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Mass Mutual Term Life Insurance Review– The Massachusetts Mutual Life Insurance Company, or as it is more commonly known, “Mass Mutual” is a top rated life insurance company with an A++ from A.M. Best and a company history that goes back over 100 years. That said, Mass Mutual is not for everyone. They aren’t the best life insurance company for every situation. There are actually many reasons why you may want to think about going with one of their competitors.
You can start comparing rates right here using our free online quote tool, but in the meantime, continue reading to learn about aspects you should consider before choosing Mass Mutual.
Mass Mutual Insurance Company
Mass Mutual has an excellent financial rating by A.M. Best - however, their term life insurance options are limited and can be more expensive vs the competition.
Mass Mutual Can Be Difficult for “High-risk” Applicants
If you have a preexisting medical condition, you may be classified as a “high-risk” case. See, insurance premiums are based on health ratings that are determined by your current state of health and medical condition, with the cheapest rates being Preferred Plus and the most expensive being Substandard.
Mass Mutual tends to be overly cautious with applicants who have preexisting medical conditions, and you may end up paying more expensive rates even with lesser, non-threatening conditions. So, if you have a preexisting condition like high cholesterol, diabetes, high blood pressure, etc., you will probably want to go with another company.
Mass Mutual’s Term Options Are Limited
Companies that specialize in term life insurance should have a healthy range of term length options. While Mass Mutual does offer term lengths of 10, 15, and 20 years, they unfortunately do not offer 25 or 30-year terms. This may not be of much concern to people who are over 50 years old, but if you are younger, chances are you’re going to need that longer term length.
Mass Mutual Rates are Expensive
We work with over 60 of the highest rated insurance companies in the USA and are familiar with the policies of a lot more. When it comes to Mass Mutual’s rates, they just don’t measure up to the competition when it comes to affordability. To put it all into perspective, let’s look at an example based on a real-life scenario:
Here are what she’s likely to be offered from some of the top companies, including Mass Mutual:
- SBLI: $305 Annually
- Protective Life: $310 Annually
- Banner Life: $310 Annually
- American General: $349 Annually
- Genworth: $362.85 Annually
- Transamerica: $375 Annually
- Mass Mutual: $415 Annually
As you can see, Mass Mutual is a lot more expensive. In fact, “Rose” could end up saving around $110 every year if she opts to go with another company. At the end of the 20-year term, she would end up saving $2,200.
Will Mass Mutual give you the best rate?
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You’ll see our instant life insurance calculator where you will compare rates from dozens of the top companies.
Nothing too complicated, it just needs the basics about what you’re wanting, how much coverage, for how long, etc. That way we can understand your situation before we can help you.
Complete the calculator details as accurately as possible, and be absolutely sure your contact information is correct so we can reach you.
Here's what will happen next
Once you’ve filled out the calculator, one of our licensed life insurance agents will reach out to you to provide you all your options and plan out who will provide you the best rate based on your specific health and lifestyle.
All of the recommendations will be based off of the details you provide. It’s very important that you’re honest and answer your agent’s questions accurately.
This is where we really begin working to figure out exactly which company will get you the best rate, and how to make it happen. There are literally hundreds of companies and thousands of policy options available. We’ll make sure you get the best one.
You Can Get Cheaper Rates By Comparing Companies
We are an independent insurance agency, meaning we aren’t paid or offered incentives by any life insurance provider to cast them in a better light or push their services on applicants. Instead, we compare rates across 60 of the top insurance companies to find the best ones for you. Now that you know that, you should also know that there are many Mass Mutual agents who will only show you rates from Mass Mutual, regardless of whether or not they have access to those of other companies.
If you’re not sure where to begin, give us a call. Our agents provide a free, no-pressure, educational approach to life insurance. We’ll compare dozens of the top companies in minutes to show you your most affordable options. Toll Free: (888) 411-1329
Mass Mutual Term Life Insurance Review
Thank you for reading our post, Mass Mutual Term Life Insurance Review. You can get started with free life insurance quotes by using the quote tool on this page.
Mass Mutual Life Insurance Company Details
Name(s): Massachusetts Mutual Life Insurance Company; MassMutual Financial Group; C.M. Life Insurance Company
1295 State Street
Springfield, MA 01111
Ratings: A.M. Best (A++), Fitch (AA+), Moody’s (Aa2), Standard & Poor’s (AA+)