Updated: March 22nd, 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 since 1851 and have never missed a dividend payment.

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.

MassMutual Whole Life Insurance Review 

You cannot go wrong with a MassMutual whole life.

MassMutual has the #1 selling whole life products in the industry. In 2018 they reached $678 million in whole life sales.

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

Company Strength 

Financial ratings are one of the most important metric you need to use when picking a life insurance company.

MassMutual has fantastic ratings throughout:

  •  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)

These are fantastic ratings that can rival any company out there.

Also, MassMutual was recognized as the World’s Most Ethical Company by the Ethisphere Institute. 

One of Americas Larges Companies

It is important to work with a strong financial company. Also, the larger they are, the more likely they are to be there when you need your life insurance.

MassMutual Highlights


You may not be familiar with some of these highlights, but they are very impressive:

  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 policy owners who utilized the accumulated cash value of their policies.
  3. MassMutual ended 2017 with $771 billion of assets under management.
  4. 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.
  5. 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. 


Participating companies pay a dividend on top of their guaranteed rate of return.

These 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.

MassMutual has paid their dividend since

The 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. MassMutual’s 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.

Dividend History

The dividend history since 2000 is very impressive:

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
8.20 8.20 8.05 7.90 7.50 7.00 7.40 7.50 7.90 7.60


2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
7.00 6.85 7.00 7.10 7.10 7.10 7.10 6.70 6.40 6.40

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

MassMutual’s Investment Portfolio

A company’s investment portfolio is important because it shows how they invest their money. This is the money that helps the performance of the cash value in all of the policies.

They have a very diversified portfolio compared to their competition.

MassMutual’s Investment Strategy

The company says that they have a long-term investment philosophy, and their actions doreflect this. MassMutual’s goal is to generate long-term competitive 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.


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 

The following is a list of MassMutual’s whole life insurance products:

  • Legacy 100- This is their oldest product. It has been sold for more than 165 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. It is excellent if you are young and want to build long term cash.
  • Legacy 20- A fantastic product with regards to cash value accumulation. You only need to pay premiums for 20 years. This is an excellent product for people in the 40’s.
  • Legacy 10- One of the best cash value accumulation products in the market place. You only pay premiums for 10 years. This is one of the best-limited pay whole life products.
  • 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. This is a product that most likely your agent will not show, as it pays the lowest commission of all.

All the previous whole life products from MassMutual are second to none. In addition, you have a wide selection of products to chose from.


The company has very strong growth and is our performing the competition for whole life insurance sales.

As we mentioned before, Mass Mutual ranked #1 in whole life insurance in sales in 2018 (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

One of the reasons for the rapid growth is that they acquired MetLife’s field force.

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

The only reason this is relevant is that you should have no trouble finding a local agent.

Lapse Ratio

A lapse is when someone decides to cancel their policy. 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 in this metric.


You will have a tougher 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.

However, if you do have health issues, there may be better choices for you.

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

Health Ratings

Here is the list of ratings that MassMutual uses from best to worst:

  • Ultra Preferred
  • Select Preferred
  • Standard
  • Select Preferred Tobacco
  • Tobacco

As we mentioned before, they have better underwriting for healthier clients.

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.

So don’t waste any time and get a quote now to compare.

The Bottom Line

Finally, their dividend of 6.40% makes MassMutual whole life insurance one of the best whole life insurances in the market place. They have fantastic ratings and track record.

Even though they had a substantial drop in their dividend rate from 7.10% from 2016, it is still among the best in the industry.

MassMutual always ranks high in our Top 7 Whole Life Insurance Companies For Cash Value

MassMutual Whole Life Quote in Seconds

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