MassMutual Disability Insurance Review

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MassMutual, one of the long-standing insurers in the nation, offers disability insurance that’s a great fit for high-income earners looking to earn dividends.

Basics

Founded 1851
A.M. Best rating A+
BBB rating A+
Company info “MassMutual was founded on May 15, 1851. And from the beginning, we’ve had a single purpose: to help people secure their future and protect the ones they love. More than 160 years later, that commitment remains our guiding principle. It’s behind everything we do and every decision we make. It’s how we continue to deliver products and services to help our policyowners and customers achieve their financial goals, and protect those who matter most.”

Ratings

Evaluation 3.5/5 - One of the strongest carriers, MassMutual offers a great product for high-income earners and includes the potential for dividends.
Contract 4/5
Application process 2/5
Customer service 4/5
Underwriting 4/5

Base Policy Details*

Product name Radius
Elimination period 60 days, 90 days, 180 days, 365 days, 730 days
Benefit period 2 year, 5 year, 10 year, Age 65, Age 67, Age 70
Definition of disability Own Occupation not working (True Own Occupation available with rider)
Guarantee Guaranteed Renewable and Non-cancelable
Partial/residual disability Basic Partial Disability

Built-in Features*

Waiver of Premium No premiums once claim is approved.
Presumptive Total Disability Presumes total disability if you lose sight, hearing, speech, hands, or feet. No elimination period and full benefit paid regardless of employment.
Rehabilitation Benefit Vocational training and education to help return to work.
Recurring Disability Elimination period waived if a new disability is related to a previous claim.
Automatic Benefit Increase Rider Automatically increases the monthly benefit for the first five years without underwriting, unless declined.
Dividends After five years, policy is eligible to participate in non-guaranteed dividends.

Additional Riders Available*

Catastrophic Disability Benefit Rider An additional monthly benefit is paid if you cannot perform 2 or more Activities of Daily Living.
Cost of Living Adjustment Rider Increases the monthly benefit while on claim.
Extended Partial Disability Benefit Rider Extends benefits paid for loss of income beyond 24 months.
Future Insurability Option Lets you increase the coverage on an annual basis, with no medical underwriting.
Group Supplement Rider Provides additional return to work benefits.
Own Occupation Rider Changes the definition of disability to True Own Occupation.
RetireGuard An additional monthly benefit paid to replace retirement contributions.
Social Insurance Rider Part of the monthly benefit could be reduced if you qualify for social security disability.
Student Loan Rider Pays an additional benefit, up to $2,500 per month, to cover qualified student loans.
Short-Term Disability Benefit Rider Pays a benefit for a short term during waiting period of group plans.

*Subject to availability based on individual applicant’s personal profile.

Last updated on Oct 5th 2017