More Multicultural Residents of U. S. Now Eligible to Purchase Increased Life Insurance Coverage from MassMutual
Growing Asian and Latin American populations expected to benefit
(Springfield, MA) - The growing U. S. multicultural population is now able to apply for increased life insurance coverage as the result of recent changes to eligibility requirements introduced by Massachusetts Mutual Life Insurance Company (MassMutual). Additionally, MassMutual’s guidelines for foreign travel to several parts of the world, especially Latin America and Asia, have been eased, allowing potential life insurance coverage for applicants who travel outside of the U. S.
“MassMutual’s new eligibility guidelines are now more flexible, which helps to accommodate our changing population and their lifestyles,” said Shelby Hollister, vice president and chief underwriter for MassMutual’s U. S. Insurance Group. “We know that a growing number of this country’s residents come from and frequently travel back to countries in Asia and Latin America.”
MassMutual’s updated travel guidelines allow potential life insurance policyholders who travel for up to 12 weeks for vacations, family visits and business in 16 Asian and eight Latin American countries, in addition to 20 more worldwide, to apply for coverage.*
“Our revised guidelines now enable us to offer coverage to individuals who came to the U.S. on certain temporary visas and decide to stay permanently,” added Chris Mendoza, director of multicultural markets for the company’s U. S. Insurance Group. “These new residents, their spouses and children often come from cultures that have strong family orientations and as a result, seek out life insurance to protect their loved ones. Now, MassMutual can help meet this growing need.”
MassMutual’s revised underwriting allows for offers on policies valued up to a maximum face amount of $7.5 million for eligible temporary visa holders.
To further ease the application process for multicultural policyholders for whom English is a second language, MassMutual has introduced a process that assures the application, which is in English, has been translated for the applicant by a qualified translator.
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