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Whole life insurance is a permanent policy that provides a guaranteed death benefit for your loved ones and lasts a lifetime provided premiums are paid and policy has not lapsed or terminated. Unlike term insurance, it builds guaranteed cash value over time, which you can use however you choose¹. Participating whole life policies may also earn dividends², which can be used to increase the death benefit, grow the policy’s value, or help pay premiums.

If you know you need life insurance but aren’t sure it fits your budget, a term life insurance policy may be a strong option. You choose how long the coverage lasts—typically 10, 20, or 30 years—based on what suits your needs. Term life is typically affordable, and your premium payments are generally guaranteed to stay the same throughout the selected period.

Life changes, and your insurance should keep up. A universal life insurance policy offers permanent coverage with flexible premiums. You can adjust the amount you pay each year, or even month to month, as long as you maintain enough account value to cover the cost of insurance and administrative charges. Some policies also include a guaranteed death benefit, ensuring your family receives a lump sum payout when you pass away.

We know that choice can make all the difference. If you’re looking for permanent life insurance that gives you control over investment options within your policy, consider variable universal life insurance (VUL). VUL offers flexible premium payments, letting you choose both the amount and frequency within set limits. These policies provide access to multiple investment options, helping you align the policy with your goals and risk tolerance. Account value increases or decreases based on the performance of the investment accounts.  A decrease in account value due to market fluctuation can lead to additional premiums to keep the policy in force.

A disability income insurance policy (DI) helps protect your income if you become too sick or injured to work for an extended period of time. It can cover a portion of lost income, including bonuses and commissions. If others rely on you financially, or you have college tuition and mortgage payments to manage, DI is worth considering. Even with group long-term disability coverage through an employer, individual coverage may still leave less risk on the table.

You and your loved ones shouldn’t have to worry about affording care if you’re no longer able to manage your daily needs, especially later in life. Long-term care (LTC) is designed to support your health and personal care over time. This may include non-skilled assistance with Activities of Daily Living like bathing, dressing, toileting, transferring, managing incontinence, and eating. Thinking ahead can help ensure the plans you’ve made for retirement are not interrupted by an LTC event and help minimize the impact on your family.

A variable annuity is designed to help grow your savings on a tax-deferred³ basis, for long-term goals like retirement. One advantage of a variable annuity is the ability to invest in the stock market for uncapped growth potential⁴, while still diversifying⁵ your holdings. You can tailor your investment choices based on your retirement goals, time horizon, and risk tolerance.

A fixed deferred annuity offers a guaranteed fixed rate of interest that helps you save for retirement while avoiding short-term market volatility. This can give you greater confidence and peace of mind as you plan for the future. Many fixed annuities also provide the option of guaranteed lifetime income.

MassMutual partners with employers to offer benefit solutions that help you protect your loved ones and build long-term financial security. If your employer provides access to MassMutual voluntary benefits, explore your coverage options—you may have more available than you realize. Making the most of your workplace benefits can strengthen your overall financial plan.