Written by Ty Stewart - Last Updated August 15, 2019Compare companies and policies that offer guaranteed universal life in our 2019 rankings.
Quick Summary: Pricing is not competitive for most age bands. If you are over 70 or looking to do a single premium payment, then should be considered. Rider options are very limited and pricing is hard to obtain. Extremely strong company that has been doing life insurance for almost 200 years.
About the Company - Mass Mutual
The Massachusetts Mutual Life Insurance Company is one of the oldest and strongest life insurance carriers around. They got their start in 1851 and now have close to 10,000 advisers in offices worldwide.
From a financial perspective, Mass Mutual checks all the boxes that give policy owners confidence. Currently servicing $560 Billion in active life insurance, they are backed up by total assets over $400 Billion.
Insurance rating organizations hand out top marks to Mass Mutual based on their stability and a positive outlook for the future. This includes an "A++ Superior" from A.M. Best and an "Aa2 Excellent" from Moody's Investor Service.
What is Guaranteed Universal Life Insurance? (expand to learn more)
About the Mass Mutual Guaranteed Universal Life Insurance Policy
Product Name
UL Guard
Death Benefit
$100,000 to No Maximum
ISSUE AGE
0 to 80
Coverage Length
To age 121
Mass Mutual Underwriting Secrets
We have found Mass Mutual to a little on the "tough" side overall when it comes to underwriting. This doesn't mean you should just skip them. Most life insurance companies have their niches and strengths and it's not different at Mass Mutual.
The secret to finding the cheapest life insurance rates is applying at the company that will view you most favorably. Just going with the one that shows the lowest rates can be a BAD idea and end up costing you more money.
Mass Mutual underwriting is competitive and forgiving for the following situations:
Mass Mutual may NOT be a good choice for:
Cost - Sample Rates
The pricing for Mass Mutual guaranteed universal life is higher than most carriers. Our analysis of all carriers shows us a couple situations where you may want to take a look at them.
- Over age 70. Their sweet spot seems to be the senior market once you start to get in the 70-75 age range. Keep in mind, all carriers will charge rather high premiums in this age band to reflect the risk of offering new life insurance policies at older ages.
- Single Pay Premium. If you are looking to dump a large sum of money into a GUL policy and only pay the premium one time, Mass Mutual has some of the most attractive rates at any age.
Mass Mutual does not allow their premium pricing to be published online. You can compare several top guaranteed universal life insurance carriers available in your state by using our GUL quote tool.
Pros
One of the highest rated companies for financial strength
Good pricing for age 70+
Cons
Pricing is expensive for most ages, cheaper options available
Very limited rider and policy options
Not willing to share pricing online without speaking to a sales rep
Extras, Options, and Flexibility
Mass Mutual's rider options fall short vs the competition. They include very little with the base policy and do not offer additional options even if you are willing to pay for them. I don't understand why they do this.
Automatically Included at No Extra Cost
Accelerated Death Benefit Rider - Take a part of the death benefit (up to $25,000). This is available if the insured has been diagnosed with a terminal illness and given less than 12 months to live (in some states 24 months).
This rider cannot be used for a chronic or critical illness in the way that the North American GUL policy provides.
How To Make Sure You Choose the Right Universal Life Insurance Policy
The best advice I can give is to always work with an independent agent. If you call a company direct, they'll only push their products on you, and you save nothing. Rates are fixed by your state laws.
Life insurance is the ONLY thing we do. We know the ins and out of 60+ companies and can find you the lowest rates. Every. Single. Time.
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