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MassMutual Life Insurance Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
12 Customer Comments & Reviews - see all comments
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Massachusetts Mutual (MassMutual) is a mutual life insurance company offering whole, term, universal, variable, and guaranteed acceptance policies. Founded in 1851 in Springfield, Massachusetts, the company services around 5 million policyholders and has around 9000 financial professionals across the nation. It holds a Better Business Bureau rating of A+ and an A.M. Best rating of A++ (Superior).
 
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How is Massachusetts Mutual rated?

Breakdown

4.8/5
Company Stability
4.8/5
Reputation
4.0/5
Policies & Coverage

Overall Rating: 4.6 / 5 (Excellent)

MassMutual ranks as the sixth biggest life insurance carrier in the United States, directly positioned between Lincoln National and John Hancock. Its outstanding financial strength and its wide range of coverages make the company one of the strongest contenders in the life insurance market today. Additionally, positive customer feedback further shows MassMutual to be a reputable and dependable choice for those seeking good rates and even better service.

Financial Strength

Key Details

Underwriter
C.M. Life Insurance Company
Standard & Poor's Financial Rating
AA+
Moody's Financial Rating
Aa2
AM Best Financial Rating
A++
Additional Financial Information
Financial strength ratings are a key indicator of a company’s ability to meet its financial obligations. Ratings apply to Massachusetts Mutual Life Insurance Company and its subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company. Ratings are as of 11/1/18, and are subject to change

Company Stability - 4.8 / 5

As one of the leading mutual insurance companies in the nation, MassMutual enjoys an excellent financial reputation and stable outlook. The company currently holds an A.M. Best financial strength rating of A++ (Superior), an S&P rating of AA+, and a Moody's rating of Aa2.
*The above information reflects the market share, premiums, and financial strength of the issuer of the Massachusetts Mutual life insurance policies: C.M. Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.03
NAIC Total Complaints 2017
10
*The NAIC complaint ratio (in this case 0.03) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A-
Date Collected
2019-02-07

Reputation - 4.8 / 5

The Massachusetts Mutual Life Insurance Company has a Better Business Bureau rating of A+. The NAICS reports MassMutual has a complaint ratio of 0.08 based on 10 complaints against their individual life insurance product, quite a low ratio for a company of its size.

Massachusetts Mutual Policies

Massachusetts Mutual offers customers the following life insurance policies: Term, Whole Life, Universal Life, Variable Universal Life, Guaranteed Acceptance/ Final Expense.

Term Life Insurance

Available Terms
10 year
15 year
20 year
25 year
30 year

Key Term Policy Features

  • Term-Permanent Conversions
  • Guaranteed Level Premiums

Policies & Coverage - 4 / 5

MassMutual offers affordable 10, 15, and 20-year term life insurance plans that can be converted to permanent policies. The company also issues a variety of whole and universal life insurance products, including variable life and simplifies issue whole life with a selection of optional protection coverages to choose from.

Flexibility and Available Riders

Available Term Life Riders

  • Disability Income Rider
  • Critical Illness Rider

Flexibility & Available Riders - 0 / 5

MassMutual has a number of additional protection policies, such as Disability Income plans and Long-Term Care. The company's selection of plans is diverse, offering flexible terms and providing everything from basic to comprehensive coverage at accessible prices.

Additional Company Information

Homepage URL
https://www.massmutual.com/
Company Phone
(413) 788-8411
Headquarters Address
1295 State Street, Springfield, MA, 01111
Year Founded
1851

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12 Customer Comments & Reviews

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Craig A
11/27/2018
I have a 401k in MM that was from a company I retired from 8 years ago. The money has been in money market all that time as it seems impossible to reinvest without spending a ton of time. The on line site doesn't work with my codes (although I wrote them down and managed to use them once) So I just keep letting the $ sit. Trying to transfer my $ out seems to run into roadblocks at every turn. It's just a terrible company to work with. I just spent 45 mins + on the phone trying to accomplish a couple things, talked with 2 different people and still am unable to transfer my money out of this terrible company. They are just plain unwilling to help. By comparison I can do what I want with my... Read More

S
sue s
1/30/2017
Tried to use the website to get a quote for term life. They connect you with whole life and then the agent actually infers I must be stupid if I don't want whole life. Especially an agent would know if a person purchases term and invests in other avenues besides a whole term policy they make out much better money wise in the end. A whole life policy is never advised by any money expert outside the insurance world. Life insurance is protection in case you die. It should never be looked at as a 401K. The agent then told me the correct ph# to which I had to listen to a lengthy recording (no bypass option) about vacations. Yeah...you're going to give me a free vacation. Is that paid by the... Read More

Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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