While shopping for a new life insurance policy (or replacing an old, outdated one), you’ll quickly realize just how many companies you actually have to choose from. With several hundred options, it might seem a bit ridiculous to really narrow down the company who is the absolute best fit.
And, although it’s a grim subject, it’s something we really need to take care of to protect our loved ones should something happen to us.
Insurance companies that have unshakeable stability are not easy to find. Financial strength and stability are what people want especially when they are looking for an insurance company to help them with long term care planning for their loved ones.
One of the largest insurance companies and best rated life insurance companies in America is Mass Mutual. Founded in 1851, it is an established life insurance provider that has a wide range of financial services available for clients.
We have other reviews available such as our Allstate Review, Globe Life Review and Colonial Penn Life Review, if you are interested in exploring your options. Allowing you to make an informed decision is very important to us!
A Highly Rated Insurance Company
Mass Mutual is a highly rated life insurance provider. They currently have an A++ rating from A.M. Best that is considered superior. From a financial point of view, Mass Mutual is a very strong company that people can trust. When you are trying to decide which insurance company to purchase a life insurance plan through, it’s vital that you find one that has a long history and is financially sound. The last thing that you want is for your family to have trouble getting the payout from your family if that time ever comes. It also has competitive whole life insurance policies. If you’re looking to get a whole life insurance policy, depending on your situation, it’s possible that Mass Mutual will have the best rates for those policies.
What makes this insurance company stand out from the rest is that people can convert their Mass Mutual term policy to whole life during the first ten years that they have coverage. At the same time, it offers return of premium, joint coverage options and cash surrender for people who are searching for maximum flexibility.
Combining all of these unique coverage options with the company’s excellent selection of policy riders helps create one of the most updated and complete offerings of any company within the insurance industry. If flexibility is high on an individual’s insurance shopping list, Mass Mutual is a policy provider that is definitely worth a much closer look.
Underwriting is the process of reviewing an individual’s application, medical exam laboratory results and their doctor’s records to determine what health rating people will get on their life insurance policy. Ratings range from Ultra Preferred to Standard Plus, Preferred Plus, Standard and Below Standard.
Mass Mutual tends to be cautious in how they review a potential life insurance applicant. People who are suffering from diabetes, elevated blood pressure and high cholesterol will most likely obtain much higher ratings from companies such as Transamerica, Prudential, Banner Life and American General than from Mass Mutual. If you’re a high-risk applicant, or are in less than perfect health, you could have problems getting competitive rates for a life insurance policy.
Although if you’re in good health, Mass Mutual is a great option, which means getting in the best physical shape possible is a great way to save money on your policy. If you are really striving to get the very lowest premiums, it could be time to lose those extra pounds, start a healthy diet, and start getting regular exercise.
All of these are can help lower your blood pressure, cholesterol, and other common issues found in your blood work, all of which could cause your premiums to go up.
Term Life Options
Although Mass Mutual provides 20, 15 and 10 year term life, they do not have a 30 or 25 year term life option. If an individual is under 50 years of age, they may want to consider purchasing a 30 or 25 year term. These are not available with Mass Mutual. Aside from that, they can purchase a 30 year term with more affordable insurance companies from the same price as a 20 year term life that Mass Mutual is offering.
Mass Mutual Agents
Mass Mutual agents only offer a potential insurance applicant policies from their company and not from other lower priced insurance providers. Although some of them do have access to a number of competitive insurance companies, they often get paid more for promoting and selling Mass Mutual.
Because of this, they have a tendency to actively promote Mass Mutual only. People will be better off negotiating with an independent insurance agent that is completely unbiased and provides them with a wide selection of high quality life insurance companies.
There are plenty of advantages to using an independent agent, aside from not being sold expensive coverage. Using an independent agent, like myself, is a great way to save both time and money. Independent agents have no reason to sell you more expensive coverage because of commissions, instead, we work to get you the most affordable insurance policy to fit your needs.
It’s important that you find a company that is going to view your application favorably to give you the best monthly rates, you could spend days and days calling companies, or you can let our agents do all of the work for you. We understand that your time is valuable, we value your time as much as you; for this reason, we shop for you, and save you the hassle.
No fuss, no calling, just affordable and quality insurance.
The Bottom Line
Although it is one of the most financially secure life insurance companies found on the market today, Mass Mutual is often not worth it. This is because they are more expensive for term life insurance than other providers that have the same superior financial rating awarded by A.M. Best.
Sure, you’ll get a company that you don’t have to worry about going out of business, but there are several other options that will give you the same peace of mind at a lower rate. Their term life insurance rates are 30 percent higher than others found on the market today.
Don’t leave your family uncovered. It could leave them with thousands of dollars of debt from mortgage payments, hospital bills, and funeral expenses. A life insurance policy will give them the resources they need to pay off all of the bills and not add any financial strain to their budget.
If you have a question we can answer about Mass Mutual, or any of the other closely related companies, like William Penn Life</a >, let us know by asking us in the comments below, or even giving us a quick call. We’re happy to answer any questions and/or connect you with the most suitable policy to fit your needs.
We are dedicated to ensuring that our customers get quality coverage at an affordable rate.
Mass Mutual is one of the most excellent choices that they can made for people who are looking for mutual company that has a great financial rating. However, those who are looking for a low-cost but quality policy that can provide adequate protection for their family will be better off looking around and receiving a number of rate quotes in order to make a sound decision. Compare quotes using our quote tool on this website, or call us at 1-888-552-6159.