Fully underwritten term
A traditional underwriting process requires a thorough review—including a full medical exam—to qualify. Your health status could result in a lower premium cost.
- Coverage amount: $100,000 to $3,000,000 (max of $1,000,000 for ages 60-64)
- Level term options: 10, 15, 20 or 30 years
- Underwriting requirements: Medical exam required in most cases
- Age and health: Ages 18 to 64, with some pre-existing conditions acceptable
- Policy issuance: 0-30 days, so long as applicants complete the medical exam (if required)
- Insurer: Massachusetts Mutual Life Insurance Company (MassMutual)¹
Simplified issue term
Simplified Issue is a convenient way to process term insurance that does not require a medical exam or lab tests. You'll get a faster underwriting decision, but generally a higher premium cost due to the limited underwriting and medical evidence of insurability.
- Coverage amount: $25,000 to $500,000
- Level term options: 5, 10, 15
- Underwriting requirements: No medical exam or lab tests required² (Issuing the policy or paying its benefits depends on the applicant’s insurability, based on their answers to the health questions in the application, and their truthfulness.)
- Age and health: Ages 20 to 50³, dependent on health history
- Policy issuance: Instantly, if qualified
- Insurer: C.M. Life Insurance Company - a subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual)⁴