MassMutual Introduces New Life Insurance Product Portfolio

SPRINGFIELD, Mass., Sept. 13 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) today announced the launch of Vantage Term(SM), an innovative term life insurance product line that provides policyholders with high value for their premium dollar, affordable options, and increased flexibility in meeting their protection needs. MassMutual is also debuting a new online calculator that offers a more comprehensive picture of how much life insurance is needed to replace the income and services he or she provides to loved ones.

The Vantage Term portfolio features both a 10-year and 20-year level premium product, as well as an annually renewable term product. The new product line boasts a significant advantage: the option to convert to MassMutual's entire line of permanent life insurance policies without the need for a future health assessment – meaning no physical or additional medical questions asked.

"Term life insurance with an option to convert to permanent solutions addresses the reality for many people in that the need for life insurance doesn't disappear, it may just evolve," said Melissa Millan, senior vice president, U.S. Insurance Group, MassMutual. "Vantage Term provides a cost-effective coverage option for younger families just starting out, as well as the opportunity to achieve lifelong financial protection as people age and their financial needs change. Convertible term insurance enables you to keep your policy with the same financially strong company that you started with, while providing the benefit of lifelong coverage that may offer additional advantages, such as a guaranteed death benefit, cash value build-up and the potential to earn dividends."

The new Vantage Term product line includes an optional rider:* the Waiver of Premium Rider, which guarantees that the policy will stay in force even if the insured becomes disabled. It also includes an Accelerated Death Benefit Rider,** which provides the policyowner an advance on death benefits, should he or she become terminally ill.

To coincide with the roll out of its Vantage Term product line, MassMutual is also launching the Lifetime Economic Value tool, an easy-to-use online calculator which uses a sophisticated formula to estimate the total economic contribution a person will earn for his or her household over the course of his or her working life. This figure correlates to the amount of life insurance a person may need to replace those earnings by factoring in an individual's total income earned before retirement, as well as employer-provided retirement and health insurance benefits. The tool also accounts for the value of personal services the person provides for his or her family – everything from lawn care and snow removal to filing the annual tax return. The calculator is available on MassMutual's website: www.massmutual.com/planningtools/life-value-calculator.

"If your family relies on you financially, it's critical to determine how much life insurance you may need to help protect your and their financial future," said Damon Bates, vice president, U.S. Insurance Group, MassMutual. "Yet, many Americans don't know how much they may actually need. Instead of relying on any rules of thumb, the Lifetime Economic Value tool provides as effective a measure as possible to help you determine your life insurance coverage needs. From there, you can design a strategy that's best for you, which may include a mix of term and permanent life insurance coverage to provide what you need today with options for the future."

Visit www.massmutual.com to learn more or to contact a qualified financial professional.

About MassMutual

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

*Available at an additional cost.

**Included at no additional cost at issue. If you become terminally ill, as the insured and the policy owner, you can receive an advance of policy death benefits. These funds may be used for any purpose; for example, to pay medical and everyday living expenses. There will be administrative and interest charges upon exercising the rider. Not available in the state of New York.

Vantage Term Life Insurance Policies (Policy Form TL-2009 and ICC09TL in certain states, including North Carolina) are participating, annually renewable term life insurance issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. Dividends are not expected to be paid.