MassMutual Final Expense Insurance Company Review (2024)

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

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.

 

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