Insurer donates free policies

Dec 21, 2010

A life insurance company donates policies

Life insurance provides a valuable security net for families in the event of the breadwinner passing away. However, many who are struggling financially may feel they can't afford to spare the money on coverage.

A major life insurance policy is helping such families out by offering free coverage to those who meet specific income requirements.

The Pittsburgh Post-Gazette recently interviewed the Ott family, who was awarded one of the free policies.

"When you are busy taking care of kids, you never think about something like insurance or the future," Jane Ott told the paper. "You just try to make ends meet and live paycheck to paycheck."

The paper reports the family is receiving a 10-year term policy that with a face value of $50,000. Furthermore, the policy will pay for the children's educational expenses should the policyholder pass away.

People who are considering life insurance should research quotes online to get an idea of what types of policies and rates they may qualify for. Premiums can vary depending on a variety of factors including age and health.

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