Preview New MassMutual Products – 12 Pay Whole Life and Survivorship Whole Life 12 Pay Coming 08/20/22

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A couple great adds to the portfolio – a more death benefit oriented short pay product with great accumulation on a single life and a second-to-die.

June 1st we can begin illustrating the 12 Pay and on July 1st we will be able to start illustrating the Survivorship Whole Life 12 Pay. Both products available August 20th. 

See key dates, and transition rules; Survivorship Whole Life 12 Pay will debut concurrently

MassMutual’s Whole Life 12 Pay is a lower premium limited pay product that provides another set of solutions for accumulation case designs. The product will have a 3% guaranteed interest rate and the same features as MassMutual’s other limited pay products. Benefits include a guaranteed amount of paid-up life insurance, guaranteed cash value that increases yearly and total death benefit and total cash value that never decline in value.

MassMutual Survivorship Whole Life 12 Pay will debut concurrently, with more details to come.

Target market for MassMutual’s Whole Life 12 Pay:

  • Affluent and high net worth clients, ages 45-55
  • Clients who want to address their key financial concerns including:
    • Income protection
    • Supplemental retirement
    • Tax-efficient accumulation and diversification
    • Manage market risk
    • Legacy and wealth transfer planning
    • Long-term care planning

The LTCAccess Rider will be available with the Whole Life 12 Pay at launch. Available for an additional cost, the rider allows the policyowner to accelerate a portion of the policy death benefit to pay for covered long term care services received by the insured.

Key dates

  • June 1, 2022: First day to illustrate the new MassMutual Whole Life 12 Pay in WinFlex Web.
  • July 1, 2022: First day to illustrate the new MassMutual Survivorship Whole Life 12 Pay in WinFlex Web.
  • Aug. 20, 2022: First day to submit applications for MassMutual’s new Whole Life 12 Pay and Survivorship Whole Life 12 Pay.

Transition rules  

Applications for the new Whole Life 12 Pay will not be accepted before August 20, but pending applications can be changed to the new product on or after that date, subject to state availability. Review the transition rules for more information.