Mass Mutual Life Insurance Company Review

MassMutual has been in the life insurance industry since 1851. With more than $1 trillion of protection in force, it’s one of the strongest insurance companies in the U.S.

This article covers everything you need to know about Mass Mutual, including how it compares to other life insurance companies, the types of policies it offers, and how its underwriting process measures up to competitors.

MassMutual consistently ranks among the most financially secure life insurers. As of the latest data:

• AM Best: A++ (Superior)
• Moody’s: Aa3 (High Quality)
• S&P: AA+ (Very Strong)
• Fitch: AA+ (Very Strong)

These ratings rival those of other top life insurers, such as Guardian, New York Life, and Northwestern Mutual, and signal that MassMutual is built to be there in the long term.

MassMutual offers a comprehensive lineup of term policies, but its pricing is typically middle-of-the-road. You’ll often find better rates with companies like Banner Life, Protective, or Corebridge.

• Term Life Highlights:
  • Term ART – Ages 18-75
  • Term 10 – Ages 18-75
  • Term 15 (Ages 18-70) and Term 15 Extended Conversion Period (ECP) (Ages 18-54)
  • Term 20 (Ages 18-65) and Term 20 ECP (Ages 18-54)
  • Term 25 (Ages 18-60) and Term 25 ECP (Ages 18-54)
  • Term 30 (Ages 18-55) and Term 30 ECP (Ages 18-54)
• Riders Available:
  • Waiver of Premium
  • Accelerated Death Benefit for Terminal Illness
• Underwriting Rate Classes:
  • Ultra Preferred Non-Tobacco
  • Select Preferred Non-Tobacco
  • Non-Tobacco
  • Select Preferred Tobacco
  • Tobacco

If you purchased a fully underwritten MassMutual term policy in the last 3 years, the Platinum Pass Term program allows you to apply for up to $3 million of additional term coverage without another medical exam. This is a fast-track underwriting option for eligible applicants.

This is where MassMutual stands out. Their whole life policies are among the best in the business. You get access to strong dividends, multiple payment structures, and advanced rider options.

• Whole Life Highlights:
  • 8 Pay Whole Life (Ages 0-75)
  • 10 Pay Whole Life (Ages 0-75)
  • 12 Pay Whole Life (Ages 0-75)
  • 15 Pay Whole Life (Ages 0-75)
  • 20 Pay Whole Life (Ages 0-75)
  • Whole Life 65 (Ages 0-60)
  • High Early Cash Value (HECV) Whole Life (Ages 0-75)
  • Whole Life 100 (Ages 0-90)
• Riders Available:
  • Waiver of Premium (WP)
  • Additional Life Insurance Rider (ALIR)
  • Planned Additional Life Insurance Rider (PALIR)
  • Life Insurance Supplement Rider (LISR)+
  • LTCAccess Rider (LTCR)
  • Renewable Term Rider (RTR)
  • Guaranteed Insurability Rider (GIR)
  • Transfer of Insureds Rider (TIR)
  • Accelerated Death Benefit Rider (ABR)
  • Yearly Term Purchase Rider (YTP)
• Dividend Options:
  • Cash Dividends
  • Reduce Premiums
  • Paid-Up Additions
  • Accumulation
  • LISR/Flex
  • One-Year Term
  • Reduce Loan
  • Reduce Loan Interest

If you’re comparing companies like Guardian or Penn Mutual, MassMutual should be on your shortlist.

And if you’re considering a simplified whole life policy like those offered by TruStage Life Insurance Company, don’t. Mass Mutual offers more competitive pricing.

MassMutual also offers a second-to-die whole life policy to cover two people. Ideal for estate planning or wealth transfer strategies.

• Survivorship Whole Life Highlights:
  • Whole Life 100 – Ages 18-85
  • 12 Pay Whole Life – Ages 25-75
  • Minimum Face – $100,000
• Dividend Options:
  • Cash
  • Reduce Premiums with excess to cash or paid-up additions
  • Paid Up Additions
  • Dividend Accumulation
  • LISR/FLEX
  • Reduce Loan
  • Reduce Loan Interest
• Whole Life Riders:
  • Accelerated Death Benefit for Terminal Illness of Surviving Insured (ABRS)
  • Estate Protection Rider (EPRS)
  • Split Policy Option Rider (PSOS)
  • Survivorship Additional Life Insurance Rider (ALIRS)
  • Survivorship Life Insurance Supplement Rider (LISRS)
  • Waiver of Premium Upon Death of Specified Insured Rider (WPDS)
  • Waiver of Premium (WP)

The policy options and riders allow you to build the exact policy you desire. With any permanent life insurance policy, there are full company illustrations that we provide to you.

MassMutual’s UL policies are available, but they are not competitive in the market. If you’re looking for guaranteed UL coverage, check out policies from Pacific Life, Protective, Nationwide, Corebridge Financial, or North American.

Coverage starts at $50,000 for the UL policy and $100,000 for the survivorship policy.

If you bought a permanent life insurance policy in the past 5 years, you may be eligible for the Platinum Pass Permanent Program.

• Add up to 2x your original coverage
• Max coverage amount = $5 million
• No new lab work is required
• Applies to whole life insurance policies only (but not CareChoice)
• Not available for replacement or in New York.

Approved carriers include Guardian, Northwestern Mutual, Prudential, and others.

MassMutual’s CareChoice One and CareChoice Select policies combine life insurance with long-term care benefits.

• CareChoice One: Single-pay policy, $25,000 minimum.
• CareChoice Select: 10-pay, minimum face of $400,000 ($75,000 in NY)

CareChoice is not eligible for the Platinum Pass Program.

MassMutual has several niches where it outperforms some competitors:

• Former Smokers: Preferred rates after 12 months tobacco-free.
• Cigar Smokers: Up to 24 cigars per year are eligible for preferred rates (negative nicotine test).
• Marijuana:
  • Ages 18 – 30 – Ultra Preferred rates available for up to 2x/week.
  • Ages 31+ – Ultra Preferred rates available for up to 3x/week.

• Sleep Apnea: Mild/Moderate cases with CPAP compliance may qualify for Ultra Preferred.
• Depression/Anxiety: Stable, low-risk cases with no hospitalizations and two meds max.
• Cholesterol: Levels up to 350 are accepted depending on the ratio.
• Skin Cancers: Basal, squamous, and in situ melanomas
• Thyroid Cancer: Select Preferred rate is available after 2 years for stage 1.
• Build (BMI):
  • Ultra Preferred for BMI up to 34
  • Select Preferred for BMI up to 37

We quick quote our high-risk life insurance cases to Mass Mutual, especially for clients seeking permanent life insurance.

You may be eligible for accelerated underwriting with Mass Mutual.

• Ages 17-50
• Up to $1 million in coverage
• Available for term and whole life policies
• Requires standard or better rate class
• No medical exam if you qualify

The accelerated guidelines for MassMutual are limited compared to those of other companies.

Mass Mutual doesn’t sell policies online. You’ll need to work with an independent agent, such as us, or a MassMutual office.

The benefit of working with us is that we’ll provide you with comparisons of Mass Mutual to other carriers such as Guardian, Penn Mutual, and State Farm.

You have several ways to contact customer service:

• Phone: 800-272-2216
• Website: you can access them here
• Mail: 1295 State Street – Springfield, Massachusetts 01111

Customer service is responsive.

MassMutual is an excellent company from a financial strength standpoint. From a competitive product standpoint, there are better term life insurance and universal life options.

For a whole life policy, Mass Mutual is going to be one of the best.

Please take a few minutes to submit your quote request today!