Massachusetts Mutual Life Insurance Company
A Blue Chip Company with a History of Excellence
Massachusetts Mutual Life Insurance Company (MassMutual) is rated by Weiss as the ninth strongest insurance company in the US. This company, founded in 1851, and its parent company, MassMutual Financial Group, offer a wide variety of life insurance products (including death benefit protection, income replacement, and estate and business planning) that serve over 11 million clients. Massachusetts Mutual Life Insurance Company has over $95.5 billion in total assets, with nearly 1.8million policies in force. MassMutual is one of the original members of the Insurance Marketplace Standards Association (IMSA).
Massachusetts Mutual Life Insurance Products
This company offers both permanent and term life insurance products. Their permanent life includes whole life, universal life, variable universal life, and survivorship life. Term life insurance, which they recommend for short term needs and for flexibility, is offered as an economical choice for protection. The features of their term products vary widely, but they pride themselves on finding the right fit for each customer. Some of the features are as follows:
- One-year term which is nonconvertible and nonrenewable
- Five year term, ten year term, etc.
- Premium guarantees –your premiums will not increase for 5, 10, 20 or 30 years depending on the policy purchased.
- Renewable term policies, without a medical exam
- The ability to convert to permanent life insurance, regardless of medical history, within the conversion period
- Can convert to any of their permanent products available at the time of conversion. (Some companies limit which permanent products you can convert to.)
- Cannot be cancelled, except for non-payment of premiums.
- Waiver of premium option on their term policies allows not only for the standard waiver of premium in case of disability, but also allows for a convertibility option when that term runs out. Payments on the permanent policy will be waived as well.
Financial ratings for MassMutual A.M. Best: A++
Standard and Poor’s: AAA
The financial strength of a company and potential for prolonged survival are represented by the above ratings.
MassMutual Company Information
1295 State Street
Springfield, MA 01111-0001
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