CAMARILLO, Calif., Jan. 9 /PRNewswire/ -- Consumer Credit Counseling Service (CCCS) announced today it is teaming up with MassMutual Financial Group to offer eligible families free $50,000 term life insurance policies under MassMutual's LifeBridge(sm) Free Life Insurance Program. If an insured parent or legal guardian passes away during the 10-year term of the policy, Massachusetts Mutual Life Insurance Company (MassMutual) will put $50,000 in trust to pay solely for the educational expenses of dependent children.

"This is an opportunity to make a valuable program available to our eligible families at no extra cost," said Joy Thormodsgard, President & CEO of CCCS, which is based in Camarillo and serves Santa Clara through Ventura Counties. "This is an absolutely free program. MassMutual pays all the premiums."

Robert Walker, President and CEO of Walker Financial Partners, LLC, and Arkady Milgram, local MassMutual representatives, are providing the free program as a community service. "Our philanthropic goal is to ensure that eligible parents have the peace of mind that there will be money available for their children's education should they pass away during the term of the policy."

Consumer Credit Counseling Service is sponsoring a LifeBridge application meeting. The meeting will be held at the Consumer Credit Counseling Service, 80 North Wood Rd., Camarillo, CA, on Saturday, January 26th, between 10 a.m. and 2 p.m. Eligible individuals should call CCCS at 800-540-2227 to schedule their 15 minute appointment to apply.

"We're trying to help ensure that all children have the same access to educational opportunities," Ms. Thormodsgard said. "With LifeBridge, if the insured passes away during the policy's term, MassMutual will put aside $50,000 to pay for the educational expenses of their children. And children have until age 35 to use the benefit. At first, we thought this was too good to be true, but the fact is that LifeBridge policies are indeed free, and we encourage all eligible individuals to take advantage of this opportunity."

"It's not every day that something comes along for free," said Mr. Milgram. "A LifeBridge policy costs a parent or legal guardian nothing, and it is a way for us to combine our philanthropic focus--- education -- with one of our primary products -- life insurance."

  LifeBridge applicants must meet all program criteria and be:

  -- between the ages of 19-42 (inclusive);

  -- a permanent, legal U.S. resident;

  -- the parent or legal guardian of one or more dependent children under
     the age of 18;
  -- currently employed - either full- or part-time - and have a family
     income of between $10,000 and $40,000 on their most recent income tax
     return; and

  -- in good health, as determined by MassMutual's guidelines.

Each LifeBridge policy has a 10-year policy term. If the insured parent or legal guardian dies during that time, the $50,000 life insurance benefit will be paid to a trust administered by the MassMutual Trust Company, FSB on behalf of the children. The trust pays the educational expenses of the children directly to the educational institution.

Various types of schools qualify for reimbursement including pre-school, private school, vocational school, community college, universities, art and music schools or graduate schools. Some of the expenses covered include books, tuition, and on-campus room and board.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual and its subsidiaries have more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.

Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., member FINRA and SIPC (www.finra.org and www.sipc.org); MassMutual International LLC; and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.

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Source: MassMutual Financial Group

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