A large insurer is changing its executive benefits rate structure.[@@]
The insurer, Massachusetts Mutual Life Insurance Company, Springfield, Mass., says it will be lowering the cost of executive group life insurance products for employees who remain actively at work.
The new rate structure, available to purchasers of new executive group life policies, should lower employers’ costs, according to MassMutual.
MassMutual will review employers periodically to see if they continue to qualify for the new rate structure.
MassMutual also is lowering minimum size requirements for executive group life plans to 30 participants, $30,000 in group premiums and death benefits, and $50,000 in minimum employee income.