This is the latest in a string of announcements insurers have made in the face of COVID-19.
Massachusetts Mutual Life Insurance Company has launched a $3 billion life insurance policies assistance program for Connecticut and Massachusetts health care workers.
This assistance effort is called the MassMutual HealthBridge program for workers in health care.
The MassMutual HealthBridge program will offer health care employees up to $25,000 in free, three-year term life insurance policies. It will be available to active employees of urgent care centers, licensed hospitals, or emergency medical services providers employed in areas where they face occupational exposure to the SARS-CoV-2 virus that causes COVID-19.
Eligible healthcare workers can apply for the free coverage through an online form available on the program’s official website. Part of the application process involves uploading proof of employment to confirm eligibility.
The new life insurance policies assistance is a branch of the existing MassMutual LifeBridge program.
The LifeBridge program is meant to assist low-income parents in obtaining the term life coverage they require. The insurance company intends to start receiving applications for HealthBridge coverage before the close of April.
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This move has brought MassMutual into a growing group of insurers that have been making moves to support consumers and workers throughout the COVID-19 outbreak.
Other examples include a product created by Zurich North America for employers. It was developed to make it possible for employers to provide eligible workers with cash benefits when those workers are hospitalized for over five consecutive days with the coronavirus. According to that insurer, any profits it makes by way of that product will be donated to hunger relief charities.
Moreover, another example beyond the life insurance policies offered by MassMutual is from one of Prudential PLC’s branches. It is working in conjunction with other companies to provide Project Screen by Circle with support. That organization is a broad SARS-CoV-2 testing program in Hong Kong. The goal is to use Prenetics screening test services to about 100,000 people in the city state. Moreover, these tests can be conducted in the patients’ homes instead of requiring them to come to a testing site, clinic or hospital.