Updated: Feb 5th, 2019

You cannot go wrong with MassMutual Whole Life Insurance. They constantly rank among the best in price, cash value, strength...


MassMutual is a Fortune 100 Company with very high quality ratings and a long history of performance. They have been around for more than 160 years. MassMutual is one of the 3 big mutual companies that remain from the old days. They are committed to a small product base, and in particular to their best selling whole life insurance. In addition, for the year ended December 31, 2016, sales of whole life insurance were $657 million, up 35 percent from 2015 (source here).

MassMutual Whole Life Insurance Review

You cannot go wrong with a MassMutual whole life. In most of our rankings (Price, Cash Value Growth, Income at Retirement) MassMutual constantly ranks either #1 or #2. Their whole life product is the winner among the competition in so many areas, that you will be very happy with their whole life. 

MassMutual Whole Life Quote in Seconds

New Logo

2017 is a big year for MassMutual. They are entering with 9,500 agent field force, and they are making changes everywhere. They recently changed to the new logo:

MassMutual Logo
MassMutual Logo

Company Strength 

MassMutual has fantastic ratings all through out:

  •  A.M. Best Company: A++ (Superior; top category of 15)
  •  Fitch Ratings: AA+ (Very Strong; second category of 21)
  •  Moody’s Investors Service: Aa2 (Excellent; third category of 21)
  •  Standard & Poor’s: AA+ (Very Strong, second category of 21)

Again MassMutual Recognized as the World’s Most Ethical Company by the Ethisphere Institute.

Read more here

One of Americas Larges Companies

MassMutual Highlights


  1. Increased total adjusted capital to a record $17.4 billion — surplus grew to $15.7 billion.
  2. At year-end 2017, more than $13 billion in policy loans were outstanding, loaned to policyowners who utilized accumulated cash value of their policies.
  3. MassMutual paid $5.1 billion in insurance and annuity benefits in 2017.
  4. MassMutual ended 2017 with $771 billion of assets under management.
  5. The company provided nearly $20 million in charitable contributions in 2017. They focused on financial literacy, education and economic development in our communities, and evolved our FutureSmartSM financial education program for middle- and high school students, offering an innovative digital curriculum that has already educated more than 1 million students across the United States.
  6. Issued more than $700 million of life insurance coverage since 2002 through MassMutual’s LifeBridgeSM Free Life Insurance Program. This program provides free life insurance to benefit the children of eligible working parents or guardians and MassMutual pays the premiums.


Dividends are paid out when there is a company surplus. This is primarily the result of favorable operating experience with respect to claims (death benefits paid), investment results and expenses. A portion is set aside to be paid or applied as policy dividends in the following year.

Current MassMutual dividend is among the highest from the Mutual Companies. With a current participating dividend of 6.40% they are one of the best in the whole market place. Actually MassMutual dividend is only rivaled by a few like: Penn Mutual and Foresters. Also, their commitment to return a significant dividend is one of their strong points.


MassMutual’s Investment Portfolio

MassMutual’s Investment Strategy

The company states that they have a long-term investment philosophy. This is tailored to a specific goal as a mutual life insurance company. The goal is to generate competitive long-term results while maintaining the ability to weather downturns in financial markets.

With this strategy MassMutual has been able to achieve solid long-term investment returns for the benefit of their policyowners without exposing them to unnecessary risk, even in unpredictable markets and economic cycles.

Dividend History

The dividend history since 2000 is very impressive:





As you can see that is a strong dividend, to see a complete historical analysis you can read: Whole Life Dividend Rate Historical Analysis


The MassMutual Whole Life Insurance Performance numbers that we run at Top Whole Life show MassMutual among the top 5 constantly for Cash Value Growth and Income from Whole Life Insurance. 

MassMutual Financials
MassMutual Financials

Product Features 

Here is a list of their whole life insurance products:

  • Legacy 100- Their oldest product. It has been sold for more than 160 years.
  • Legacy 65- A product that is guaranteed to be paid up (no more premiums) at age 65. This is one of the best sellers, and it is often utilized when whole life is presented as an income stream at retirement.
  • Legacy 20- A fantastic product with regards to cash value accumulation. Only pay premiums for 20 years.
  • Legacy 10- One of best cash value accumulation products in the market place. Only pay premiums for 10 years.
  • Legacy HECV- Utilized in business insurance frequently. This product will have 90% of the premium in cash in the first year. We have a complete article dedicated to this product: High Early Cash Value Life Insurance.


The company has very strong growth and is rapidly passing the competition for whole life insurance sales. Ranked #1 in whole life insurance in sales in 2017 (source MassMutual).

Sales of whole life insurance2 reached $678 million, an increase of more than $20 million, marking the 12th consecutive year of record sales, continuing a growth rate that has outpaced the industry over the past decade, and solidifying MassMutual’s position as the number-one writer of whole life insurance in the U.S.3

As a matter of fact they just purchased all of the field force from MetLife in a historic event: https://www.massmutual.com/about-us/news-and-press-releases/press-releases/2016/07/05/07/02/massmutual-completes-acquisition-of-the-metlife-premier-client-group

Now MassMutual has a field force of more than 9,500 agents. 

Lapse Ratio

Lapse ratio is almost a measure of customer satisfaction. Policyowners who are satisfied with the value and service they receive might tend to be less likely to lapse their life insurance policies. MassMutual drastically outperforms the competition.


It’s a tough underwriting process with MassMutual than your average company. If you have average health or better, you will not have any issues otherwise they will be tougher than normal.

We have seen cases that MassMutual declines, but they get a great rating with Foresters or Penn Mutual.

MassMutual Whole Life Strong Points

Our Whole Life Insurance Calculator software gives these as MassMutual’s strong competitive advantage:

  • Cash Value accumulation after 10-15 years
  • Income at Retirement from Cash Value
  • You can apply online with the help of an agent and e-sign your application.

The Bottom Line

Their dividend of 6.40% makes MassMutual whole life insurance one of the best whole life insurances in the market place. Even thought they had a large drop in their dividend rate from 7.10% from 2016, it is still among the best in the industry and they made our:

Top 7 Whole Life Insurance Companies For Cash Value

MassMutual Whole Life Quote in Seconds

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