MassMutual Final Expense Insurance Company Review (2024)
You might have a hard time finding a specific MassMutual final expense insurance policy despite the variety of policy options the company offers. MassMutual used to offer a Simplified Issue Whole Life Insurance option that was used as final expense insurance but it appears that option is no longer available.
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Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
UPDATED: Mar 19, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Mar 19, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- MassMutual used to offer final expense insurance in the form of Simplified Issue Whole Life Insurance
- It appears that MassMutual no longer offers a specific final expense insurance policy although you may be able to get similar coverage with a whole life insurance policy
- MassMutual is highly rated for customer satisfaction and financial strength
Looking for one of the best final expense or burial insurance companies? MassMutual final expense insurance could be a great option. MassMutual is a major contributor in the life insurance industry that could offer the best final expense policy for you.
Life insurance policies can get overwhelmingly expensive for older adults. We’ll break down everything you need to know to decide whether or not MassMutual final expense insurance is right for you. This includes the company rates, ratings, and more.
Keep reading to learn more about MassMutual final expense insurance or enter your ZIP code above to get started with free quotes from the top final expense providers in your area.
MassMutual Final Expense Insurance
MassMutual Life Insurance Company is a leading life insurance provider in the United States. The company’s technical name is Massachusetts Mutual Life Insurance Company and is sometimes written as Mass Mutual. Each of these variations technically refers to the same company.
MassMutual is a large company that offers an assortment of life insurance products alongside other investment-related products. You’ll find MassMutual retirement options that are mostly in the form of annuities rather than a MassMutual 401k. The investment options are mostly mutual funds and trusts.
The Insurance Information Institute notes that MassMutual is the fifth-largest provider of life insurance and annuities in the United States. While this is usually a positive indication, it’s still important to research the company’s ratings, rates, and so on.
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What is MassMutual final expense insurance?
Most people are only somewhat familiar with life insurance policies. MassMutual offers quite a few different types of life insurance. MassMutual doesn’t clearly advertise its final expense insurance via the company website.
For life insurance options, you’ll see the following listed on MassMutual’s website:
- Whole life
- Term
- Universal
- Variable
These are all common life insurance policies that have unique identifying features. If you aren’t sure how each differs, it would be worthwhile to learn more about the different types of life insurance policies to make sure you invest your money wisely.
Based on our research, MassMutual formerly offered final expense insurance in the form of a Simplified Issue Whole Life Insurance option. It appears that this product is no longer available with MassMutual since the link to the product is now unresponsive.
This doesn’t mean you won’t have other options, just that you might end up paying more than necessary for your burial expenses if you aren’t careful.
Does MassMutual offer final expense insurance?
Technically, MassMutual doesn’t have a specific final expense insurance policy anymore. Burial or final expense insurance is usually just a specific type of whole life insurance, however, and MassMutual does offer whole life insurance policies.
What does this mean for you? You may be able to secure similar coverage with MassMutual’s whole life insurance as you would with another company’s final expense insurance. Both policies can build cash value and have a less significant death benefit when compared to term life insurance.
Burial Insurance Vs. Whole Life Insurance
Details | Burial Insurance | Whole Life Insurance |
---|---|---|
Issue Ages: | 50-89 | 0-89 |
Death Benefit Amounts: | $1,000-$50,000 | $25,000-$10,000,000 |
Health Classes: | Standard Rates | Preferred & Standard Rates |
Riders: | Limited Options | Multiple Options |
Coverage Duration: | Guaranteed to age 120 | Guaranteed to age 120 |
Underwriting Process: | No Medical Exam Required | Exam & No Medical Exam Options |
Cash Value Potential: | Moderate | High |
Death Benefit Plans: | Level, Modified & Graded | Level |
Cost: | Affordable | Expensive |
There are some notable differences between many whole life insurance and burial insurance policies, as shown above. Again, this is why you’ll want to be sure you get personalized quotes to be sure you don’t wind up paying too much. Whole life insurance can get much more expensive.
MassMutual whole life insurance cash value contributions tend to depend on the amount of cash value you agree to during the underwriting process. Your monthly premiums would depend on that cash value, your death benefit, and the payment structure.
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Most whole life insurance policies will be paid by the month until you die. However, MassMutual may still offer other payment options. MassMutual Whole Life Legacy 10 Pay allowed policyholders to pay their premiums over the course of 10 years rather than over an entire lifespan. Naturally, this raises the monthly expense.
It’s not entirely clear whether or not MassMutual still offers this option since the online brochures were from 2007. It would be safest to inquire with a MassMutual agent to get more definitive answers about the product and payment options.
Does MassMutual have good ratings?
MassMutual is a large life insurance company, but that doesn’t mean that they are all about the customer. It’s clear that MassMutual has made some changes to its available products, but it’s unclear whether that was to benefit the company or prospective policyholders.
As far as financial strength goes, MassMutual is in excellent shape. A.M. Best rated MassMutual with a perfect “A++” rating, suggesting they have superior financial strength. This was reaffirmed by Fitch (AA+) and S&P (AA+). As a top contributor in the life insurance industry, it makes sense that MassMutual is rated highly for financial strength.
What about the MassMutual customer service ratings? J.D. Power rated MassMutual within the top 10 life insurance companies for customer satisfaction in 2021. They landed above the industry average despite falling behind companies like State Farm and Nationwide.
MassMutual’s NAIC Complaint Index of 0.07 reinforces the company’s favorable customer satisfaction score. This score suggests that MassMutual has fewer complaints than most other life insurance companies. Overall, it appears that you can trust MassMutual as long as the coverage and premiums make sense.
Read more:
- MassMutual vs. North American: Top Life Insurance
- MassMutual vs. Principal: Top Life Insurance
- MassMutual vs. Securian Financial: Top Life Insurance
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MassMutual Final Expense Insurance: The Bottom Line
MassMutual doesn’t appear to have a specific final expense option anymore. Even so, you may be able to get similar coverage with a MassMutual whole life insurance policy. It’s important to compare rates and coverage from multiple providers to ensure you’re getting the best bang for your buck.
We hope you enjoyed learning more about MassMutual final expense insurance. Before you go, enter your ZIP code below to get free quotes from the top final expense providers in your area.
Your one-stop online guide for life insurance quotes. Get free quotes now!
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Tracey L. Wells
Licensed Insurance Agent & Agency Owner
Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...
Licensed Insurance Agent & Agency Owner
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.