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Another option for funding long term care now available from MassMutual

July 15th, 2020

SPRINGFIELD, Mass., July 15, 2020 – In an effort to provide yet another option to help people prepare for the high cost of long term care later in life, Massachusetts Mutual Life Insurance Company (MassMutual) has introduced MassMutual CareChoice SelectSM to its suite of financial solutions.

CareChoice Select, a level premium whole life insurance policy with riders that provide long term care benefits, is the newest addition to MassMutual’s CareChoice policy series. CareChoice policies are appropriate for individuals who need long term care coverage and life insurance as a secondary benefit.

A CareChoice Select policy provides four important guarantees:

  • A guaranteed pool of long term care benefits* available once eligibility requirements and a 90-day elimination period have been satisfied
  • A guaranteed death benefit equal to the policy face amount
  • A guaranteed policy surrender value that generally increases each year and if the policyowner decides to cancel his or her coverage at any time, they receive the surrender value
  • Guaranteed level premiums payable for 12 years, at which time the policy is paid-up, meaning no additional premiums will be due And while not guaranteed, a CareChoice Select policy is eligible to receive annual dividends.

“A CareChoice Select policy helps protect retirement savings and other assets from being depleted by long term care expenses,” explained Paul Lapiana, head of product, MassMutual. “This new option is yet another demonstration of MassMutual’s commitment to helping people as they age and to providing options for financial support.”

For more information about MassMutual, visit

*Receiving LTC benefits reduces the death benefit and policy surrender value.

This information is not for use by residents in the following states: CA, HI, IN, MT, NY. State variations will apply.

Underwriting is necessary for both the life insurance policy and the LTC Riders. A medical exam is generally not required but may be necessary in certain situations.

The information provided is not written or intended as specific tax or legal advice. MassMutual, its subsidiaries, employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.

Limited Payment Whole Life insurance (MMCCWL-2019, and ICC19-MMCCWL in certain states, including North Carolina) is a participating, permanent, level-premium life insurance policy issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001.

For costs and further details of LTC Rider coverage, including exclusions and reductions or limitations, contact your agent/producer or MassMutual at 800-272-2216 and an agent/producer will contact you.

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