MassMutual Launches Online Life Insurance Pilot

by on Jul 25, 2017

MassMutual continues to expand its online life insurance offerings with the new MassMutual Direct product. While the firm offers an extensive lineup of products for purchase online, the new term policy is the first fully underwritten policy available online directly from MassMutual. Notably, the firm launched MassMutual Direct as a pilot program and is not promoting the new product. Instead, an advisor site article explains that the firm will use the pilot to gauge prospects’ organic interest without advertisements. The article promotes the Direct policy to advisors as a possible source of connections to life events and conversions to whole life insurance.

Public Site MassMutual Direct Product Page

The new product differs from the firm’s existing Guaranteed Acceptance product because premium amounts vary according to the prospect’s health status and differs from the MassMutual-backed Haven Life and ValoraLife term life products because it is sold under the MassMutual name. Prospects between the ages of 18 and 64 can purchase coverage between $100,000 and $2,000,000, with monthly premium estimates for a $100,000 nonsmoking policy ranging between $9.75 and $166.25. Like the Haven Life and ValoraLife products, the new policy targets 30- to 45-year-old prospects with incomes between $50,000 and $100,000.

A new public site homepage promotion encourages prospects to choose the right life insurance product for them with “no waiting involved” and links to the product page, which briefly describes MassMutual Direct as a way to address immediate coverage needs. The product page links to the MassMutual Direct microsite, with a quote tool that features the same narrative style as the Haven Life and ValoraLife quote tools. Prospects can create an account to apply online after obtaining a quote.

New MassMutual Direct Microsite Homepage

The MassMutual Direct pilot continues the firm’s efforts to expand its consumer base with innovative offerings. Corporate Insight’s Life Insurance Monitor tracks noteworthy products and programs in the life insurance industry, including Ladder Life, Haven Life and ValoraLife. Other blog posts highlight John Hancock’s Vitality program, USAA’s customer engagement and Prudential’s Masterpiece of Love campaign.