$10,000 of Insurance Completely FREE. NSA

James Greystone
Aug 23, 2017 · 3 min read

“Free insurance!” That’s a come-on that might easily turn your head. But some of us have gotten skeptical about “free” offers, because you might have to buy an accompanying product you don’t need, just to get a free item that isn’t really worth having. We’ve all been there.

“It reminds me of back in the 1960s and ’70s, when you used to get a free water glass in a box of detergent,” says Norma Garcia, senior attorney for Consumers Union, the policy division of Consumer Reports. “If you’re getting crummy soap, then what’s the point?”

However, free insurance coverage may be attached to a product or service you do want, such as a checking account. And, though free, the policy itself may have some value.

“In many cases, the first thing you want to look at is what’s excluded from the policy, and then what’s included,” Garcia says. “Do I really need this, and is this other product worth having without the insurance?”

Free insurance policies rarely provide the full protection you need; often the object is to get you to buy more coverage, to supplement the freebie. So, what kind of free insurance is out there, anyway?

People dream about such a good deal as getting insurance completely free. Just think about it. A chance to protect your family at no cost. How could it get so good? Get insurance 100% free is so simple. Just sign up in 2 minutes and go wild. No string attached. Truly. No strings attached.

MassMutual’s LifeBridge program offers free $50,000, 10-year term life policies to families earning between $10,000 and $40,000 a year. An applicant must work at least part time and have a child younger than age 18. Along with age limitations for the applicant, there are health restrictions: You won’t qualify if you have a potentially life-threatening condition, such as HIV or heart disease.

The free insurance has a catch, if you want to call it that: If you pass away during the policy term, your beneficiary won’t receive the typical lump-sum payment. Instead, MassMutual will hold the funds in a trust and pay them directly to the child’s preschool, private school, trade school, college or university. Your child can use the money until age 35, or for up to 10 years after you die. The insurance money can cover expenses such as books, tuition, dormitory fees and even student loans.

A broken or stolen cellphone can ruin your day and send you into text withdrawal. Some credit card issuers come to the rescue by offering free insurance protection to offset the cost of a new phone.

Banks including Wells Fargo, Citi and Fifth Third offer cellphone protection when you use their credit cards to pay your wireless bill. Wells Fargo offers up to $600 in coverage, minus a $25 deductible, and Citi’s Forward card for college students reimburses up to $250 for a damaged or stolen mobile phone, beyond a $50 copayment.

You’ll have to decide if it’s worth getting a credit card just to insure your cellphone, especially if the card has an annual fee. Home insurance policies provide some coverage for lost or stolen phones (minus your deductible), and your wireless service provider may offer a protection plan for a few dollars a month.

If you decide to go with a credit card protection plan for your phone, watch for exclusions. For example, Wells Fargo and Fifth Third won’t help if your phone is stolen from baggage or a construction site, or it’s damaged in an earthquake or flood.

Apparently it will only take 2 minutes to sign up.

The company should launch the product within a few weeks time. Stay tuned for an update then.

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