MassMutual Life Insurance Review 2022

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MassMutual Life Insurance
NerdWallet rating 

Bottom line: MassMutual's strong lineup of policies and low volume of customer complaints help make it one of NerdWallet's highest-rated life insurance companies.

Policies offered: Term, permanent & no-exam.

Financial strength: Exceptional.

Complaints: Far fewer than expected.

Buy online? Yes.

In our life insurance reviews, our editorial team considers both the customer and the insurer. These are some of the factors we take into account:

Policies offered. There are many types of life insurance on the market, and they fall into three key categories:

  • Term life insurance offers temporary coverage and a guaranteed payout if the policyholder dies during the term.

  • Permanent life insurance typically lasts a lifetime and builds cash value that can be borrowed against in the future.

  • No-exam life insurance issues coverage without the need for a medical exam.

Financial strength. We use A.M. Best ratings to confirm an insurer’s long-term financial stability and ability to pay claims. For life insurance, NerdWallet typically recommends considering insurers with ratings of A- or higher. Here’s the breakdown:

  • Exceptional: A+, A++

  • Strong: A, A-

  • Moderate: B+, B

Complaints. These ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. The best life insurance companies have fewer than the expected number of complaints.

Buy online. This indicates whether an insurer allows you to apply for and buy a policy completely online.

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 primarily 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. It’s set to pay out a record $1.9 billion to policyholders in 2023


MassMutual life insurance


NerdWallet rating 

MassMutual earned 5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.

Based on these ratings, MassMutual is among NerdWallet’s Best Life Insurance Companies.

MassMutual life insurance pros and cons



Wide range of term and permanent life insurance policies.

Most policies require a life insurance medical exam.

Offers an instant life insurance policy through its subsidiary, Haven Life.

Accepts emailed claims.

MassMutual life insurance policies

MassMutual offers a mix of term and permanent life insurance.

Term life insurance. People ages 18 to 75 can apply online for a term life insurance policy lasting 1, 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.

Additionally, MassMutual offers no-medical exam life insurance through its subsidiary, Haven Life.

Whole life insurance. MassMutual has a variety of whole life insurance policies to choose from, all of which offer lifelong coverage and build cash value over time. You can apply from age 0 to 90, 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 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 rep 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 customer complaints and satisfaction

MassMutual drew significantly fewer than the expected number of complaints to state regulators for a company of its size, according to three years of data from the National Association of Insurance Commissioners.

MassMutual ranked No. 7 out of 21 companies in J.D. Power’s 2021 U.S. Individual Life Insurance Study for overall customer satisfaction


More about MassMutual

As a MassMutual policyholder, you can manage your coverage, change your beneficiaries, request a cash value loan and pay your premiums by logging into the online portal or downloading the app.

Along with a suite of retirement and investment products and services, MassMutual offers these types of insurance:

Find the right life insurance plan for you
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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.

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 2018-2020. To assess how insurers compare to 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.

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