MIB Group, Inc. today announced that college students Catherine Brockner of New Fairfield, Connecticut and Freya Whittaker of Portsmouth, New Hampshire have each been awarded a $5,000 scholarship as part of the Life Lessons Scholarship program. Their stories are both compelling and illustrative of the critical need for the financial protection that life insurance provides, and the struggles endured by those with inadequate coverage. This is the third consecutive year MIB has sponsored two Life Lessons scholarships.
Catherine and Freya were in their early to late teens when they tragically lost their fathers. Without life insurance, both families faced significant hardship, liquidating all assets including college funds if any; both spent years working at multiple jobs along with their mothers to support their families. Their financial lives and future dreams were forever dashed; one lost all family and college savings to support the medical care of an ailing father, the other suffering eviction and inheriting significant unforeseen debt that made recovery unmanageable. After years of hard work and sacrifice, both scholarship recipients are now attending college. Catherine will be a sophomore at the University of Vermont in Burlington, Vermont this fall and Freya will be a junior at Dickinson College in Carlisle, Pennsylvania.
"The struggles these young people have endured serves as a testament to the value life insurance protection provides. We hope these scholarships provide them with some peace of mind as they strive to achieve their lifelong dreams in college," says Lee Oliphant, MIB President and CEO. "Stories like these should inspire families to make life insurance the cornerstone of their long-term financial planning."
"Life insurance is more than a back-up plan... it's an acknowledgement of love and caring that those left behind will have a future," said Freya. "This scholarship represents the hope that even in dire circumstances, anything is possible. Life does happen... a life insurance policy would have made our family's financial goals that much easier. Losing a parent is difficult enough however — it should not impede one's ability to reach their dreams."
"Receiving this scholarship meant that my life could move forward toward a more secure future," said Catherine. "Without life insurance, my college savings was spent on family expenses a long time ago. Paying for college myself is reminiscent of how my dad put himself through school. I'm proud to be following in his footsteps — I know he'd be proud too. Looking back, a life insurance policy could have protected that future and saved an arduous childhood."
Life Lessons Scholarships are provided in coordination with Life Happens, a nonprofit organization dedicated to educating Americans about the importance of life insurance. Scholarships provide financial assistance to students pursuing their dreams of a college education despite having experienced the loss of a parent or legal guardian who passed away without life insurance.
Over 500 Life Lessons Scholarships have been awarded since the program was established in 2005, providing over $1 million in funds from the financial support of the MDRT Foundation, the NAILBA Charitable Foundation, donations from Life Happens' Board of Directors, and major life insurance companies, most of which are MIB members.
MIB Group, Inc. is the insurance industry’s most trusted and secure partner for data, insights and digital solutions that support underwriting and actuarial decision making and improve industry efficiencies. With deep connections to the life insurance companies who are its members, and a sole focus on improving the insurance industry, MIB is uniquely positioned to provide data-driven solutions that address common industry challenges and enable clients to gain efficiencies, manage their risks, and grow profitably. For more information about MIB, visit www.mibgroup.com.
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