A life insurance policy from MassMutual can help protect your loved ones in the event of your passing. There are two main types of life insurance: term and permanent. Term is for a specific period of time; permanent life insurance provides a death benefit that can last a lifetime, so no matter when you pass, your loved ones will receive a payment. And some of our permanent policies offer the opportunity to build cash value , which you’re able to use however you’d like.1
With term and permanent life insurance, you make premium payments so that in the event of your passing, your loved ones and beneficiaries will receive the death benefit proceeds from the policy, income tax free. Term insurance is for a certain period of time, while permanent is for life as long as the premiums are paid.
If you have anyone that depends on you financially or if you don't want to leave your loved ones with burial costs or debt, then you should consider life insurance. And if you're just starting out and want to lock in an affordable rate for when you have a family, different types of life insurance can help with that, too.
Cover your mortgage
Cover other debt including student and business loans
Pay for college expenses
Fund retirement goals for your spouse
Term Life Insurance
Term life provides you affordable, convenient coverage for a certain amount of time –– the term during which you pay your premiums –– and it is often convertible to a permanent policy.
With whole life insurance, you’re guaranteed a death benefit, and you’re able to build cash value over time. Your cash value grows tax deferred so it’s there when you need it. In addition, you have the opportunity to earn dividends2, which are not guaranteed.
Much like whole life, universal life insurance has the potential to build cash value with the additional benefit of flexible premiums. This means if you ever need to lower the cost of your premiums for a specific time period, you may be able to.
If you’re interested in controlling how your premiums are invested, then variable universal life insurance may be an option for you. Like universal life, variable universal life insurance has flexible premiums and the potential to build account value with the added bonus of investment options.
When you work with a financial professional, you can expect:
During your initial phone call, your financial professional will ask you questions to understand your financial goals and objectives.
After looking at your entire financial picture, your financial professional will provide you with suggestions to fill in the gaps so you can choose the products best suited for your situation.
If you're satisfied with their recommendations, they work with you to secure the products and services to help ensure your financial future. This may require a medical exam.
Your financial professional can work with you over time through periodic reviews to help you monitor the strategies in place, and their capacity to continuously meet your goals.
we've been helping people secure their financial future and protect the ones they love
of life insurance protection in force as of 12/31/21
named for the
year in a row as a Best Place to Work for Disability Inclusion according to the Disability Equality Index®
in life insurance and annuity benefits paid in 2021