MassMutual Term Reprice

MassMutual Term reprice scheduled for Sept. 7

The product continues to provide affordable life insurance coverage with competitive convertibility options.

We continually perform due diligence to price our products appropriately to maintain our financial strength, stability, and policy owner value. As a result, MassMutual’s term life insurance portfolio will be repriced in September, with premiums rising for all products by an average of 8-10% for key ages, bands, and risk classes.

Key points

• Please note this is a reprice only. There are no contractual, functional, or compensation changes to our term products.
• The reprice impacts all 10 of MassMutual’s convertible term products:

Annual Renewable Term (ART), Term 10, Term 15, Term 20, Term 25, Term 30, Term 15 ECP (Extended Conversion Period), Term 20 ECP, Term 25 ECP, and Term 30 ECP.

Key dates in the rollout:

• Aug. 1: Presentations available for the new rate series.
• Sept. 3: Paper or emailed applications received by 3:00 pm ET on Sept. 3 will be issued under the old rate series. Any applications received between 3:00pm ET on Sept. 3 and 8:00 pm ET on Sept. 6 will be considered on an exception basis.
• Sept. 6: iGo-submitted applications received at MassMutual by 11:59 p.m. ET on Sept. 6 will be issued under the old rate series. Cases locked and out for signature at that time and completed after this deadline will be issued under the new series rates.
• Sept. 7: First day to submit applications for new series policies.
• See transition rules for complete details.

Producer collateral:

• MassMutual Term Producer Reference Guide (LI5330e) 
• MassMutual Term – Competitive Advantages (CI1066LIa)
• Whole Life vs. Term Life Insurance – A Historical Perspective (LI1003)

Consumer collateral:

• MassMutual Term Client Guide (LI5337)
• Group vs. Individual Term Life Insurance (LI5333c)