What Everybody Ought to Know About MassMutual Guaranteed Life Insurance

Written on March 11, 2017 by Choice Mutual

MassMutual Guaranteed Life Insurance

To see rates for MassMutual guaranteed life insurance, you can scroll down. At the same time, you can get some instant final expense quotes from 20 different insurance companies by using the quote form on this page.


MassMutual is a big well known insurance company, so their guaranteed issue final expense insurance must be good right?

Wrong!

Unfortunately for them, Massmutual guaranteed life insurance is anything but good, and we will explain precisely why we say that.

Honestly, they didn’t come remotely close to making our list of best final expense insurance companies.

They are a prime example of why you NEVER select a company based purely off of financial strength and notoriety.

We aren’t going to bore you with MassMutual’s company history or their financial ratings.

Let’s get real here; everyone knows they are a solid insurance company. However, if you do want to know the about their history and financials, we do have that info at the bottom of this article.

MassMutual Guaranteed Life Insurance

Unlike other websites, we are going to give you meat and potatoes kind of information. We are talking about information that will help you make the best decision for you and your family.

At Choice Mutual, we don’t do fluff.

We are going to completely breakdown and explain everything about their funeral insurance. We’ll show you how Mass Mutual guaranteed life insurance works, and show you their prices.

In addition, we will show you 2 secret tricks on how you can get the same thing, or better, for much less money. 😮

Article Quick Guide

  1. A Detailed Breakdown Of A MassMutual Burial Insurance Policy
  2. MassMutual’s Rates & Rates From Other Companies
  3. Secret #1- Get The Same Exact Thing For Much Less Money
  4. Secret #2- Get A Better Policy & For Significantly Less Money
  5. Guaranteed Way To Find The Best & Cheapest Burial Policy
  6. MassMutual History

 

The 411 On MassMutual Guaranteed Life Insurance

On September 14, 2015 MassMutual formally announced they were releasing a new guaranteed acceptance life insurance product to help seniors pay for the rising cost of funerals.

They have been aggressively advertising online and TV with commercials like the one below to get the word out.

 

They are banking on their well known name garnering trust with consumers, so they won’t think to ask many questions.

So what are they offering?MassMutual Guaranteed Life Insurance

They are offering you a whole life burial policy that has no health questions or medical checks. They will literally issue the policy to anyone who applies. As long as you have the mental capacity to enter into a contract and you are within their age limits, MassMutual will give you a policy.

There is a mandatory two year waiting period. During the first two years of a MassMutual burial insurance policy, they will not pay a benefit if you die. Instead, they would simply refund your money plus interest.

This is a provision that is present with every guaranteed issue policy with every single insurance company. There is no guaranteed acceptance policy in the world with any company that protects you in anyway during the first two years. The only exception is accidental death. All guaranteed issue policies will pay the full death benefit if death is due to an accident.

Here are the product specifications.

  • Issue ages are 50-75
  • Face amounts are $2,000-$25,000
  • Premiums cannot increase
  • Policy cannot cancel due to age
  • Death benefit is guaranteed to never decrease
  • No underwriting of any kind

As you can see, it’s a straightforward guaranteed issue final expense policy. As long as you meet the age requirements, they will issue you a policy.

 

Our Thoughts On Mass Mutual Guaranteed Life Insurance For Final Expenses

There are three things that stand out right away about their final expense program

  1. Their marketing is very misleading
  2. Their insurance is much more expensive relative to other companies
  3. They don’t offer plans that have underwriting

Their Misleading Marketing

Take a look at the screenshot below. It’s their landing page that users see once they click on one of their internet ads. They make it seem as though you can get a Mass Mutual burial policy insurance plan for less than $10 per month.

MassMutual Guaranteed Life Insurance

Wow that is just amazing right?

To suggest that ANYONE can get life insurance for less than $10 per month is so disingenuous. It’s frankly absurd, and willfully misleading.

You would think a big well known insurance company like MassMutual would not stoop to such lows. I guess they believe in doing whatever it takes to make a dollar.

Here’s the truth

To get a $10 per month premium, you would have to be a 50 year old woman, and buy $2,000 in coverage.

That’s probably not going to pay for your final expenses…

At the bottom of their website they disclose this information in very small print hoping you won’t see it. We have enlarged it for you to see for yourself.

MassMutual Guaranteed Life Insurance

 

They Don’t Have Any Plans That Have Underwriting

The most important thing to remember about MassMutual is that they offer only guaranteed acceptance life insurance. They do not have any final expense policies that have underwriting.


Side Note: A plan that has underwriting is one where you qualify based on your health. There would be health questions and an electronic prescription history check. Only these kinds of plans offer immediate coverage if you qualify.


If you are like most people we speak with, you would prefer to get a plan that protects you immediately. If that’s what you want, MassMutual can’t help you.

The only way to get a plan that protects you during the first two years is to apply for a plan that has health questions.

Here’s why this is such a big problem

Would you rather pay less money, and have coverage that protects you immediately?

Of course you would! To achieve that, you must qualify for a burial policy that has underwriting.

MassMutual Guaranteed Life Insurance

If for some reason you can’t qualify for an underwritten plan with some company, that’s when you resort to a guaranteed issue plan. To default to a guaranteed issue plan would be a massive disservice to your pocketbook and your family. Have a quick conversation with a Choice Mutual agent about your health. One of our friendly agents will quickly analyze your situation and let you know if guaranteed issue is right for you, or if you would qualify for a plan that has underwriting.

Pro Tip: At Choice Mutual we have over a 90% success rate a helping folks secure at plan that fully protects them during the first two years. These amazing results are only possible because we work with so many different burial insurance companies.

Their Insurance Is Much More Expensive Than Their Competitors

Here is the key question you need to ask yourself:

Do you want to pay a higher price to a company for the exact same thing that another company is offering for a much lesser price?

If you are like 99% of people we speak with, you would much rather pay less when all other things are equal.

MassMutual Guaranteed Life Insurance

Here’s the deal

There are many other life insurance companies that offer the same guaranteed issue life insurance for a lower monthly price. Chief among them are Gerber Life, AIG, and Mutual of Omaha. All three of these companies charge less money per month compared to a Mass Mutual funeral insurance policy.

 

Secret #1 To Get The Exact Same Thing For Much Less

In case you haven’t figured it out by now, there are plenty of other reputable life insurance companies that sell the exact same kind of insurance. The caveat is, they do it for much less.

MassMutual Guaranteed Life Insurance

Just above, we showed you how the rates from Mutual of Omaha, Gerber Life, and AIG were much lower.

If for some reason you aren’t fond of those companies, go with any of these companies below, and you will still get it cheaper than you would for MassMutual final expense.

  • AAA Life Insurance Company
  • Physician’s Mutual
  • Vantis Life

That’s a total of five highly rated companies that offer the same product for less.

Crazy right?

 

Secret #2- How To Get A Much Better Policy For Substantially Less Money

So you are in the market for some final expense insurance.

What if we told you that you could get yourself a plan that costs anywhere from 40-50% less money than MassMutual guaranteed acceptance? In addition, what if we also told you that your coverage would fully protect you starting on day one of your policy?

This sounds crazy, but it’s true.

Both of those benefits are not only possible, but they are statistically probable.

So here’s how you do it…MassMutual Guaranteed Life Insurance

If you are accepted for a burial insurance plan that has health questions, both of those benefits will become your reality.

Because the insurance company is assessing your health (unlike guaranteed issue plans), they insurer is taking on much less risk. This is why the can afford to charge much less for the insurance.

It gets better too

Most seniors we speak with think they won’t qualify because they deal with some pretty major health issues.

The truth is most applicants easily qualify for a plan that has health questions with some final expense company. The only question is, which one will it be?


Side Note: Please do not assume you will not qualify for a plan that has health questions. You would be amazed at how lenient the underwriting is with some of these companies. At Choice Mutual, roughly 90% of our clients are approved for a plan that has health questions.


Why this works

There’s dozens and dozens of final expense life insurance companies today. They all accept and decline different health issues.

While one company might not accept your health issues, there is a good chance that another will.

The key is to find which company(s) has underwriting designed to accept all the conditions you deal with.

To do that, you need to enlist the services of an independent agency like Choice Mutual that has access to all the companies on the market. An agency like us will sort through every single one of them and find you which companies will accept your health issues.

If you approved for a plan that has underwriting, you would pay 40-50% less than you would for MassMutual funeral insurance.

Aand you would not have to deal with a 24 month waiting period!

It’s not the best thing since sliced bread, but it’s pretty close 🙂

 

MassMutual’s Guaranteed Acceptance Prices & Rates From Other Companies

Below you can see their prices and some from Gerber Life, AIG, and Mutual of Omaha. Keep in mind that all three of these companies offer the exact same thing. There is literally no difference other than the monthly price.

Male- $10,000

AgeMassMutualGerber LifeAIGMutual Of Omaha
50$49.00$38.41$51.92$36.00
51$50.00$39.51$52.73$36.00
52$52.00$40.88$53.63$36.00
53$53.50$42.63$54.44$36.00
54$55.50$44.37$55.36$36.00
55$57.50$46.11$56.50$45.00
56$59.50$47.76$57.69$45.00
57$62.50$49.59$59.03$45.00
58$65.00$51.88$60.21$45.00
59$68.00$54.27$61.53$45.00
60$71.00$56.65$63.17$55.00
61$74.50$58.67$64.89$55.00
62$78.50$60.78$66.83$55.00
63$82.00$62.98$68.60$55.00
64$87.00$65.54$70.61$55.00
65$91.50$68.29$73.09$66.00
66$96.50$70.77$75.69$66.00
67$102.00$74.25$78.65$66.00
68$108.00$78.65$82.75$66.00
69$113.50$83.42$87.40$66.00
70$120.00$87.91$93.14$89.00
71$126.00$93.50$99.16$89.00
72$131.50$99.92$105.99$89.00
73$139.00$107.25$111.23$89.00
74$147.00$115.50$117.16$89.00
75$155.50$124.67$124.49$121.00

Female- $10,000

AgeMassMutualGerber LifeAIGMutual Of Omaha
50$40.50$28.14$35.83$30.00
51$41.50$29.43$36.68$30.00
52$42.50$30.80$37.65$30.00
53$43.50$32.27$38.27$30.00
54$45.00$33.92$38.98$30.00
55$46.00$35.84$39.86$37.50
56$47.00$37.68$40.77$37.50
57$49.00$39.69$41.81$37.50
58$51.00$41.80$42.75$37.50
59$53.00$44.09$43.82$37.50
60$54.50$46.48$45.14$42.00
61$56.50$48.22$46.52$42.00
62$58.50$50.05$48.09$42.00
63$60.50$51.79$49.91$42.00
64$63.00$53.63$51.97$42.00
65$66.00$55.46$54.51$51.00
66$69.00$57.57$57.18$51.00
67$72.50$60.04$60.21$51.00
68$76.50$62.70$63.09$51.00
69$80.50$65.63$66.37$51.00
70$84.00$68.75$70.41$69.00
71$90.00$72.42$74.66$69.00
72$95.50$76.27$79.48$69.00
73$101.00$80.39$84.10$69.00
74$106.00$85.07$89.35$69.00
75$112.50$90.29$95.82$98.00

 

How To Always Find The Best Final Expense Policy

When you make the decision that you want a burial insurance plan it’s time to take immediate action. Waiting will only put you at risk of having to pay more money.

Before you set out to find a policy, you need to know precisely what you are looking for. There are three qualifications for a final expense policy. Once you find a policy that has all three of these attributes, jump on it immediately.

  1. The insurance is provided by a financially secure company. An insurance policy is only as good as the insurers ability to pay its claims.
  2. The policy protects you as soon as possible. Whenever possible, you want to secure a plan that offers immediate protection. There are some health situations where this isn’t possible, but that is rare. When the coverage goes into effect is a big deal.
  3. It’s the lowest cost you can find. It just makes sense to pay less money for the exact same thing. Remember, a $10,000 burial policy from Mutual of Omaha is no different than a $10,000 policy from another company. The only meaningful difference is the monthly price.

Now that you know what you are on the hunt for, lets discuss how you find it.

To find the best final expense policy you need to have an independent agency like Choice Mutual shop around for you. An independent agency represents many different insurance companies so they can compare multiple quotes to find you the best deal.

Working with an agency like us is a lot like having a personal burial insurance shopper. Our job is the go out and find what you are looking for, and get it at the cheapest rate possible. We don’t care which insurance company we put you with. All we care about is doing what is best for you.

 

MassMutual Company Background

Having been in business for over 160 years, it’s really no secret that MassMutual is a solid trustworthy insurance company. They’ve endured the great depression, the civil war, WW2, and all the various post WW2 challenges that America has faced.

Through all of that, they have continued to grow and remain financially solvent during the most tumultuous of times.

 

Corporate Structure

As you may know, MassMutual is a mutual company which means they don’t have shareholders. Instead, their policy owners are considers part owners of the company. Policyholders who own a participating whole life policy with MassMutual can actually participate in the voting for the board of directors.

This sort of privilege is not possible with non mutual insurance companies.

 

Available Products

Being one of the largest financial firms in the world, MassMutual offers a wide range of financial products and services.

Below you can see the large list of products they have available to help Americans with the financial needs.

  • Life Insurance
    • Whole Life
    • Final Expense Whole Life
    • Term Life
    • Universal Life
    • Variable Life
  • Disability Income Protection
  • Long Term Care
  • Medicare Supplements
  • Workplace Benefits
  • Annuities
    • Deferred Fixed
    • Income
    • Variable
  • Individual Retirement Accounts (IRA’s)
  • Mutual Funds
  • Exchange Traded Funds
  • 529 Plans
  • Unit Investment Trusts

Financials And Reliability

If you take a look below, you will see a screenshot directly from MassMutual’s website that details their financial ratings.

MassMutual Guaranteed Life Insurance

We’ll put this to you in plain language in case you aren’t familiar with these rating companies or what their ratings mean.

You can trust your milk money with MassMutual. To be frank, there are few insurance companies in the world that have higher ratings than they do.


Side Note: Just because their ratings are super high does not mean all their products are best for YOU. While many of their products are best in class on the market, some are not. Namely, Mass Mutual final expense is never going to be good for you or anyone else no matter how good their company financials are. There are just too many other equally reliable insurance companies that offer the same thing or better for a substantially lower monthly rate.


In the end, there really is no reason that anyone should ever doubt for one moment that MassMutual will be financially capable of paying their claims for the foreseeable future.

About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual works with all the top burial insurance companies throughout the nation to secure you the best price possible.

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