Mass Mutual Life Insurance Review

Written by Jeff Root

MassMutual has been around since 1851.  They are a company dedicated to living mutual and striving for a secure life that is happier and more fulfilling for each of their clients.

The advisor team is comprised of roughly 10,000 individuals who helped to deliver five billion dollars in benefits annually to customers and offer 560 billion dollars in life insurance protection.

Financial & Customer Service Ratings

Company A.M.Best Customer Reviews
A.M. Best Rating A++ $8.08/mo.
Fitch’s AA+ $11.61/mo.
Moody’s  Aa2 $17.63/mo.
S&P AA+ $28.89/mo.
Comdex Score 98 $28.89/mo.
J.D. Power & Associates 787 $28.89/mo.

Mass Mutual Product Offerings

Whole Life Insurance

MassMutual has a permanent policy that gives you cash value which you can use however you see fit. Whole life insurance policies are eligible for dividends which you can use to increase your cash value and your death benefit. You can also use your dividends to pay for your premiums.

With MassMutual, the death benefit is guaranteed which means that no matter how long you live or what conditions arise in the future as long as you have paid your premiums on time your loved ones will receive your death benefit.

With this whole life insurance policy if build cash value with the time that you can use to supplement your retirement, cover emergency costs, or pay for college. While it is not guaranteed you do have the opportunity to earn dividends with this policy and MassMutual has paid dividends to policy owners annually since 1869.


  • Guaranteed Level Whole Life Coverage – You pay consistent life insurance rates for the entire life of your policy, and your death benefit remains the full face amount from the first day of coverage.
  • Guaranteed Death Benefit – Your death benefit is guaranteed to pay out until the policy maximum age of 100 years old.
  • Guaranteed Cash Value Accumulation Dividends – Being a Mutual Company, MassMutual returns a certain percentage to their policyholders each year.  In 2018, this return was 6.40%.

Policy Types:

  • Whole Life Legacy 10 Pay – A whole life insurance policy that is paid up in full after 10 years.
  • Whole Life Legacy 20 Pay – A whole life insurance policy that is paid up in full after 20 years.
  • Whole Life Legacy 100 – Whole life insurance coverage that lasts through age 100.
  • Whole Life Legacy 65 – Whole life insurance coverage that paid up at age 65.
  • Whole Life Legacy High Early Cash Value – As the name states, this policy is geared towards generating cash value faster in the early stages of the policy than other whole life policies offered by MassMutual. This policy is paid up at age 85 and coverage lasts through age 100.

Universal Life Insurance

Death benefit from a universal life insurance plan keeps your family protected. You have an option to guarantee a death benefit as long as premiums have been regularly paid to date.

The premiums are flexible too. AS long as you have enough value in your policy to cover any administrative and insurance costs, you get to decide how much of your premium to pay, within the provided limits.

This means you can choose to pay less when you need more cash or pay more when you have extra income.

The accounts can build in value. If the account builds enough value then you get to borrow from your policy and use that money for whatever reason you have.

Variable Universal Life Insurance

With the variable universal life insurance, you have permanent coverage which affords you the chance to make investments as you see fit, within the parameters of your policy. The variable universal life insurance policy lets you enjoy flexible premium payments.

You also get to choose the number of your premium payments and how frequently they are made. This policy gives you access to many investment options so you can align your investments with personal goals and risk tolerance. With MassMutual, you get a level death benefit or a death benefit with an account value.

The death benefit can then be used to replace any lost income or provide an inheritance for those you leave behind. So long as you have enough value in the account to cover administrative and insurance costs, you can vary the premiums that you pay and determine not only when you pay but how much you pay.

These accounts also offer the chance to build cash value which you can borrow once you have reached a certain accumulation point and use however you see fit. The variable policy allows you to allocate premium dollars to whatever of the available investment options you choose or use the Guaranteed Principal Account. The guaranteed account has fixed rates, and the amounts allocated earn a guaranteed rate of interest every day.

Term Life Insurance

Vantage Term is the name of the MassMutual policy. With this, you can get increments such as 10 years and 20 years, perfect for providing Financial Protection with an end date in mind. At the end of their term policies, you can convert into a permanent policy if you see fit.

With the term life insurance policy, you get a death benefit that provides a lump sum payments to cover things like your mortgage, income, or College tuition. This is a much more affordable form of coverage compared to the whole life insurance policies. The term policies they offer are Level which means the premiums remain guaranteed for a set length of time, the most typical of which are 10 year or 20-year increments.

After this point, you can renew the policy but your premiums will increase significantly. At the end of your Term Policy, you do have the option of converting to a permanent policy without having to undergo any additional Examination for medical questions. At that point, you could begin to receive other Financial benefits like cash value.


  • Convertible at the end of the term.
  • Level premiums.
  • 10 or 20-year lengths.

Long Term Care Insurance

SignatureCare is the long-term care insurance offered by MassMutual. Benefits of the policy include the ability to have access to money when you are hit with an unexpected illness or injury.

Long-term care availability and combinations with life insurance will vary from one state to the next. Nonetheless, these products provide for situations where you need long-term care because of an unexpected accident or illness or impairment.

Such situations make it critical that you take action to provide for your future. If you have the long-term care policy you can cover your expenses and then determine how and where you want any assistance. This particular product can help you to protect assets while simultaneously maximizing your independence.

How it Works:

The cost for long-term care increases annually so you need to plan ahead. This form of protection provides you with a pool of benefits which you can use to cover these care expenses. This protects you from having to use all of your savings to cover it or harm the financial future of your family.

You get reimbursements for the services that you need to use in order to maintain your quality of life. This might include coverage for community-based care facilities or in-home care, even a nursing home. You can get reimbursements for things like help eating, bathing, or getting out of bed.


  • Maximize options for care
  • Protect assets

Guaranteed Acceptance Life Insurance

MassMutual has a simplified issue whole life insurance policy that gives you coverage specifically. There is no medical exam required for this. You can apply quickly without answering anything other than a few health questions.

The number of covered ranges between $2,000 and $25,000 and the rates begin at less than $7 per month.

This is a whole life insurance policy so it is designed to last for the rest of your life as long as you continue to make timely payments. The coverage amount never goes down and the premiums never go up.

If you do not qualify for the simplified issue they do also have a guaranteed acceptance life insurance policy for anyone between the ages of 50 and 75. For the guaranteed issue you cannot be denied coverage and you do not ask any health questions.


  • Guaranteed acceptance, regardless of age or health history.  
  • No health questions asked.
  • Coverage up to $25,000.

MassMutual Life Insurance Policy Riders

Paid-Up Additions

This allows policyholders to increase their face amount of death benefits by paying up for this additional coverage.

Guaranteed Insurability

Allows policyholders to take out additional coverage, convert a policy, or take out a new policy without the need for medical evaluation.

Term Rider

This is a supplement for permanent life insurance policies that allow you to purchase additional term coverage that adds on to the death benefit of your permanent coverage.

LTCAccess Rider

This rider allows the insured to plan for long-term care (LTC) needs in the future, and offers some coverage for them in the event that they one day require long-term care in a hospice or assisted living facility.

Waiver of Premium

Waiver of premium waives any premiums owed by policyholders who become disabled and are unable to return to work full time as a result. A certain portion of the death benefit is paid out each month as supplemental income while disabled.

Accelerated Death Benefit Rider

This rider allows the insured to receive a portion of their death benefit early if they are diagnosed with a terminal illness and have less than 6 months to live.

Is MassMutual Life Insurance Good for You? 

Before you head out and start buying from Mass Mutual, be sure to compare quotes. While this is a great company, you might find better offers more appropriate to your situation the more you look.

Obtaining life insurance is actually easier than you might think. You can get the coverage you want for yourself and for your loved ones when you compare different life insurance companies. Whether you want permanent or term life insurance, you can compare quotes online with ease.

The best way for you to save money is by shopping around. You want to compare quotes from multiple companies. Start big and narrow it down. 

We work with some of the best life insurance companies on the market for both term and permanent life insurance policies. Our independent life insurance agents work with dozens of the best companies and can help you compare rates and policies to find the best coverage for you and your loved ones. 

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