Two ways to pay
Direct payment
Financial protection your loved ones deserve
Updating your payment method means everything.
- Hold onto your coverage. Keep the protection you and your loved ones already enjoy. Don’t walk away from it.
- Keep any cash value that's in your certificate: Your coverage will build cash value over time — which you can borrow from if you have a need.1
- Retain your guaranteed rate. Your premium payment will never go up as long as your policy remains in force.
- Stay dividend-eligible. Your certificate is eligible to receive dividends beginning on the second anniversary. While dividends aren't guaranteed, MassMutual has paid them to eligible participating policy and certificate owners every year since 1869.
- Avoid exams and new paperwork. If your certificate lapses, in order to get new coverage, you'll need to apply and may also need to take a medical exam.
How do the payment options stack up?
There are two ways to pay, and payment frequencies include a monthly, quarterly, semi-annual or annual basis. Monthly is only available by pre-authorized check (PAC) and all others by either direct paper bill or PAC. Monthly billing is not available for direct paper bill.
Need to adjust your payment schedule? No problem. Give us a call at 1-844-975-7522.
| Pre-Authorized Check (PAC) | Direct paper bill | Automated | Flexible |
| No missed payments (provided sufficient funds are available) | Creates detailed payment record |
| Most popular | Self-managed |
FAQs
Why are my premiums no longer being deducted from my paycheck?
Your job status has changed, but your coverage is still active. By changing your payment method, you're simply removing the intermediary and paying for your coverage directly.
Will my premiums change as a result of changing my payment method?
No — everything about your coverage will stay exactly the same.
Can I still access my cash value and dividends?
Absolutely. Learn more by calling 1-844-975-7522.
What happens if I miss my deadline to pay my premium:
Following each premium due date, there is a 31-day Grace Period to pay the premium due. You may have several options depending on your specific circumstances:
- Automatic Premium Loan: If you opted for this benefit, MassMutual can automatically make a loan to cover the premium due if it is not paid by the last day of the Grace Period.
- Note: If your available cash value is not enough to pay the full premium due (based on the current premium frequency) or the maximum loan amount has been reached, the certificate will be Surrendered or Terminated (see Surrender and Termination below).
- Reduced Paid-Up Life Insurance: With this option, you may be able to use the available cash value as a single premium payment to purchase a fully paid-up certificate.
- Note: Your available cash value must be enough to purchase at least $1,000 of fully paid-up coverage. Otherwise, we will Surrender the certificate (see Surrender below).
- Surrender: This option allows you to end your coverage in exchange for any available cash value you may have accumulated, minus any loan balance (if applicable). This option works with any cash value amount.
- Termination: If none of the above options apply or are chosen, and the premium is not paid by the end of the Grace Period, the Certificate will lapse as of the due date of that premium, ending your coverage.
Will my dependent policies be changed?
No — by updating your payment method, your coverage and the coverage of any dependents remain unchanged.
Do my coverage and living benefits like cash value and Chronic Care Benefit2 remain the same:
If your certificate remains in force, your life insurance protection and any living benefit features, such as cash value increases and the Chronic Care Benefit,2 will continue.
Can I change my coverage after I update my payment method?
No — increases and decreases of the face amount are not allowed.
Can I cancel my coverage?
Yes, you can cancel — just call 1-844-975-7522.
What happens to my coverage if I start working for a new employer?
Nothing. By changing your payment method, you're simply continuing your relationship with MassMutual on a direct basis. As long as you continue to make premium payments, your coverage will continue.
Can I change the frequency with which I pay my bill:
Regardless of whether you choose PAC or Direct Paper Billing, yes, you have options. To see the default amount billed and the frequency of billing, check the letter you originally received informing you of changes in the way your premium is collected. If you need more information or if you're ready to make a change, feel free to reach out to us at 1-844-975-7522, Monday through Friday, 8 a.m. to 6 p.m. EST.
Contact us
Have more questions? Need more information? Our on-demand support is here to help. We're at 1-844-975-7522 Monday through Friday, 8 a.m. to 6 p.m. EST.
Thank you for choosing MassMutual. We’re committed to protecting you and those that depend on you — today and tomorrow.
The product and/or certain features may not be available in all states. State variations will apply.
1 Access to cash values through borrowing or partial surrenders will reduce the certificate’s cash value and death benefit, increase the chance the certificate will lapse, and may result in a tax liability if the certificate terminates before the death of the insured.
2 The Chronic Care Benefit is not available in Massachusetts.
Group Whole Life Insurance (GPWL), (policy/certificate forms MM-GPWL-2014 and MM-GCWL-2014, and MM-GPWL-2014 (NC) and MM-GCWL-2014 (NC) in North Carolina), is level-premium, participating permanent life insurance. The GPWL policy and GCWL certificates are issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001.