MassMutual Life Insurance Review 2025
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MassMutual
on Nerdwallet
Financial strength rating
Online purchase
NAIC complaints
Policies offered
on Nerdwallet
MassMutual
Financial strength rating
Online purchase
NAIC complaints
Policies offered
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About MassMutual life insurance
MassMutual earned 5 stars out of 5 for overall performance due to its exceptional financial strength and low volume of consumer complaints. Based on this star rating, MassMutual is one of our best life insurance companies for 2025.
Founded in 1851, Massachusetts Mutual Life Insurance Co. is one of the largest U.S. life insurers. It offers a broad range of term and permanent life insurance and sells policies through a network of agents across the country.
As a mutual company, MassMutual is owned by its policyholders. This means that certain policyholders are eligible to receive dividend payments based on the company’s financial performance. MassMutual is set to pay out more than $2.5 billion to policyholders in 2025, the largest dividend payout in the company’s history.
Wide range of term and permanent life insurance policies.
Supports online claims.
Low number of complaints.
Most policies require a medical exam.
» MORE: Compare life insurance quotes
MassMutual life insurance policies
MassMutual made our list of the best term life insurance, best whole life insurance, best life insurance for seniors and best mutual life insurance companies for 2025.
Term life insurance. People ages 18 to 75 can apply for a term life insurance policy lasting 10, 15, 20, 25 or 30 years, with coverage starting at $100,000. Premiums are typically locked in for the life of the policy, and you may convert to permanent coverage at a later date.
Whole life insurance. MassMutual has a variety of whole life insurance policies to choose from, all of which offer essentially lifelong coverage and build cash value over time. You can apply from age 0 to 60 or 90 depending on the policy you choose, and most death benefits start at $25,000. There’s no maximum coverage amount, but if you want a lot, you’ll have to justify your need for a large policy.
Universal life insurance. Available to people ages 18 to 85, this universal life insurance policy typically lasts your entire life. Coverage starts at $50,000. It also offers flexible premiums, which may be appealing to people whose income fluctuates.
Variable universal life insurance. Along with offering permanent coverage and flexible premiums, variable universal life insurance allows you to be more hands-on with the cash value portion of your policy. You can work with a MassMutual representative to choose the investments that align with your goals and risk tolerance.
Other. MassMutual also offers free life insurance for income-eligible parents and guardians through its LifeBridge program. Qualifying applicants can get a free $50,000, 10-year term life policy to help pay for educational expenses.
MassMutual life insurance riders
The life insurance riders available to you will depend on the policy you choose, but may include:
Accelerated death benefit. Gives you early access to part of your death benefit if you’re diagnosed with a terminal illness.
Waiver of premium. Pays premiums to keep your policy in force if you become too disabled to work.
Paid-up additions. Allows you to pay higher premiums to increase your death benefit and grow your case value more quickly.
Long-term care access. Gives you access to part of your death benefit to help with caregiving expenses.
Guaranteed insurability. Enables you to buy extra coverage without taking an exam or answering health questions.
Renewable term. Lets you add term coverage to a whole life policy, with the option to renew each year.
Life insurance supplement. Gives you a combination of whole and term coverage, paid for by rider premiums and policy dividends.
Yearly term purchase. Uses dividends from certain permanent policies to buy one-year term coverage.
MassMutual customer complaints and satisfaction
Over three years, MassMutual has drawn far fewer than the expected number of complaints to state regulators for a company of its size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
MassMutual ranked No. 3 out of 21 companies for customer satisfaction in J.D. Power's 2024 U.S. Individual Life Insurance Study.
How MassMutual compares to other insurers
MassMutual | Guardian | Northwestern Mutual | |
|---|---|---|---|
Star rating | |||
Financial strength | Exceptional. | Exceptional. | Exceptional. |
NAIC complaints | Far fewer than expected. | Far fewer than expected. | Far fewer than expected. |
J.D. Power ranking | #3 out of 21. | #2 out of 21. | #4 out of 21. |
Policy types offered | Term & permanent. | Term & permanent. | Term & permanent. |
Read full reviews |
What Reddit users say about MassMutual
Reddit is an online forum where users share their thoughts in “threads” on various topics. The popular site includes plenty of discussion on financial subjects like life insurance, so we sifted through Reddit forums to get a pulse check on how users feel about insurers. People post anonymously, so we cannot confirm their individual experiences or circumstances.
The comments about MassMutual are generally positive, with users saying they like the company’s customer service and policy lineup. Some Redditors say MassMutual’s life insurance policies aren’t cheap, but are worth the higher price tag. Others report that their MassMutual agent promoted whole life insurance as an investment, which they felt was questionable advice. Overall, we saw more user questions about the best type of life insurance to buy in different situations, and whether it’s a good idea to treat a policy as an asset.
Questions from Reddit: Our experts answer
Is MassMutual’s cash value life insurance worth it?
It depends on your budget, risk tolerance and reason for buying life insurance. Cash value life insurance typically lasts your entire life, so it can be a good option for those with lifelong financial dependents, such as a child with a disability. It can also suit high net worth individuals who have maxed out tax-advantaged retirement accounts, like 401(k)s, and are looking for another way to boost tax-deferred savings. Cash value life insurance earns interest over time at either a fixed or variable rate, so it can appeal to people who want to diversify their investment portfolios. However, the cash value is slow to grow and the rates of return are relatively low compared to other investments.
Finally, cash value policies are pricey — typically at least five times as expensive as term life insurance, and sometimes as much as 20 times as expensive. Permanent life insurance is a lifelong commitment, so weigh the costs before signing up for a policy.
How does MassMutual calculate the dividend payout?
Mutual life insurance companies like MassMutual often pay annual dividends to their permanent policyholders. Typically, the company’s board of directors decides whether to pay out dividends — they’re not guaranteed — and how much money to award.
The payout is calculated based on the company’s cash reserves, operating expenses, investment returns and profits from the previous financial year. These finer details typically aren’t disclosed to policyholders. They’ll either receive a dividend or they won’t.
More about MassMutual
As a MassMutual policyholder, you can change your beneficiaries, request a cash value loan and pay your premiums via either the online portal or app.
Along with a suite of retirement and investment products and services, MassMutual offers these types of insurance:
Employee benefits, including group life insurance, critical illness insurance and accident insurance.
How to contact MassMutual
MassMutual can be reached by:
Phone: Call 800-272-2216 on weekdays from 8 a.m. to 8 p.m. ET.
Email: Fill out the form on MassMutual’s contact page.
Live chat: Not available.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Methodology
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
