MassMutual Life Insurance Review [2021]

MassMutual life insurance is a top-10 life insurance company based on market share. MassMutual ratings boast an A.M. Best A++ and J.D. Power rating above the industry average. Get cheap MassMutual life insurance with MassMutual Direct Term starting at just $8.36/mo. Always compare life insurance quotes before you buy life insurance.

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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 life insurance ranks in the top 10 in market share.
  • MassMutual offers affordable term life insurance and various permanent life insurance options.
  • MassMutual ratings for financial standing and consumer satisfaction are high.

If you’ve considered shopping for life insurance, you’ve likely come across MassMutual Life Insurance. MassMutual has flexible permanent life insurance options and cheap term life insurance quotes.

Buying life insurance is a big commitment, we get it. That’s why we’ll guide you through the MassMutual life insurance ratings, MassMutual life insurance rates, and what MassMutual life insurance policy is best for you.

Excited to get MassMutual life insurance quotes? Don’t forget to compare rates from top life insurance providers using our FREE quote tool above.

Is MassMutual Life Insurance right for me?

MassMutual is a competitive life insurance provider, but is MassMutual a good life insurance company? That’s hard to say. MassMutual has an assortment of life insurance products that may or may not suit your needs. In this section, we’ll cover the MassMutual complaints and customer satisfaction, ratings, and more about MassMutual.

The ratings for MassMutual life insurance are positive for current financial standing and its long-term outlook according to A.M. Best. MassMutual consistently has above-average ratings when compared to other industry leaders.

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MassMutual ratings are high for both customer satisfaction and financial strength. The J.D. Power rating for MassMutual makes them a top-10 life insurance company based on consumer satisfaction.

The Better Business Bureau has rated MassMutual as a B- overall. The company has a significant number of complaints about products and services, but most large companies are expected to have a fair number of complaints.

The ConsumerAffairs reports for MassMutual show the biggest room for improvement for the company. The average rating was just 2.5 out of 5.0 for MassMutual which is likely their worst overall rating.

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There are a reasonable number of complaints via the National Associations of Insurance Commissioners (NAIC) complaint index for MassMutual. There appears to be a greater complaint prevalence for MassMutual permanent life insurance policies.

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What life insurance policies does MassMutual have?

With so many life insurance options, you’ll want to know which are available through your company. Even if you don’t choose one type today, you might want to convert to that type at a later date. So, what life insurance policies are available from MassMutual?

MassMutual has whole life insurance, universal life insurance, and term life insurance options. Many companies will focus on just term or permanent life insurance, so having both available through one company is a luxury.

What’s the best MassMutual life insurance policy for you? This is a tough question to answer with so many variables. You’ll want to consider your needs when reviewing the MassMutual life insurance policies before you make any major decisions.

If you’re just looking for affordable MassMutual life insurance, you might want to stick to term life insurance. If you’re looking to use your life insurance policy as an investment, MassMutual permanent life options might be better for you.

What is MassMutual Direct Term life insurance?

Term life insurance is a desirable life insurance option for those who are searching for cheap MassMutual life insurance. What term life insurance options from MassMutual are out there? MassMutual offers Direct Term life insurance policies in standard forms.

Available for those between 18 and 64 years old, MassMutual Direct Term can be offered in 10-, 20-, or 30-year terms. This means that if you purchase a 20-year term life insurance policy when you’re 25, you’ll be covered until you’re 45 as long as you pay your monthly premiums.

If cost is your primary driver when looking to buy MassMutual life insurance, MassMutual Direct Term is your best bet.

How much does MassMutual cost?

Life insurance prices can make or break a company and a policyholder. Nobody wants to incur a long-term debt they can’t afford. What are the MassMutual term life insurance prices?

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As you can see above, the cheapest MassMutual life insurance policies will be for young females. Keep in mind these rates are samples for females that are non-smokers and in good health.

MassMutual term life insurance prices for smokers will always be higher than they will be for non-smokers. This holds true for any life insurance company since smoking increases the risk of chronic diseases and potentially death.

What permanent life insurance options does MassMutual have?

If monthly premiums aren’t your primary concern, MassMutual permanent life insurance might be a more desirable option. Still, you may have some questions. Is MassMutual permanent life insurance a good investment?

MassMutual permanent life insurance options include whole life insurance, universal life insurance, and variable life insurance. What are the whole life insurance options from MassMutual?

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MassMutual whole life insurance is considered both an insurance product and an investment resource since it builds cash value. Cash value accrues since you’ll be expected to pay higher monthly premiums with a portion of that amount going into an investment account.

Over time, your whole life insurance policy should grow and also accrue interest. The more you pay in monthly premiums, the more you invest in your savings. That said, this isn’t the only MassMutual permanent life insurance option.

You’ll also find a couple of universal life insurance options from MassMutual. Universal life insurance is very similar to whole life insurance but tends to offer more flexible premiums. Need to pay less because of an unforeseen financial crisis? No big deal.

MassMutual also offers variable universal life insurance. What’s the difference between MassMutual universal and variable universal life insurance? With a MassMutual universal life insurance policy, MassMutual has a guaranteed rate of return, disclosed during underwriting.

Variable universal life insurance will have investment options that may have greater fluctuation with the market under the policyholder’s control. There is often more potential for growth with these policies, but with inherent risk, if there is a market collapse.

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What MassMutual life insurance riders are available?

Looking for flexibility? Concerned that your life insurance needs might change over time? Life insurance riders provide policyholders comfort in case of major changes while they are insured.

You never know what could happen. For example, you might end up in a nursing home and need extra income to battle your new debt; term life insurance with living benefits might help. So, does MassMutual offer life insurance riders?

AARP (New York Life) Life Insurance Coverages Details
Plan DetailsLevel Benefit Term Life InsurancePermanent Life InsuranceEasy Acceptance Life Insurance
Protection Amount$10,000 to $100,000Up to $50,000Up to $25,000; Limited benefit for first 2 years
Coverage PeriodUp to age 80Can last your entire lifeCan last your entire life, guaranteed acceptance* unless you are currently terminally ill
RatesAffordable initial rates that increase over timeGuaranteed rates that never increase for any reasonGuaranteed rates that never increase for any reason
No Medical ExamAcceptance is based on your answers to health questions and other information you provideAcceptance based on answers to health questions and other informationOnly one simple health question; Includes extra mortality risk charge
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When looking to buy MassMutual life insurance, consider any potential future changes and see if they have a rider that could help. At the end of the day, it’s better to have extra coverage than not enough.

How do I cancel my MassMutual life insurance policy?

Canceling a MassMutual Life Insurance policy might have different steps depending on the type of life insurance you have. For example, canceling a MassMutual term life insurance policy might be different than canceling their universal life insurance policy.

MassMutual customer service can be reached at 1-800-272-2216; they should be able to help direct you to cancel your policy. In some cases, you might be able to just cancel a payment. If you have universal life insurance, you might be able to postpone payments until you’re ready to pay again.

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There can be penalties when canceling permanent life insurance policies. Sometimes this means you’ll lose a portion of your cash value. A MassMutual customer service representative should be able to fill you in on all of their specific policies.

What is MassMutual?

MassMutual is a large mutual company that sells life insurance, annuities, brokerage funds, financial counseling, and more. They are considered a top competitor for both life insurance and annuities when compared to other industry leaders.

Accordia Life vs. Foresters Financial: Male 20-Year Term $250,000 Policy Monthly Rates by Age
AgeAccordia Life Average Monthly Rates for a 20-Year Term $250,000 Policy (Male)Foresters Financial Average Monthly Rates for a 20-Year Term $250,000 Policy (Male)
Age 30$16.91$13.56
Age 40$23.36$18.81
Age 50$56.07$42.66
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In the table above, you’ll see that MassMutual is considered a top-10 life insurance provider by market share. The MassMutual life insurance company has operated for 150 years and has grown by providing more products, purchasing small businesses, and more.

What is the top-rated life insurance company? There are many options for top life insurance companies. A company like MassMutual rates vary highly and could be considered the best by many standards despite being listed as the sixth-largest company.

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What are the pros and cons of MassMutual life insurance?

Throughout this MassMutual review, we’ve covered what products they offer, the MassMutual rates, and even some of the MassMutual history. Let’s break down some of the key points.

Pros of MassMutual

  • Top 10 in life insurance market share
  • Permanent and whole life insurance options
  • Affordable term life insurance rates

Cons of MassMutual

  • Subpar customer satisfaction

MassMutual is a larger company with strong financial ratings, history, and availability. They have good products but your local MassMutual reviews might be a good indicator of the satisfaction you can expect from them.

MassMutual Life Insurance: The Bottom Line

MassMutual life insurance is a reasonable life insurance option for almost anyone. They bring comfort with strong financial ratings, flexible policy options and riders, and more.

Don’t forget, not everyone is eligible for the best MassMutual life insurance rates. Wondering what life insurance rates you’ll qualify for? Get started with instant personalized rates from top companies using our FREE quote tool below.

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