MassMutual Increases Retention Limits Effective 07/18/22
As a fast follow to my last newsletter, I’m excited to announce that effective July 18, 2022, MassMutual has substantially increased our internal life retention from $20 million to $30 million* on individual Whole Life policies. On Survivorship Whole Life, our retention is increasing to a maximum of $35 million* from $25 million. These increases are for our Whole Life product portfolio only, and the Additional Life Insurance Rider (ALIR). The ALIR benefit is included in the total retention limit.
Additionally, this news increases the retention limits for other special cases such as private pilots in our aviation program, and professional athletes. These significant increases, combined with our participation in two reinsurance top tier Super Pools, further establishes MassMutual as a leading carrier on large cases, and in situations in which there are large total lines exceeding the industry jumbo limits of $65 million.
Take a look at our updated Life Retention and Capacity Limits flyer to view these new changes.
As with any application for insurance, the application and underwriting processes remain unchanged. Note: The use of internal retention is business as usual. MassMutual also can secure larger amounts of coverage—potentially up to $100 million—on a case-by-case basis by combining facultative reinsurance with internal retention.
What’s Up Next
Over the next several months, we will present pertinent case studies which will introduce MassMutual as either a lead carrier for Whole Life coverage, or a co-leading carrier by leveraging our strong reinsurance partnerships and access to capacity. Lastly, it will further demonstrate how MassMutual can support retention-only situations in which product diversification is critical to the portfolio of life coverage.
Again, the ability to increase our internal retention has numerous benefits as outlined above. Stay tuned for more underwriting announcements over the upcoming weeks. I am confident the timing of all this exciting news provides plenty of opportunities to finish the year on a strong note with MassMutual.