Log in INSURANCE Life Insurance Overview A life insurance policy from MassMutual can help protect your loved ones in the event of your passing. There are two main types of life insurance: term and permanent. Term is for a specific period of time; permanent life insurance provides a death benefit that can last a lifetime, so no matter when you pass, your loved ones will receive a payment. And some of our permanent policies offer the opportunity to build cash value , which you’re able to use however you’d like.1 GET STARTED NOW Get a quote or Contact a Financial Professional How much life insurance do I need? I was born on and my ZIP code is . I need life insurance to protect just me a dependent adult my spouse/partner my spouse/partner and kids my kids . Get Started How does life insurance work? With term and permanent life insurance, you make premium payments so that in the event of your passing, your loved ones and beneficiaries will receive the death benefit proceeds from the policy, income tax free. Term insurance is for a certain period of time, while permanent is for life as long as the premiums are paid. Who should consider life insurance? If you have anyone that depends on you financially or if you don’t want to leave your loved ones with burial costs or debt, then you should consider life insurance. And if you’re just starting out and want to lock in an affordable rate for when you have a family, different types of life insurance can help with that, too. Life insurance can help with your financial goals Cover your mortgage Cover other debt including student and business loans Pay for college expenses Fund retirement goals for your spouse Need more information? Compare term life to permanent life insurance options Life insurance types TERM LIFE INSURANCE Lasts for a specific, pre-set period Term Life Insurance Term life insurance provides you affordable, convenient coverage for a certain amount of time – the term during which you pay your premiums – and it is often convertible to a permanent policy. PERMANENT LIFE INSURANCE Lasts your entire lifetime Participating Whole Life Insurance With whole life insurance, you’re guaranteed a death benefit, and you’re able to build up cash value over time. The cash value portion of your policy grows tax-deferred. In addition, you have the opportunity to earn dividends2, which are not guaranteed. Universal Life Insurance Much like whole life, universal life insurance has the potential to build cash value with the additional benefit of flexible premiums. This means if you ever need to lower your premiums for a specific time period, you may be able to. Variable Universal Life If you’re interested in controlling how your premiums are invested, then variable universal life insurance may be an option for you. Like universal life, variable universal life insurance has flexible premiums and the potential to build account value with various investment options. Compare Insurance Types What is the process for getting a life insurance policy? When you work with a financial professional, you can expect: 1. Analyze During your initial phone call, your financial professional will ask you questions to understand your financial goals and objectives. 2. Recommend After looking at your entire financial picture, your financial professional will provide you with suggestions to fill in the gaps so you can choose the products best suited for your situation. 3. Purchase If you're satisfied with their recommendations, they work with you to secure the products and services to help ensure your financial future. This may require a medical exam. 4. Review Your financial professional will work with you over time through periodic reviews to help you monitor the strategies in place, and their capacity to continuously meet your goals. Contact a Financial Professional Learn more Your ultimate life insurance roadmap Life insurance term to permanent questions Single? 3 reasons why you still might need life insurance How to prepare for your first meeting with a financial professional Why MassMutual SINCE 1851 we've been helping people secure their financial future and protect the ones they love MORE THAN $830B of life insurance protection in force as of 12/31/20 NAMED FOR THE 8th year in a row to World's Most Ethical Companies list by Ethisphere® Institute DELIVERED $6.2B in life insurance and annuity benefits paid in 2020 What's behind MassMutual's financial strength 1 Access to cash values through borrowing or partial surrenders will reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured. 2 Dividends are not guaranteed. Insurance products issued by Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA 01111-0001) and its subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (Enfield, CT 06082). Securities offered through registered representatives of MML Investors Services, LLC (MMLIS), Member SIPC® (www.SIPC.org), or a broker-dealer that has a selling agreement with MML Distributors, LLC (MMLD), Member SIPC®, or MML Strategic Distributors, LLC (MSD). MMLIS, MMLD, and MSD are subsidiaries of Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001, Members FINRA (www.FINRA.org). Get the latest insurance, retirement, and financial planning news. 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