MassMutual is one of the strongest life insurance companies in America, with an A++ (Superior) rating from AM Best and over 170 years in business. They offer term life insurance in 10, 15, 20, 25, and 30-year terms, plus whole life and universal life options. As a mutual company, eligible policyholders can earn dividends. MassMutual has paid dividends every year since 1869.
If you’re researching MassMutual life insurance, you’re looking at one of the oldest and most financially stable insurers in the country. Founded in 1851, Massachusetts Mutual Life Insurance Company has built a reputation for strength that few companies can match.
But is MassMutual the right choice for your family? That depends on what you’re looking for. Their financial ratings are excellent, and they offer a full range of life insurance products. The tradeoff is that you can’t get quotes online. You’ll need to work with a financial professional to apply.
This review covers MassMutual’s ratings, products, pros and cons, and whether their policies might be a good fit for your situation.
MassMutual Company Overview
MassMutual is headquartered in Springfield, Massachusetts. They’re a mutual company, which means policyholders own the company rather than shareholders. This structure allows eligible whole life policyholders to receive annual dividends.
Here are the key facts about MassMutual:
- Founded: 1851 (over 170 years in business)
- Headquarters: Springfield, Massachusetts
- Coverage in force: Over $1 trillion in life insurance protection
- Availability: 49 states plus Washington, D.C. (not available in Alaska)
- Company type: Mutual (policyholder-owned)
MassMutual consistently ranks among the top life insurance companies in independent reviews. In 2025, they were named #2 overall by Insure.com and ranked #1 by U.S. News & World Report.
MassMutual Financial Strength Ratings
When you buy life insurance, you want confidence that the company will be around to pay your claim. MassMutual’s financial ratings are among the highest in the industry.
| Rating Agency | Rating | Meaning |
|---|---|---|
| AM Best | A++ (Superior) | Highest rating, affirmed September 2024 |
| S&P Global | AA+ | Excellent, upgraded February 2025 |
| Moody’s | Aa3 | High quality |
| Fitch | AA+ | Very strong |
These ratings reflect MassMutual’s ability to meet its financial obligations to policyholders. An A++ from AM Best is the highest possible rating, and MassMutual is one of only a handful of insurers to hold it.
MassMutual Customer Satisfaction
MassMutual performs well in customer satisfaction surveys. In the J.D. Power 2024 U.S. Individual Life Insurance Study, they ranked #3 out of 22 companies with a score of 673 out of 1,000. The industry average was 648.
According to the National Association of Insurance Commissioners (NAIC), MassMutual has one of the lowest complaint ratios among major life insurers. This means customers file fewer complaints relative to the company’s size.
MassMutual Life Insurance Products
MassMutual offers several types of life insurance. Here’s what’s available:
Term Life Insurance
MassMutual’s term life insurance policies provide coverage for a specific period. If you die during the term, your beneficiaries receive the death benefit. If you outlive the term, coverage ends.
Term lengths available:
- 10 years
- 15 years
- 20 years
- 25 years
- 30 years
Premiums stay level for the entire term. One valuable feature is the conversion option. You can convert your term policy to permanent coverage without a medical exam during the first 10 years (or longer with certain policies).
MassMutual’s term rates are competitive. According to Insure.com’s 2025 analysis, a 35-year-old non-smoker can get a $500,000, 20-year policy for around $350 per year. That’s below the industry average of $377.
Whole Life Insurance
MassMutual is particularly well-known for whole life insurance. These permanent policies provide lifelong coverage with guaranteed premiums, a guaranteed death benefit, and cash value that grows over time.
Eligible whole life policyholders can also earn dividends. MassMutual has paid dividends every year since 1869. That’s 157 consecutive years. In 2026, they’re paying a record $2.9 billion in policyholder dividends.
Whole life insurance costs significantly more than term life. It’s designed for people who want permanent coverage and are willing to pay higher premiums for the cash value component.
Universal Life Insurance
MassMutual offers universal life policies with flexible premiums and death benefits. These permanent policies build cash value and allow you to adjust your coverage as your needs change.
They also offer variable universal life, which ties cash value growth to investment options. Variable products carry more risk since returns depend on market performance.
How to Get a MassMutual Quote
Unlike many insurers, MassMutual doesn’t offer online quotes. You’ll need to contact a financial professional to get pricing and apply for coverage.
You can find a MassMutual financial professional through their website or by calling their customer service line. The application process typically requires a medical exam, though some policies may qualify for simplified underwriting.
MassMutual Underwriting: What to Expect
Underwriting is how insurance companies assess your risk and determine your rates. MassMutual reviews your application, medical exam results, and health records to assign a rating class.
Rating classes from best to worst:
- Preferred Best (lowest rates)
- Preferred
- Standard Plus
- Standard
- Table Rated (higher rates for health issues)
MassMutual tends to be conservative in their underwriting. If you have health conditions like diabetes, high blood pressure, or elevated cholesterol, you may receive better rates from other carriers. Companies like Transamerica, Prudential, and Banner Life are often more competitive for applicants with health issues.
If you’re in good health, MassMutual’s rates can be very competitive. The best way to find out is to compare quotes from multiple insurers.
What Happened to Haven Life?
You may have heard of Haven Life, which was MassMutual’s direct-to-consumer term life insurance subsidiary. Haven Life allowed customers to buy term coverage online without working with an agent.
In January 2024, MassMutual closed Haven Life due to low customer adoption and high acquisition costs. If you purchased a Haven Life policy before the closure, your coverage is still active. All Haven Life policies continue to be serviced by MassMutual. For more details, see our Haven Life review.
Pros and Cons of MassMutual
Pros:
- Top financial strength ratings (A++ from AM Best)
- 157 consecutive years of dividend payments
- Low complaint ratio
- Full range of life insurance products
- Term conversion option without medical exam
- Competitive term rates for healthy applicants
Cons:
- No online quotes or applications
- Must work with a financial professional
- Not available in Alaska
- Conservative underwriting may result in higher rates for those with health conditions
- Most policies require a medical exam
Is MassMutual Right for You?
MassMutual is an excellent choice if you value financial strength and don’t mind working with an agent. Their whole life insurance is particularly strong, with a long track record of dividend payments.
For term life insurance, MassMutual offers competitive rates for healthy applicants. If you’re under 50 and want a 25 or 30-year term, they now offer those options.
If you have health conditions or prefer to shop online, you may want to compare quotes from other carriers. An independent agent can help you find the best rates across multiple companies.
Frequently Asked Questions
Is MassMutual a good life insurance company?
Yes, MassMutual is one of the strongest life insurance companies in America. They hold an A++ (Superior) rating from AM Best, the highest possible rating. They’ve been in business since 1851 and have paid dividends to eligible policyholders every year since 1869.
Does MassMutual offer 30-year term life insurance?
Yes, MassMutual offers term life insurance in 10, 15, 20, 25, and 30-year terms. All term policies have level premiums that stay the same throughout the term.
Can I get a MassMutual quote online?
No, MassMutual doesn’t offer online quotes. You’ll need to contact a financial professional to get pricing and apply for coverage. You can find one through MassMutual’s website or by calling their customer service line.
What happened to Haven Life insurance?
Haven Life was MassMutual’s online term life insurance subsidiary. MassMutual closed Haven Life in January 2024. If you have an existing Haven Life policy, it’s still active and serviced by MassMutual.
Does MassMutual pay dividends?
Yes, eligible whole life policyholders can receive annual dividends. MassMutual has paid dividends every year since 1869, a streak of 157 consecutive years. In 2026, they’re paying a record $2.9 billion in policyholder dividends. Dividends are not guaranteed.
Is MassMutual good for people with health issues?
MassMutual tends to be conservative with underwriting. If you have diabetes, high blood pressure, or other health conditions, you may find better rates with other carriers. An independent agent can help you compare options across multiple companies.
Can I convert my MassMutual term policy to permanent coverage?
Yes, MassMutual term policies include a conversion option. You can convert to permanent coverage without a medical exam or health questions during the conversion period, which is typically the first 10 years of your policy.
Key Takeaways
- MassMutual holds an A++ (Superior) rating from AM Best, the highest possible rating
- They offer term life insurance in 10, 15, 20, 25, and 30-year terms
- As a mutual company, eligible whole life policyholders can earn dividends
- MassMutual has paid dividends every year since 1869 (157 consecutive years)
- You can’t get quotes online. You must work with a financial professional
- Their underwriting is conservative, so healthier applicants typically get the best rates
- Haven Life (their online subsidiary) closed in January 2024
Ready to compare life insurance options? Use the quoter on this page to see rates from top-rated carriers. Or call us at 800-712-8519 to speak with an independent agent who can help you find the right coverage.
