MassMutual Life Insurance Review

In this article...
  • Check out the different types of life insurance from MassMutual, and find out what customers are saying about the company's customer service and performance.

If life insurance is a cornerstone of your financial strategy, it pays to choose a company that's both stable and reliable. MassMutual delivers on both counts —  it's one of the biggest and oldest life insurance companies in the United States. An insurance policy from MassMutual is backed by a long history of top-notch customer reviews and financial-strength ratings.

About MassMutual

MassMutual was founded in 1851; it was originally called the Massachusetts Mutual Life Insurance Company. Business grew as the United States expanded westward. After the Great Depression, officials branched out to new types of insurance products.

MassMutual is a mutual company, which means that certain policy owners have voting rights, a stake in the ownership and the opportunity to earn dividends. The brand's dedication to its policyowners is evident in its ratings — they're among the highest in the industry. With its consistently high levels of capital and assets, MassMutual has been on the Fortune 500 list since 2013.

What Life Insurance Products Does MassMutual Offer?

When you buy life insurance from MassMutual, you have four primary options: whole life, term, universal and variable. From there, you can add extra protection with special insurance for disability and long-term care.

MassMutual also offers a number of financial products, including retirement annuities, brokerage products, and advisory and trust services. For businesses, the company provides institutional insurance, investments, pension risk transfer and group life insurance policies.

Whole Life Insurance

A whole life policy from MassMutual is active for your lifetime. The policy accumulates cash value over time; you can borrow from this amount to access extra funds. This type of policy has fixed premiums for predictability.

  • Guaranteed premiums and growth
  • Guaranteed death benefit
  • Potential to earn dividends

Term Life Insurance

Term life insurance policies are MassMutual's most affordable offerings — they cover you for a specific number of years. You might buy this type of policy when you have large financial outflows. If you pass away suddenly, you can rest assured that your family will be able to pay for things like a college education, a mortgage or a large business loan. 

If you're in a hurry, certain MassMutual term policies are available to buy online. Premiums vary based on the term length and your age; for younger customers, the premiums may be as low as $10 per month.

  • Common terms include 10, 20, and 30 years
  • No cash value
  • Guaranteed premiums
  • Can often be converted to a permanent policy

Universal Life Insurance

If you're looking for the long-term coverage of whole life insurance with more potential for growth, MassMutual's universal life insurance policies may be a good solution. These plans build cash value according to the current interest rates. To protect your account from dips in the market, the company guarantees a minimum rate.

Some MassMutual universal policies come with guaranteed premiums; most, however, offer flexible premiums that you can adjust to meet changing financial needs over time.

  • Does not earn dividends
  • Option for a guaranteed death benefit
  • Ability to borrow from cash value

Variable Life Insurance

MassMutual's variable life insurance is designed for investment-minded consumers. While many of the company's policies build cash value, variable insurance puts you in control. You can decide how your net premiums are invested — the company offers a variety of investment funds. Alternatively, you can direct premiums to the MassMutual Guaranteed Principal Account, which is guaranteed to earn interest on a daily basis.

  • Ability to select your death benefit
  • Choose the premium amount
  • Set the frequency of premium payments
  • Ability to borrow against the cash value

Additional Protection Insurance

If you want more protection for yourself and your family, MassMutual offers smaller add-on options. These policies broaden your coverage.

Disability Income

This type of insurance helps provide for you in case of illness or injury. If you're unable to work due to a covered condition, the policy offers financial support.

  • Provides a percentage of your income
  • Covers gaps in your retirement
  • May be customized with riders

Long-Term Care

If you reach a point where it's not possible to care for yourself, long-term care insurance can help cover the cost of professional care. This might include in-home aides or residential care.

Long-Term Care and Life

This hybrid policy combines long-term care and life insurance to cover all of your bases. It's important to note that if you end up needing long-term care, it will reduce the value of the policy and the death benefit.

  • Death benefit
  • Flexible benefit pool to cover long-term care
  • Surrender value that grows over time
  • Potential to earn dividends

The Pros and Cons of MassMutual

Pros of MassMutual Life Insurance


  • High ratings for financial strength
  • Wide range of coverage types and options
  • Certain policies offer guaranteed acceptance

Cons of MassMutual Life Insurance


  • Majority of plans require a medical exam
  • Rates may be higher than other major providers
  • Most policies require you to work with an agent

MassMutual Reviews: What People Are Saying

Reviews for MassMutual life insurance are typically above average. Reviewers appreciate the selection of policies, noting that the company offers more options than top competitors. MassMutual's high financial-strength ratings inspire confidence among both industry professionals and everyday consumers. Customers tend to be pleased with the company's agents — in particular, they like how representatives provide clear, easy-to-understand information about the different options for life insurance. As with any contract, it's critical to read the terms carefully on your own; a few policy owners report being surprised by limitations, fees, or restrictions in their policies.

Is a MassMutual Life Insurance Policy Right for You?

MassMutual offers many types of life insurance, which can be helpful if you have specific financial needs. Whether you're looking for high-value lifetime coverage or a 10-year term policy to provide extra security while your children are in college, the company has multiple options to choose from. What's more, most policies can be customized with riders or add-ons to suit your unique situation. 

MassMutual may also be a good choice if you're searching for high coverage levels or investment options — the company is top-rated and brings more than 170 years of strong financial performance to the table.

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