MassMutual Life Insurance Review

MassMutual Life Insurance has a leg up on the competition because of a long track record of favorable customer feedback and solid financial performance. Because of the wide range of policy options and riders, you should be able to locate the insurance coverage you want.

MassMutual life insurance rates

MassMutual Life Insurance Review - MassMutual Insurance Logo

For a healthy 30 year old guy, a $250,000 20-year term insurance from MassMutual costs $160 per year. However, a number of factors will determine the final rate you pay, including:

  • Type of policy
  • Age
  • Gender
  • Height and weight
  • Health issues
  • Health history
  • Tobacco use

What affects my rate with MassMutual

Those in the best health get the finest deals. To be eligible for lower rates, you must be able to:

  • No prior history of tobacco usage is required.
  • Has no prior history of alcoholism or drug usage
  • Background medical information about yourself and your family, free of any known diseases or disabilities
  • DWI/DUI/SUSPENSION/OTHER CONVICTION-FREE driving record
  • A BMI and blood pressure that are within normal ranges
  • Hobbies and professions with a low level of risk

How to get a quote from MassMutual life insurance

Getting a policy is as simple as filling out an online application. Visit the MassMutual website and perform the following actions:

  1. To find out how much life insurance you need, go to the section titled How much life insurance do I need?
  2. Enter your name, date of birth, and zip code in the boxes provided, then click on the “Get a Quote” button.
  3. Press the Get Started button to begin the process.
  4. If applicable, enter the ages of your family members as well as financial details like the amount you want to spend on education and a house.
  5. To get your results, click on the button that says “Calculate
  6. Examine the figures and click on the Apply Now button in the online application area when you’re done.
  7. The information card must be filled out in full, including selecting your insurance and the level of coverage that you choose.
  8. Create an account if you don’t have one already.
  9. Once you’ve finished filling out the application, click the Submit button.

What happens next?

It’s possible that your application will be approved right away. If you have any health issues, your application will be delayed to an underwriter.

Once you’ve been accepted, you’ll be prompted to create an online account by the system. Aside from that, you’ll have to make your initial payment, which you may do using your online account.

What types of life insurance coverage does MassMutual offer?

There are two types of life insurance offered by MassMutual: term and permanent.

  • Term life. It’s short-term coverage that covers you for 10-30 years. Your premiums will skyrocket towards the end of the policy’s term, but you have the option of converting all or part of it into a permanent whole life insurance without having to undergo another medical test.
  • For the rest of my days. If you need to pay for college tuition, retirement, or unforeseen expenses, you may use the cash value you accumulate with this long-term insurance. Dividends are also an option if you’re interested.
  • Existence for all beings on the planet. These adaptable plans allow you to keep your coverage as long as you like while paying for it as you go based on the worth of your account. Guaranteed-death-benefit plans can pay out a lump amount to your surviving family members in the event of your death.
  • There is a 100% chance of success. Only a few insurers, such as MassMutual, will offer you a life insurance policy regardless of your health status. There are restrictions, such as having to be between the ages of 50 and 75 to qualify for lower rates.

Can healthcare workers get free life insurance during the coronavirus?

Yes. MassMutual’s HealthBridge program will begin giving free life insurance to healthcare professionals on July 30th. For individuals between the ages of 18 and 50, a $25,000 term policy is included; for those between the ages of 51 and 60, a $10,000 term policy is included.

Doctors, nurses, nurse practitioners, and physician assistants making less than $250,000 a year are eligible for the coverage. Work or volunteer for 10 hours a month at a facility that performs COVID-19 testing or treatment on patients in order to be eligible for the program. Healthcare professionals who meet the requirements can submit an application on the Massmutual website.

What riders can I add to my policy?

For an extra fee, MassMutual provides a variety of riders to supplement your insurance. Depending on the kind of coverage, some riders may or may not be available. The following are a few well-liked choices:

  • Accelerated death benefit rider. If you’ve been diagnosed with a terminal disease with a life expectancy of fewer than 12 months, you can take the majority of your death benefit out with this rider.
  • Conversion rider. This rider allows you to change your term insurance into a whole life policy before you reach the age of 65, or even after you reach the age of 65 if you’ve owned the policy for fewer than 10 years now.
  • Guaranteed insurability rider. At certain ages, you can enhance your death benefit without proving your health. As they get older, individuals can enhance their coverage under whole life policies purchased as youngsters.

MassMutual life insurance reviews and complaints

Although MassMutual’s Better Business Bureau (BBB) rating is normally excellent, it was recently lowered to a B- owing to the company’s failure to react to customer concerns in a timely manner. This life insurance company’s BBB report shows that in the last three years they’ve received 53 complaints, many of which focused on poor customer service and particular benefit distribution issues. AM Best A++ is the highest possible rating for this business.

You may check out our Lumico Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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