MassMutual Life Insurance has a long history of delighted clients and solid financial performance, which gives them a competitive edge. Due to the wide number of policy options and riders available, you should be able to obtain the insurance coverage you require. Let’s take a look at the MassMutual Life Insurance Review to learn more about their products and services.
- MassMutual life insurance rates
- What affects my rate with MassMutual
- How to get a quote from MassMutual life insurance
- What types of life insurance coverage does MassMutual offer?
- Can healthcare workers get free life insurance during the COVID-19?
- What riders can I add to my policy?
- MassMutual life insurance reviews and complaints
MassMutual life insurance rates
A $250,000 20-year term insurance policy with MassMutual costs $160 per year for a healthy 30-year-old guy. However, there are other variables that will affect the ultimate amount you pay, including the following:
- Type of policy
- Height and weight
- Health issues
- Health history
- Tobacco use
What affects my rate with MassMutual
The healthiest clients receive the greatest deals. To qualify for lower prices, you must satisfy the following criteria:
- Tobacco usage does not have to be a part of an individual’s history.
- A person who has never been a drug or alcohol addict
- Medical information about you and your family members that is not associated with any known illnesses or ailments.
- A clean driving record that is not marred by DWI/DUI/SUSPENSION/OTHER CONVICTION.
- Weight and blood pressure within normal limits
- Hobbies and jobs with a low risk factor.
How to get a quote from MassMutual life insurance
To receive a policy, you only need to complete an online application. Follow the instructions below on the MassMutual website:
- To begin, navigate to the section titled How much life insurance do I require? to determine how much you require.
- Enter your name, date of birth, and zip code in the fields provided, then click the “Get a Quote” button.
- Click the Get Started button to begin the process.
- The ages of your family members can be entered here, as well as financial information such as how much money you intend to spend on education and a property, if applicable.
- The button labeled “Calculate” will provide you with your results.
- Once you’ve reviewed the figures, navigate to the online application page and click the Apply Now button.
- It is critical that you completely fill out the information card, including selecting your insurance and the level of coverage.
- Create an account if you do not already have one.
- It’s as simple as hitting the Finish button to submit the application.
What happens next?
The likelihood of your application getting accepted quickly is nil. If you have any health problems, your application will be delayed.
After being accepted, you will be able to log in and utilize the system’s features by creating an online account. Additionally, you’ll be required to make your initial payment, which may be completed online.
What types of life insurance coverage does MassMutual offer?
MassMutual is a life insurance company that offers both term and permanent life insurance.
- Term life. The short-term policy provides coverage for ten to thirty years. At the end of the policy’s term, you can convert all or part of your policy to a permanent whole life insurance policy without having to undergo another medical exam.
- For the rest of my days. You can use the cash value in this long-term insurance policy to pay for college tuition, retirement, or other unforeseen expenses. Dividends are a possibility if you’re interested in them.
- Existence for all beings. With these flexible plans, you may have your insurance coverage in place for as long as you like while paying for it on an as-needed basis. Guaranteed-death-benefit insurance can pay a lump amount to your remaining family members in the event of your death.
- There is a 100% chance of success. Only a few insurers, like MassMutual, will sell you life insurance regardless of your health situation. There are certain limits, such as being between the ages of 50 and 75 to qualify for the reduced prices.
Can healthcare workers get free life insurance during the COVID-19?
Yes. MassMutual’s HealthBridge program will begin giving free life insurance to healthcare professionals on July 30th. Between the ages of 18 and 50, a $25,000 term insurance is available; between the ages of 51 and 60, a $10,000 term policy is available. A physician assistant or nurse practitioner earning less than $250,000 per year is eligible for coverage.
Eligibility is based on ten hours of employment or volunteerism per month at a COVID-19 testing or treatment facility. The Massmutual website has an application form for qualified healthcare workers.
What riders can I add to my policy?
MassMutual charges an extra fee for a variety of insurance riders. Certain riders may or may not be included in the policy, depending on the kind of insurance. The following are some popular options.
- Accelerated death benefit rider. If you have been diagnosed with a terminal disease with a life expectancy of fewer than 12 months, the majority of your death benefit is accessible.
- Rider for conversion. To be eligible for this rider, you must have been covered by your term plan for fewer than ten years and be at least 65 years old.
- Rider provides for guaranteed insurability. You may be able to raise your death benefit without demonstrating your health at particular ages. Individuals who purchased whole life insurance policies as youngsters have the option of increasing their coverage as they mature.
MassMutual life insurance reviews and complaints
Despite the company’s solid BBB rating, MassMutual’s rating was recently lowered to B- due to the company’s lack of reaction to consumer complaints. According to the BBB report, this life insurance company got 53 complaints over the preceding three years, the majority of which concerned customer service and benefit distribution issues. AM Best A++ is the highest possible grade for this firm.
You may also want to check out our Lumico Life Insurance Review to see what they have to offer.