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Everything you should know about MassMutual life insurance

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Simplify your life insurance with this financially sound provider offering policy quotes online in less than 30 minutes.

When it comes to shopping for life insurance, you want to know someone is there for you if you have questions. MassMutual’s customer service and simple application process makes it a life insurance standout.

What is MassMutual known for?

In business since 1851, MassMutual delivers a solid history of protection with a simple application and underwriting. Through its easy-to-navigate site, you can get quotes or sign up for immediate coverage.

MassMutual is owned by it policyholders, and offers life insurance options that pay dividends in solid years. Its strong financial stability is reflected in its A++ score from A.M. Best, a leading rating agency in the insurance industry.

Pros and cons

Advantages

  • Free online quotes.Submit your information for a quote within 30 minutes.
  • Low-cost coverage.MassMutual’s online quote tool lets you see your potential rate. Generally the younger you are, the cheaper your life insurance.
  • Guaranteed acceptance.If you’re worried about qualifying, MassMutual offers a high-risk solution without a medical workup.
  • Start a claim online.Begin filing a death claim online by filling out information about the policyholder and indicate how you’d like to receive your claim packet.

Disadvantages

  • Medical exam likely required.If you’re 45 or older and looking for strong coverage, you may need to get a physical and bloodwork.
  • No mobile app.Keeping up with your insurance details on the go isn’t easy with MassMutual.
  • Convertible term policies not available in every state.If you live in California, Connecticut, Delaware, Florida, Montana, New York, North Dakota or South Dakota, you aren’t eligible for convertible term life insurance.

What life insurance coverage does MassMutual offer?

MassMutual offers the protection of term and permanent life insurance at affordable rates that depend on your overall health and specific needs.

Standard policies offered by MassMutual include:

  • Term life. Affordable coverage offers guaranteed protection for 10 or 20 years. After your term, premiums increase or take advantage of conversion to a permanent policy without a medical workup.
  • Whole life. This permanent policy allows you to build cash value to tap into for college tuition, retirement or unexpected emergencies. You’re also eligible for dividends.
  • Universal life. These flexible plans allow for permanent coverage with flexible payments based on your accrued account value. Options for guaranteed death benefits can provide a lump-sum payment to your loved ones after death.
  • Variable universal life. This permanent option offers the advantage of investments that align with your financial goals.

If you’re denied coverage elsewhere, MassMutual is among a handful of insurers offering “guaranteed acceptance” life insurance. This high-risk option can provide security for you and your family, but typically at much higher rates than standard policies.

What’s not covered in my policy?

Standard policies don’t cover much beyond the benefit you’ve signed up for over your policy term.

But with a rider, you can pay a fee to take advantage of greater protection against unexpected misfortunes, stronger renewable terms, supplemental coverage, premium waivers and more.

MassMutual’s many riders vary by policy, but include:

  • Guaranteed insurability. Allows you to increase your policy later, no matter your future health.
  • Renewable term coverage. Combine term life into your whole insurance policy with the ability to convert to permanent coverage later.
  • Protection against illness and disability. Provides some income if you fall ill or become disabled.
  • Benefit increases. Pay up your insurance to increase your death benefit and accelerate your cash value.

How can I get the best rate?

It’s not easy to nail down details about MassMutual’s “preferred” and “ultra preferred” rates.

Generally, the best rates across its policies are reserved for those with nearly perfect health. You might be required to meet eligibility requirements that include:

  • A minimal or no history of tobacco use.
  • No history of alcohol or substance abuse.
  • A personal and family health history free of specified disease or impairments.
  • A clean driving record free of DWIs, DUIs, suspensions and other convictions.
  • Healthy blood pressure and BMI.
  • Low-risk occupation or hobbies.

Speak with a MassMutual agent to learn more about how you can qualify for the lowest rates you’re eligible for.

How do I file an insurance claim with MassMutual?

MassMutual makes it simple to file a death claim without picking up the phone. Simply visit its claims page to start the process with information about the policyholder, your contact information and how you’d like to receive your claim packet.

MassMutual life insurance file a claim

Expect to wait up to three days to receive your claim packet. After submitting your packet and documentation, a MassMutual examiner reviews your claim. Once MassMutal receives all information your benefit payment should arrive within 10 business days.

You can also speak directly with a representative at 800-272-2216 Monday to Friday from 8 a.m. to 8 p.m. Eastern time.

What do others say about MassMutual?

MassMutual earns an A from the Better Business Bureau based on transparency, how they handle customer complaints and advertising practices, among other guidelines. And complaints are low compared with other insurers of its size.

Still, you’ll find negative reviews about poor customer support and specific benefit payouts — problems shared by other life insurance companies.

MassMutal holds a strong financial rating and credit outlook, reflected in A.M. Best’s A++ rating. This can provide peace of mind knowing your benefits are covered.

What other services does MassMutual offer?

MassMutual’s services outside of life insurance include:

  • Disability insurance. Helps you continue to meet your expenses if you become disabled. Customize your coverage through riders that can protect your income and retirement.
  • Long-term-care insurance. Depending on where you live, you might be able to cover ongoing expenses if you’re chronically ill or require living assistance.
  • Medical supplement. Close the gap between your health insurance and actual expenses.
  • Annuities and IRAs. From deferred fixed and income annuities to IRAs, MassMutual can help you save for the future.
  • Mutual funds and trusts. Investment vehicles with advisors that help you reach your financial goals — wherever you are in life.

Bottom line

Consistent positive ratings for support and financial stability may give MassMutual an edge over its competitors. Through a series of policy options and riders, including its guaranteed acceptance life insurance, you have a good chance of finding the coverage you’re looking for. And unlike many insurers, it allows you to get quotes online for certain policies in less than 30 minutes.

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