MassMutual Introduces New Life Insurance Product Portfolio

Massachusetts Mutual Life Insurance Company (MassMutual) 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."