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MassMutual Life Insurance
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MassMutual Life Insurance Review
Where does MassMutual Life Insurance do business?
MassMutual Life Insurance is an insurance carrier based in Springfield, MA. The company was founded in 1851 and offers life insurance in 50 states (and Washington, DC). Life insurance is important for anyone who has loved who depend on them financially. It can also help with final expenses and burial costs.
What types of life insurance coverage does MassMutual Life Insurance offer?
Insurance carries typically offer a wide variety of policies. One of the best ways to save money on life insurance is to avoid unnecessary coverage. Only purchase policies and riders you actually need.
Here is a brief description of the coverage MassMutual Life Insurance offers.
- Term Life Insurance - This is the simplest type of life insurance. It is payable if the insured person dies within a specific period of time, such as 5, 10, or 30 years. MassMutual Life Insurance offers term lengths ranging from 10 to 20 years. Death benefit amounts range from $100,000 to $3,000,000.
- Level Term Insurance - These are term policies that have the same fixed premium and payment amount throughout the life of the policy.
- Whole Life Insurance - Whole life insurance policies remain in force for the entire life of the policyholder provided premiums are paid. Whole life benefit payments range from $2,000 to $25,000.
- Universal Life Insurance - This type of policy guarantees a fixed death benefit and an investment account. The cash value of the investment account will vary depending on the portfolio's performance.
- Variable Universal Life Insurance - Provides the most flexibility when it comes to investing the cash value of a universal life policy in separate accounts with "variable" values.
As well as the basic coverage types mentioned above, MassMutual Life Insurance also offers the following policies:
- Guaranteed Issue Life Insurance - These policies offer a cash death benefit to the beneficiary. All coverage applications are approved regardless of health concerns. The catch is these policies usually have lower death benefits and higher than normal premiums.
How can you save money on a MassMutual Life Insurance life insurance policy?
When you ask for a quote with MassMutual Life Insurance, ask what policy discounts are available.
- Being a non-smoker
What is the financial strength rating of MassMutual Life Insurance?The financial strength rating of a life insurance company scores its ability to pay contracts and policies.
Each agency has its own standards and rating scale and a company's rating can change any day. It's a good idea to check the financial rating of an insurance company before you purchase a policy.
There are five main rating agencies. SuperMoney's financial strength rating is based, among other factors, on the average score from available ratings.
MassMutual Life Insurance scores an A+, SuperMoney's highest available rating.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia