Purchasing life insurance is a big decision. You want to make sure that you have the right type and amount of coverage so that your loved ones won't have to suffer financially - especially at an already difficult time in their lives.
The proceeds from life insurance can be used for any number of things, such as replacing a breadwinner's income, paying off large debts such as a mortgage, and/or keeping promises such as paying for a child's or a grandchild's future college education.
When you are considering which life insurance policy is right for you, it is also important that you go with an insurance company that is strong and stable financially, and that has a good reputation for paying out its policyholder claims. One such insurance carrier that meets these criteria is Mass Mutual.
To help you better understand all the different types and purchasing life insurance look into our post on Life Insurance for Dummies to help you get a better grasp on things before you make your final purchase decision.
Mass Mutual, which is the shortened version of the company's true name - Massachusetts Mutual Life Insurance Company, has been in operation for over 165 years. The company's motto has always been to assist people with securing their futures and to help clients in protecting the ones they love and care about.
This insurer is a mutual insurance company, which means that it is essentially owned by its policyholders. It also means that the company is not publicly held, and in turn, it does not have stockholders to satisfy concerning its revenue goals.
The policyholders of a mutual life insurance company may also be eligible to receive dividends. While these are not guaranteed, Mass Mutual has been consistently paying out dividends to its life insurance and disability insurance policyholders for more than 150 years.
Because dividends are considered to be a return of premium, they are not subject to taxation when they are received. Dividends can be used in several ways, including purchasing additional life insurance coverage, adding to the cash value component of a permanent life insurance policy, or receiving directly in cash.
Mass Mutual is considered to be quite strong financially. As of year-end 2015, the company grew its total adjusted capital to a record of more than $17 billion, with surplus of approximately $15 billion. That same year, Mass Mutual paid out roughly $4.5 billion in insurance and annuity benefits, and it ended the year with $642 billion in assets under management. Because of these figures, Mass Mutual is ranked 5th overall in the insurance industry, based on its capital and surplus. Based on its high revenues, Mass Mutual is also considered as one of the largest U.S. companies, and it is a part of the Fortune 500.
Due to Mass Mutual Life Insurance Company's strength and stability, it has earned high ratings from the insurer rating agencies. These include an A++ (Superior) from A.M. Best Company, an AA+ (Very Strong) from Fitch, an Aa2 (Excellent) from Moody's Investor Services, and an AA+ (Very Strong) from Standard & Poor's.
The company has also received numerous awards and accolades throughout the years - including being recognized by the Ethisphere Institute - a global leader in defining and advancing the standards of ethical business practices - as a 2016 World's Most Ethical Company.
Mass Mutual offers a long list of life insurance policy options to choose from - which can be extremely beneficial for its customers, as policyholders can choose the type (or types) of coverage that best fit their specific needs.
The insurance coverage that is provided by Mass Mutual includes:
Mass Mutual offers term life insurance policies that can fit a number of different needs. With this affordable coverage, individuals may be able to obtain a large amount of benefit for a budget-friendly premium charge. In fact, depending on the insured's age and health condition at the time of policy application, some of Mass Mutual's plans can be obtained for under $10 per month.
Most of the term life insurance coverage that is offered by Mass Mutual is level in terms of the premium amount (throughout the specific duration), as well as the amount of death benefit. The company offers term life insurance plans that are for ten or twenty years. (Once the time period - or term - of the level term life insurance policies have elapsed, the amount of the premium will typically increase. This is based primarily on the older age of the insured at that time).
Many of Mass Mutual's term life insurance policies care "convertible," which means that the term coverage can be converted over into a permanent life insurance policy. This can be easy for the insured to accomplish, as most of the convertible term life insurance options through Mass Mutual will not require the insured to pass a medical examination - and in some cases, to even prove evidence of insurability.
In addition to term and permanent life insurance coverage, Mass Mutual Life Insurance Company also offers a wide range of other wealth enhancing and protecting products as well. These include:
If you are seeking the best premium quotes on Mass Mutual Life Insurance Company's term life insurance coverage - or the life insurance coverage from other top carriers - we can help. We are an independent life insurance brokerage, and we work with many of the best term life insurance carriers that are in the marketplace today.
We can provide you with all of the key information that you need for making a well-informed term life insurance buying decision. And, we can do so for you very quickly, easily and conveniently - directly from your home computer - and without you having to meet in person with a life insurance agent. If you are ready to move forward with the process, all you have to do is just simply take a moment to fill in the quote form on this page.
Should you find that you still have any additional questions regarding term life insurance protection for yourself and those you care about, please feel free to call us directly via phone, toll-free, by dialing 541-400-9040.
Our experts are here and available to walk you through any of the questions or concerns that you may have, as well as to assist you with obtaining and comparing premium quotes on term life insurance protection such as with an Allstate life insurance company.
We understand that the process of purchasing life insurance may seem to be a bit overwhelming. There are many different variables that you need to consider - and you want to be sure that you are obtaining the proper life insurance policy for your specific needs. But the process can be made some much easier if you have an ally on your side. So, contact us today - we're here to help.