Important Levinson News and Updates – Mass Mutual 4/03/24
MassMutual Whole Life 8 Pay: Application Submissions Begin
MassMutual is adding even more flexibility to its Whole Life Product Portfolio with the addition of the new 8 Pay. The new product has the shortest payment period in MassMutual’s whole life spectrum and can be a good fit in a wide variety of sales situations including:
Death benefit protection
Opportunity for supplemental income in retirement
Non-qualified executive benefits
Premium Financing
Whole Life 8 Pay will be a modified endowment contract (MEC) under most circumstances.2 Combining the base product with the Life Insurance Supplement Rider (LISR) or Renewable Term Rider (RTR) to meet premium budget may also prevent MEC status while providing a competitive death benefit and cash value accumulation.
MassMutual Whole Life 8 Pay application submissions are live as of March 29th. Review the Whole Life 8 Pay Transition Rules here.
