March, 25 2017

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MassMutual Life Insurance Review 2016

MassMutual Life Insurance Review 2016

Author
  • Price
  • Underwriting
  • Financial Strength

MassMutual Life Insurance Review 2016

Pros:  Financial Strength– MassMutual (Mass Mutual) has the highest financial rating available in 2016 from A.M. Best with an A++ (Superior) rating. Size and Stability– MassMutual is one of the largest life insurance companies in America and have been in business for more than 160 years.  They also have consistently paid dividends to their whole life policy holders since the 1860s. Mutual Company– As the name implies, Mass Mutual is a mutual company meaning it’s owned by the policy holders.

Cons:  Price– MassMutual Life Insurance is expensive for term life insurance compared to the other top life insurance companies in America (see price comparisons below).  Underwriting– Since MassMutual is a mutual company their underwriting is more strict then many other top insurers which could lead to an even higher rate or a decline.

Bottom Line:  MassMutual is one of the largest life insurance companies in America by market share.  They have the highest financial rating available A++ putting them in an elite category when it comes to financial strength for an insurance company.  Mass Mutual is a very large and safe insurance company that has been in business since the mid 1800’s.  However, when it comes to pricing on term life insurance they do have higher prices then many of the other top life insurance companies.  As with all the companies we review, we recommend that you receive a quote from MassMutual Life Insurance and also from the other top companies and choose the best one for you.

 

About

Type: Mutual

Underwriter: Massachusetts Mutual Life Insurance Company

Founded: 1851

Website: www.massmutual.com

Phone: (413) 788-8411

Address: 1295 State Street, Springfield, MA 01111

A.M Best Rating: A++ (Superior) Highest rating of 16 possible ratings

Comdex Ranking: 98 out of 100

BBB Rating: A+

Competition: MetLife, Northwestern Mutual, NY Life, John Hancock, Principal, State Farm, Allstate, AIG, Ohio National Life, SBLI, Banner Life, Protective Life, Primerica, State Farm, USAA, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica.

 

MassMutual Term Life Insurance 2016 Price Comparison

Sample monthly prices for $500,000 20 year term life insurance policy for a 40-year old male (D.O.B. 6/15/1975) at the best health class:

 

Company Price Rating

Pacific Life: $32.51 A+

Mutual of Omaha: $33.47 A+

Protective Life: $33.03 A+

AIG: $33.65 A

SBLI: $35.58 A+

Banner Life: $36.30 A+

MetLife: $36.81 A+

TIAA-CREF Life: $38.15 A++

Voya: $39.38 A

Nationwide: $40.05 A+

Transamerica: $40.86 A+

AXA Equitable: $41.06 A+

Lincoln National: $41.13 A+

Guardian: $43.34 A++

Prudential: $43.65 A+

State Farm: $45.70 A++

MassMutual: $46.11 A++

Primerica: $47.98 A+

New York Life: $53.84 A++

 

 

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