15 minute appointment. Appointments are preferred.
“LifeBridge is a unique and important program, and we are pleased to bring free life insurance to local families for their children’s education,” said Bishop Robert L. Banks, Jr., Board President and Executive Director of The Anquan Boldin Foundation. “We hope to have more than 100 local families come out to our November meetings. As part of the underwriting process, free health screenings are available to those who qualify.”
MassMutual has issued more than 12,000, 10-year term life insurance policies since launching the program in 2002. This represents more than $600 million in coverage as of August 2011.
MassMutual expects to issue a total of $1 billion in free term life insurance coverage through the national philanthropic free life insurance program, called LifeBridge. The policy proceeds help to
pay for the education of eligible children if their insured parent or legal guardian dies during the 10-year policy term.
Parents and legal guardians between the ages of 19 and 42 may apply for this insurance coverage. They must have one or more dependent children under the age of 18, be working full- or part-time with a total family income between $10,000 and $40,000, and be permanent, legal residents of the U.S. They also must be in good health, as determined by MassMutual’s underwriting guidelines.
“LifeBridge will help bridge the gap between the financial realities hard-working families face and their desire to make a better life for their children,” said Bishop Banks.
If an insured parent or guardian dies during the policy’s term, MassMutual will deposit the $50,000 face amount into a trust administered by The MassMutual Trust Co., FSB, a wholly owned subsidiary of MassMutual, on behalf of the children. The trust will pay the educational expenses of the children directly to the educational institution they attend. The money can be used to help pay for educational expenses such as books, tuition, fees and campus room and board. The types of schools covered include pre-school, private school, trade school, colleges, universities, art, music and graduate schools.
MassMutual agents donate their time and services to help people apply for LifeBridge insurance coverage; agents receive no commission and MassMutual pays all the life insurance premiums. There is no cost to the insured or their children.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strengthand strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance,retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
About The Anquan Boldin Foundation
The Anquan Boldin Foundation (Q81 Foundation), established in 2004, is dedicated to expanding the educational and life opportunities of underprivileged children. As evidenced by the charitable activities in Arizona, Baltimore and Boldin’s home state of Florida, the Q81 Foundation has a seven-year history of helping after-school programs. The Foundation exercises scholarship and dental programs for children. It also serves the community by awarding great scholastic and community achievement in youth. The Q81 Foundation holds annual holiday shopping spree events as well as the nationally-known, Q-Festival Weekend each April. For more information please visit www.Q81.org.