MassMutual life insurance rates vary by health classification, age, smoking status and coverage amount. The table below reflects costs for different term lengths across coverage levels.
MassMutual Life Insurance Review 2026
MassMutual earned a MoneyGeek score of 3.7 out of 5, with average term life rates at $54 per month for women and $67 per month for men on a $500,000, 20-year policy for a 40-year-old nonsmoker in average health.
Select age group
Updated: March 18, 2026
Advertising & Editorial Disclosure
At a Glance: MassMutual Life Insurance Review
Mass Mutual
MoneyGeek Rating
3.7/ 5
3.2/5Affordability
4/5Customer Experience
4.3/5Coverage Points
Average Monthly Cost
$54 (F); $67 (M)Ages Supported
18-75Max Coverage
$10 million
MassMutual Life Insurance Policy Options
MassMutual offers term life, whole life, universal life and variable universal life insurance. As a mutual company, the policyholders own MassMutual. This allows it to focus on long-term value rather than shareholder returns. The insurer primarily targets buyers seeking permanent coverage with cash value growth and dividend potential.
Term Life Insurance
MassMutual's term life insurance products have term lengths of 10, 15, 20, 25 and 30 years. Issue ages range from 18 to 75, depending on the term selected. Policies are convertible to permanent coverage without additional medical underwriting, and level premiums are guaranteed for the entire term.
Whole Life Insurance
MassMutual's whole life insurance products include Whole Life Legacy 65, Whole Life Legacy 100, Whole Life Legacy 10-, 12-, 15-, 20-Pay, and Whole Life Legacy High Early Cash Value. Policies build guaranteed cash value and are eligible for annual dividends, which MassMutual has paid every year since 1869. Lifelong coverage is guaranteed as long as premiums are paid.
Universal Life Insurance
Universal life insurance products include survivorship universal life. Premiums are flexible within set minimums and maximums, and death benefits are adjustable over time. Cash value accumulates based on a declared interest rate or index-linked crediting, offering a balance of growth potential and downside protection.
Variable Universal Life Insurance
MassMutual's variable universal life products lets you allocate cash value across equity, bond and money market sub-accounts. This structure offers higher growth potential but also carries investment risk, making it a good fit for risk-tolerant buyers with a long time horizon.
MassMutual Life Insurance Riders
Riders let you customize base coverage to match specific financial risks and life stage needs. Availability varies by product type.
Accelerated Death Benefit Rider
The accelerated death benefit rider allows policyholders diagnosed with a qualifying terminal, critical or chronic illness to access a portion of the death benefit early. Qualifying conditions include terminal illness with a life expectancy of 12 months or less, or chronic illness requiring substantial assistance with daily activities. Any accelerated amount reduces the remaining death benefit paid to beneficiaries.
Waiver of Premium Rider
The waiver of premium rider waives all ongoing policy premiums if the insured becomes totally disabled and unable to work for a defined period, usually six months or longer. Eligibility is subject to underwriting approval and may be limited by occupation class. This rider is generally available up to age 60 at time of application.
Child Rider
The child rider provides term life coverage for all eligible children of the insured under a single rider, without requiring individual policies for each child. Coverage can be converted to a permanent policy when the child reaches adulthood.
Guaranteed Insurability Rider
The guaranteed insurability rider lets you buy additional life insurance coverage at specified option dates without providing evidence of insurability or undergoing new medical underwriting. Option dates are tied to policy anniversaries or life events such as marriage or the birth of a child. Maximum additional coverage amounts are set at the original policy issue.
Paid-Up Additions Rider
Available on eligible whole life policies, the paid-up additions rider lets you contribute premium dollars above the base policy premium to buy fully paid-up units of additional whole life insurance. This accelerates cash value growth and increases dividend-earning potential. Contribution limits are defined by IRS guidelines for modified endowment contract testing.
Long-Term Care Rider
The long-term care rider, available on select permanent policies, allows you to draw against the death benefit to cover qualifying long-term care expenses such as nursing home or home health aide costs. The benefit is structured as an acceleration of the death benefit rather than a standalone LTC benefit. The remaining death benefit is reduced dollar-for-dollar by any LTC amounts accessed.
How Much Is MassMutual Life Insurance?
Data filtered by:
20
40
Female
No
| $100,000 | $17 | $201 |
| $250,000 | $27 | $327 |
| $500,000 | $54 | $642 |
| $750,000 | $77 | $930 |
| $1,000,000 | $100 | $1,206 |
| $2,000,000 | $197 | $2,364 |
How to Get a MassMutual Life Insurance Quote
- 1
Collect health and financial information
Prepare your medical history, prescription records, current income, existing life insurance coverage amounts and beneficiary information before starting the application. MassMutual's underwriting process uses this data to assign a health classification that determines your final rate.
- 2
Choose a coverage amount and term length
Financial advisors generally recommend buying 10 to 12 times your annual income in life insurance coverage. MassMutual offers term lengths of 10, 15, 20, 25 and 30 years. Select a term that aligns with your longest outstanding financial obligation, such as a mortgage or the number of years until your youngest child reaches financial independence.
- 3
Request a quote
MassMutual doesn't offer a fully self-service online quoting tool for most products. You can get quotes through a licensed MassMutual financial advisor or independent agent.
- 4
Complete the application and underwriting
After submitting your application, MassMutual's underwriting team reviews your medical and financial information. A paramedical exam may be required for larger coverage amounts, typically $1 million or above. Standard underwriting decisions are typically returned within two to four weeks; accelerated underwriting for eligible applicants may be faster.
- 5
Review the policy during the free look period
Once the policy is issued and delivered, you have a free look period (10 days to 30 days, depending on your state) to review all terms and conditions. If you cancel during this window, MassMutual will refund all premiums paid in full, with no penalty.
MassMutual vs. Other Life Insurance Companies
MassMutual is one of the best life insurance companies for families, offering extended child coverage up to $20,000 for dependents 14 days old through age 26.
MassMutual and Northwestern Mutual both hold AM Best A++ ratings, making both strong choices for buyers prioritizing financial strength. For people who prioritize affordability, other companies like Transamerica may be a better option.
People who prioritize dividend yield as a primary cash value driver should compare declared rates directly before committing. For a comprehensive comparison of carriers, see our guide to the best life insurance companies.
Is MassMutual Right for You?
MassMutual is a strong fit for buyers who prioritize financial stability and long-term permanent coverage with dividend potential. A 40-year-old woman in average health pays an average of $54 per month for $500,000 of 20-year term coverage, while a man with a similar profile and coverage pays an average of $67 per month. Whole life buyers seeking cash value accumulation and dividend income will find MassMutual's mutual structure and 150-year dividend track record compelling.
MassMutual may not suit people who want to complete the entire buying process online without speaking to an agent. People looking for the cheapest life insurance should also review other companies.
Frequently Asked Questions
What term lengths does MassMutual offer?
MassMutual offers term life insurance in 10-, 15-, 20-, 25- and 30-year terms. Availability by term length may vary depending on the applicant's age and state of residence. All term policies include a conversion option to permanent coverage without additional medical underwriting.
Does MassMutual pay dividends on life insurance policies?
Yes. Eligible whole life policyholders may receive annual dividends, which MassMutual has paid every year since 1869. Dividends aren't guaranteed, but MassMutual's uninterrupted dividend history reflects the strength of its mutual company structure. You can apply dividends to reduce premiums, purchase paid-up additions or receive cash.
What riders does MassMutual include on term policies?
Standard riders available on MassMutual term policies include the Accelerated Death Benefit Rider, Waiver of Premium Rider and Child Rider. The Guaranteed Insurability Rider may also be available depending on the policy and state of issue. The Paid-Up Additions Rider is available on whole life products only.
Is MassMutual life insurance available in all states?
MassMutual offers life insurance in all 50 states and Washington, D.C. Certain products and riders may not be available in every state. Applicants in New York should confirm product availability with a licensed agent, as certain policy structures are subject to state-specific regulatory requirements.
MoneyGeek analyzed data from life insurance companies using quotes for the baseline profile: age 40, average health, nonsmoker, $500,000 coverage, 20-year term, with rates shown for both male and female. The MoneyGeek Score weighting is: Affordability 50%, Customer Experience 30%, Coverage 20%. Affordability is based on average quotes. Customer experience data incorporates J.D. Power study scores, AM Best financial strength ratings and NAIC complaint index figures. Coverage options include policy offerings, riders, coverage limits, issue ages and other unique features.
Rate data reflects MoneyGeek's 2026 life insurance dataset. Ratings and complaint index data are sourced from the most recently available annual publications from AM Best, J.D. Power and the NAIC.
Related Pages: Other Company Reviews
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- MassMutual. "Life Insurance." Accessed March 17, 2026.
- MassMutual. "MassMutual Term Personal Guide." Accessed March 17, 2026.
- MassMutual. "Mutual Funds, Variable Insurance Funds, and Variable Products: Performance & Regulatory Documents." Accessed March 17, 2026.
- MassMutual. "Retirement Supplement With participating whole life insurance from Massachusetts Mutual Life Insurance Company (MassMutual)." Accessed March 17, 2026.