Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Term Rider Beefs Up Whole Life Benefits

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

Massachusetts Mutual Life Insurance Company has added a rider for consumers who like the stability of traditional whole life insurance but need inexpensive term life coverage.[@@]

MassMutual, Springfield, Mass., says the rider, a renewable term life rider, provides a level amount of term life insurance for 1 year in addition to the coverage from the base whole life policy. MassMutual will renew the term coverage automatically until purchasers reach age 80 in New York state or age 90 in other states.

The minimum amount of term coverage is $100,000, and the maximum amount is 20 times the base policy amount, MassMutual says.

During a limited conversion period, purchasers of the term life rider can convert the term coverage to permanent coverage without providing proof of good health, MassMutual says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.