American National vs. MassMutual: Best Life Insurance Company in 2021

American National vs. MassMutual life insurance options are similar, but MassMutual's policies are cheaper across the board. However, American National provides a wider range of term life insurance plans to select from, one of which may better suit your needs. Both companies also offer retirement plans in the form of MassMutual Retiresmart and American National Annuity.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Quick Facts

  • MassMutual term life insurance policies are significantly cheaper, especially for men
  • American National offers a wider variety of term life insurance plans than most providers
  • In addition to life insurance, both companies also offer retirement plans

Selecting the best life insurance policy can seem like a daunting task, given the staggering number of providers and plans on the market. In this article, we’ll compare and contrast American National vs. MassMutual life insurance companies.

Although American National and MassMutual each offer term life insurance quotes as well as whole life insurance plans, it’s worth taking a deeper dive into the specific strength and weaknesses of both companies.

It goes without saying that American National and MassMutual aren’t your only options. Enter your ZIP code for a free breakdown of life insurance providers in your area.

American National vs. MassMutual: What life insurance products do they offer?

Life insurance terms can be confusing if you don’t know what they mean. The two most common types of life insurance policies are term life insurance and permanent life insurance.

Term life insurance covers the insured only for a specified period of time, while permanent life insurance policies offer whole-life coverage.

Before settling on an insurance provider, it’s wise to familiarize yourself with a given company’s policy options and how they stack up to the competition.

Although American National accounts for a relatively small piece of the life insurance marketplace, they punch above their weight class in terms of the variety of different life insurance plans available.

American National’s list of insurance offerings includes:

  • Term life insurance
  • Whole life insurance
  • Universal life insurance
  • Guaranteed-issue life insurance
  • Indexed universal life insurance

One of American National insurance company’s selling points is the unusual variety of term life insurance plans they have available for customers to choose between.

In addition to the standard 10, 20, and 30-year term life insurance policies, American national also offers five and 15-year plans, which are rarely found at their competitors.

Life insurance plans aren’t the only products for sale at American National. American National annuities are a low-risk, tax-deferred supplementary savings fund customers can use to prepare for the future.

MassMutual is a prominent life insurance company. Their life insurance offerings include term insurance, permanent life insurance policies, and variable life insurance.

While they aren’t cheap, MassMutual permanent life insurance plans carry the added benefit of accruing interest over time.

Like American National, MassMutual’s service docket also includes retirement plans. MassMutual Retiresmart is the company’s proprietary portfolio of select 401k and pension plans.

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American National vs. MassMutual: Which company offers better rates to men?

Life insurance policy premiums aren’t set in stone. Factors such as age, gender, smoking habits, and medical history all play a part in the specific monthly rate providers quote insurance applicants.

Keeping that in mind, we’ll examine the different monthly rates American National and MassMutual offer men who select the conventional 20-year term life insurance plan.

AgeAmerican National Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)MassMutual Average Monthly Rates for a 20-Year Term $100,000 Policy (Male)
25$15.98$10.36
35$16.68$10.79
45$30.76$17.93
55$65.06$39.24
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In general, men tend to have slightly higher monthly life insurance premiums than women. But as you can see, MassMutual does offer men competitive rates, particularly compared to American National.

American National vs. MassMutual: Which company offers better rates to women?

Women typically pay less than men do for all types of insurance, including life insurance. So which company provides female customers with better monthly rates – American National, or MassMutual? We’ll compare pricing differences for the $100,000 20-year term life insurance policy.

AgeAmerican National Average Monthly Rates for a 20-Year Term $100,000 Policy (Female)MassMutual Average Monthly Rates for a 20-Year Term $100,000 Policy (Female)
25$14.17$9.66
35$15.81$9.84
45$24.80$15.06
55$47.17$29.24
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The contrasting life insurance pricing trend continues as MassMutual offers consistently more affordable rates to women of all ages. That said, women can expect to pay higher premiums as they age.

American National vs. MassMutual: Which company is better reviewed?

In addition to the types of available insurance plans a company offers and their associated costs, you might also want to factor in the company’s credit worthiness.

The following table provides a visual overview of each life insurance company’s credit ratings as compiled by several third-party agencies:

Credit Ratings of the Top 10 Life Insurance Companies

CompaniesA.M. BestBetter
Business
Bureau
(BBB)
Fitch RatingsMoody'sStandard & Poor
(S&P)
State FarmA++A+N/AAaAAA
Northwestern MutualAA+A-AAAAaaAA+
New York Life GroupA++A+AAAAaaAA+
MassMutualA++B-AA+AaaaAA+
MetlifeA+A-AA-AaaaAA-
Lincoln FinancialA+A-A+AaAA-
Aegon / TransamericaA+NRA+AaaaA
John HancockA+A+AA-AaaAA-
Minnesota Life / SecurianA+BAAAaaaAA-
Prudential FinancialA-B-A+AaaaA
National AmericanA-NRA-AaaaA
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A key set of figures to zone in on are A.M. Best’s ratings. A.M. Best evaluates insurance provider’s long-term financial stability – i.e., the likelihood they’ll be able to redeem your policy. While both companies score well, MassMutual is ahead by a nose.

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American National vs. MassMutual: The bottom line

Purchasing a life insurance policy isn’t something you should without careful consideration. While MassMutual’s monthly rates and credit ratings are superior across the board, American National’s variety of term insurance policies might be right up your alley.

Looking for a more detailed breakdown of each company’s pros and cons? Check out our American National life insurance review and our MassMutual life insurance review.

Hopefully, we have helped you decide between American National and MassMutual. To compare rates from top companies, type your ZIP code into our free search tool and find the life insurance plan that best suits your needs.

American National vs. MassMutual: Frequently Asked Questions

Below we’ve compiled a selection of frequently asked questions regarding American National vs. MassMutual.

#1 – How can I contact American National’s life insurance division?

American National life insurance’s phone number is 1-(800)-615-7372.

#2 – How can I buy MassMutual life insurance?

MassMutual’s phone number is 1-(800)-272-2216, where insurance agents will help you select the right plan for your needs.

#3 – How do I log in to my American National or MassMutual life insurance accounts?

The procedure is basically identical for both providers. Navigate to the company websites where you’ll find the American National login and MassMutual login right on the homepages. Enter the necessary info and accessing your life insurance account should be a cinch.

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