Classic products, innovative results

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1 A Product Reference Guide for MassMutual Brokerage Financial Professionals Classic products, innovative results MassMutual life insurance products at-a-glance for brokers Insurance Strategies FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

2 Contents 3 Quality Service for You and Your Clients 4 MassMutual Underwriting Our Experience Working for You 5 Quality Products for Your Clients Varied and Changing Needs 6 Whole Life Insurance Products 8 Universal Life Insurance Products 9 Variable Universal Life Insurance Product 10 Convertible Term Life Insurance Products 11 LTC/Life Insurance Combination Product NOT A BANK OR CREDIT UNION DEPOSIT OR OBLIGATION NOT FDIC OR NCUA INSURED NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NOT GUARANTEED BY ANY BANK OR CREDIT UNION MAY GO DOWN IN VALUE (Variable Life Products only)

3 Quality Service for You and Your Clients The value that MassMutual Brokerage provides to you and your clients is a balanced blend of strength, products and service. We re dedicated to supporting you and helping you to grow your business. Local support: It s what sets us apart from many other financial services companies. As a financial professional with MassMutual Brokerage, you will work directly with a Brokerage Team that will provide the training, marketing, and technical support necessary to successfully build your business and best serve your clients. Your Brokerage Director will be your one-stop shop for: Marketing support Product expertise and positioning Illustration support Case design and consultation Developmental training and seminars Estate and business planning resources. For more information, contact your local MassMutual Brokerage Director. 3

4 MassMutual Underwriting Our Experience Working for You At MassMutual, you ll find a dynamic, highly skilled, experienced underwriting team that offers you: On-site physicians, including a board-certified cardiologist, to review medical information on applications Aggressive preferred criteria that includes clients with certain well-controlled conditions such as high blood pressure or cholesterol Full underwriting for older ages can even qualify for best class Occasional cigar smokers (up to 24 per year) are eligible for best class in a permanent product MassMutual s Underwriting Credits Program uses credits to offset the risk of unfavorable medical conditions. Credits are available to clients with elements of good health, such as favorable cholesterol, blood pressure, family history and abstinence from nicotine use. Life underwriting credits can make a significant difference in a client s underwriting class and premium. The use of credits can lower a table rating by up to two tables, and can reduce ratings up to Table P. Credits provide you with a competitive advantage over other companies table-shave programs because credits are available for all products, all face amounts and all ages. The SuperPool agreement allows MassMutual to offer more life insurance to prospective healthy insureds over and above jumbo limits of up to $30 million of additional coverage to an individual, subject to facultative underwriting. Vantage Term Vantage Term Life Insurance also offers new advantages resulting from the Straight-Through-Processing (STP) initiative. This initiative is part of the refinement and enhancement of the underwriting process to expedite underwriting decisions, to improve MassMutual s mortality experience, and to make it easier for you, our financial professionals, to do business. If your client is applying for both Vantage Term and a permanent product, be sure to follow underwriting requirements for the combined face amount of coverage requested. Ask for the U98 Life Underwriting Requirements Guide for full details. MassMutual has negotiated access to an exclusive SuperPool TM reinsurance agreement that allows us to offer more coverage to your best clients. Under this SuperPool arrangement, your high net worth clients, highly insured individuals and clients in good health are not subject to previous reinsurance aggregate face amount maximums. 4

5 Quality Products for Your Clients Varied and Changing Needs Whether the need is for protection for a family or business, MassMutual has a life insurance solution you can be proud and confident to present to your clients. Personal needs: Family income replacement Retirement planning Education funding Estate planning Business needs: Buy-sell plan funding Key person Executive bonus Deferred compensation Split dollar If you re looking for life insurance for your client s qualified pension plan, nearly all MassMutual individual life insurance products can be used in qualified plans. You can choose from products offering guarantees, fixed or flexible premiums and a broad range of funding options. Whole life insurance is the cornerstone of MassMutual s portfolio. That s because whole life insurance delivers a financial resource your clients can count on throughout their whole lives. whole life insurance. Riders, which are available at an additional cost, allow your clients to: Have their premiums paid if they become totally disabled and can t work; Increase their coverage regardless of health status; Boost their death benefit with lower-cost term insurance on the same policy, which can be converted to permanent coverage; Make unscheduled premium payments that increase the policy s death benefit and accelerate cash value growth. Issuing Company information This guide provides information on the following life insurance products issued by Massachusetts Mutual Life Insurance Company: Vantage Term - ART, Vantage Term - 10 and Vantage Term - 20 (Policy form TL-2009 and ICC09TL in certain states, including North Carolina), Whole Life Legacy Series (WL-2007 and WL-NC-2007 in North Carolina), Whole Life Legacy Series (WL-2011, ICC11WL, and ICC11WL in North Carolina), Single Premium Whole Life insurance, (SPWL-2013, ICC13SPWL and ICC13SPWL in North Carolina), Survivorship Whole Life (policy form SWL-2007, ICC07SWL and ICC07SWLX in certain states, including North Carolina), Universal Life Navigator (policy form P6-2008, ICC08P6 and ICC08P6X in certain states, including North Carolina), Universal Life Guard (policy form P and P8-2005(NC) in North Carolina), Survivorship Universal Life Guard (policy form P and P9-2005(NC) in North Carolina) and Variable Universal Life III (policy form P2-2008, ICC08-P2 and ICC08-P2X in certain states, including North Carolina). The versatility of MassMutual s Whole Life Legacy portfolio provides a wide range of options to customize your clients Guarantees are based on the claims-paying ability of the issuing company. Variable life insurance is sold by prospectus. Before purchasing a variable life insurance policy, investors should carefully consider the investment objectives, risks, charges and expenses of the variable life insurance policy and its underlying investment choices. For this and other information, obtain the prospectuses for the variable life insurance policy and its underlying investment choices. Please read the prospectus carefully before investing or sending money or recommending to a client. You must be a registered representative of MML Investors Services, or a broker-dealer having a selling agreement with MML Strategic Distributors, LLC to discuss or offer variable products to the public. 5

6 Whole Life Insurance Products Product Summary Whole Life Legacy 100 SM Whole Life Legacy 65 SM Whole Life Legacy 20 Pay SM Level premium, participating life insurance policy that provides a level, guaranteed face amount for the lifetime of the insured. Premiums are payable to age 100. The policy provides guaranteed cash value accumulation and is eligible to receive dividend payments.1 Offers the ability to increase the face amount. Each increase will require evidence of insurability and will have its own risk classification. Level premium, participating life insurance that provides a level, guaranteed face amount for the lifetime of the insured. Premiums are payable to age 65. The policy provides guaranteed cash value accumulation and is eligible to receive dividend payments.1 Offers the ability to increase the face amount. Each increase will require evidence of insurability and will have its own risk classification. Level premium, participating life insurance policy that provides a level, guaranteed face amount for the lifetime of the insured. Guaranteed to be fully paid after 20 premium paying years. The policy provides guaranteed cash value accumulation and is eligible to receive dividend payments. 1 Markets Non-qualified and Qualified Non-qualified and Qualified Non-qualified and Qualified Minimum Face Amount Non-qualified - $25,000 Qualified - $10,000 Minimum increase - $25,000 Issue Ages Non-qualified Ages 0 to 90 Qualified Ages 17 to 90 Premiums Policy Size Bands Underwriting/ Substandard Classifications The annual premium equals the basic annual premium plus the policy fee ($50), any classified (substandard) premium and any rider premiums. Face amount increases will not be subject to an additional policy fee. Band 1 = $1,000 - $24,999 (Used only for below minimum issue sizes due to GIR option exercises and full-term conversions.) Band 2 = $25,000 - $99,999 Band 3 = $100,000 - $249,999 Band 4 = $250,000 - $999,999 Band 5 = $1,000,000 and greater Both gross premium and dividends1 will vary based on the above face amount bands. Bands will automatically reset based upon the new face amount if there are any increases or decreases to the base policy face amount after issue. For policies with face amounts below $50,000 and for face amount increases below $50,000, only the Non-Tobacco and Tobacco risk classes are available. $25,000 for both Non-qualified and Qualified Minimum increase - $25,000 Non-qualified Ages 0 to 60 Qualified Ages 17 to 60 The annual premium equals the basic annual premium plus the policy fee ($50), any classified (substandard) premium and any rider premiums. Face amount increases will not be subject to an additional policy fee. Band 1 = $25,000 - $99,999 Band 2 = $100,000 - $249,999 Band 3 = $250,000 - $999,999 Band 4 = $1,000,000 and greater Both gross premium and dividends1 will vary based on the above face amount bands. Bands will automatically reset based upon the new face amount if there are any increases or decreases to the base policy face amount after issue. For policies with face amounts below $50,000 and for face amount increases below $50,000, only the Non-Tobacco and Tobacco risk classes are available. $25,000 for both Non-qualified and Qualified No increases allowed. Non-qualified Ages 0 to 75 Qualified Ages 17 to 75 The annual premium equals the basic annual premium plus any substandard premium and any rider premiums. Basic annual premiums vary based on issue age, gender, underwriting class and base policy face amount. Band 1 = $25,000 - $99,999 Band 2 = $100,000 - $249,999 Band 3 = $250,000 - $999,999 Band 4 = $1,000,000 and greater Dividends1 will vary based on the above face amount bands. Bands will automatically reset based upon the new face amount if there are any decreases to the base policy face amount after issue. For policies with face amounts below $50,000 only the Non-Tobacco and Tobacco underwriting classes are available. Riders SM LTCAccess 2,+ Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases SM LTCAccess 2,+ Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases SM LTCAccess 2,+ Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases Riders are subject to state availability and may have an additional cost. 1 Dividends are not guaranteed. 2 Subject to state availability. + Check LTCAccess Rider State Availability Chart (LI6052) for details. 6

7 Whole Life Legacy 10 Pay SM Whole Life Legacy High Early Cash Value SM Survivorship Whole Life Level premium, participating life insurance policy that provides a level, guaranteed face amount for the lifetime of the insured. Guaranteed to be fully paid after 10 premium paying years. The policy provides guaranteed cash value accumulation and is eligible to receive dividend payments.1 Level premium, participating life insurance that provides a level, guaranteed face amount for the lifetime of the insured and is designed to provide high early cash values. Premiums are payable to age 85. The policy provides guaranteed cash value accumulation and is eligible to receive dividend payments.1 Offers the ability to increase the face amount. Each increase will require evidence of insurability and will have its own risk classification. Non-qualified and Qualified Non-qualified and Qualified Non-qualified Second-to-die, level-premium, participating, permanent insurance providing a level, guaranteed death benefit. Premiums are payable until the second death or to age 100 of the younger insured, if earlier. The policy provides guaranteed cash value accumulation and is eligible to receive dividend payments.1 Upon first death, dividends and cash value may increase. $25,000 for both Non-qualified and Qualified No increases allowed. Non-qualified Ages 0 to 75 Qualified Ages 17 to 75 The annual premium equals the basic annual premium plus any classified (substandard) premium and any rider premiums. Band 1 = $25,000 - $99,999 Band 2 = $100,000 - $249,999 Band 3 = $250,000 - $999,999 Band 4 = $1,000,000 and greater Dividends1 will vary based on the above face amount bands. Bands will automatically reset based upon the new face amount if there are any decreases to the base policy face amount after issue. $100,000 for both Non-qualified and Qualified Minimum increase $25,000 Non-qualified Ages 0 to 75 Qualified Ages 17 to 75 The annual premium equals the basic annual premium plus the policy fee ($50), any classified (substandard) premium and any rider premiums. Face amount increases will not be subject to an additional policy fee. Band 1 = $100,000 - $249,999 Band 2 = $250,000 - $999,999 Band 3 = $1,000,000 and greater Dividends1 will vary based on the above face amount bands. Bands will automatically reset based upon the new face amount if there are any increases or decreases to the base policy face amount after issue. $100,000 No increases allowed. 18 to 90 (both insureds must be in this range) No more than a 30-year age difference between insureds. The annual premium equals the basic annual premium plus the policy fee ($50), any classified (substandard) premium and any rider premiums. N/A For policies with face amounts below $50,000 only the Non-Tobacco and Tobacco risk classes are available. For face amount increases below $50,000 only the Non-Tobacco and Tobacco risk classes are available. Additional mortality 1000% and 2000% on one insured only SM LTCAccess 2,+ Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases SM LTCAccess 2,+ Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases Estate Protection Policy Split Option Supplemental Insurance Purchase Additional Life Insurance Purchase 7

8 Universal Life Insurance Products Universal Life Guard Universal Life Navigator Survivorship UL Guard Product Summary Flexible premium universal life insurance offering the ability to guarantee the death benefit. Flexible premium adjustable universal life insurance. Flexible premium, second-to-die universal life insurance offering the ability to guarantee the death benefit. Markets Non-qualified and Qualified Non-qualified and Qualified Non-qualified and Qualified Minimum Face Amount $50,000 No increases after issue $50,000 Minimum increase - $25,000 $100,000 No increases after issue Issue Ages 0 to 85 0 to 90 With DBO 3 Age 0 to to 85 (both insureds must be in this range) No-Lapse Guarantee Any duration up to lifetime Five-year only (P5) Any duration up to lifetime Death Benefit Options Death Benefit Option (DBO) 1 - face amount DBO 4 - face amount plus Specified Premium Account value (SPA) DBO 1 - face amount DBO 2 - face amount plus account value DBO 3 - face amount plus premiums paid and not refunded, with interest for the first five policy years or without interest DBO 1 - face amount DBO 4 - face amount plus Specified Premium Account value (SPA) Maturity Policy does not mature at any age. Must have $.01 of net surrender value, or satisfy the GDB Safety Test at attained age 121 to remain in force after age 121. After age 121, no cost of insurance charges are deducted from the account value. Policy does not mature at any age. Must have $.01 of net surrender value to remain in force after age 121. After age 100, no charges are deducted from the account value, and no premium payments are allowed except as needed to keep the policy in force. Loan interest will continue to accrue and loan payments are permitted beyond age 100. Policy does not mature at any age. To continue coverage beyond the younger insured s age 121, the policy must have $0.01 of cash value as of the younger insured s attained age 121 or must have satisfied the GDB Safety Test at the younger insured s attained age 121. Underwriting/ Substandard Classifications Uninsurable class Table Ratings: B, C, D, E, F, H, J, L, and P Riders Substitute of Insured Waiver of Specified Premium Disability Benefit Other Insured (spouse or child) Substitute of Insured Waiver of Monthly Charges Waiver of Specified Premium Estate Protection Policy Split Option Substitute of Insured 8

9 Variable Universal Life Insurance Product Variable Universal Life III Product Summary Participating, flexible premium, adjustable variable universal life insurance that provides while in force permanent death benefit protection with the ability to allocate net premiums to a Guaranteed Principal Account (GPA) and several investment divisions of the Separate Account. Markets Minimum Face Amount Non-qualified and Qualified Issue Ages 0 to 90 With DBO 3 age 0 to 70 (0 to 59 in CA) No-Lapse Guarantee $50,000 for both Non-qualified and Qualified Minimum increase - $25,000 Increases allowed until age 90 No face amount increases after age 70 with Death Benefit Option (DBO) 3 1st Guarantee Period (P-9): Guaranteed for the first nine years of the policy 2nd Guarantee Period (P-Life): Guaranteed for the lifetime of the insured (State restrictions may apply.) The P-9 and P-Life premiums vary by issue age, gender, underwriting class and death benefit option. They are also impacted by substandard ratings and the addition/deletion of coverage segments and riders. Death Benefit Options DBO 1 - face amount DBO 2 - face amount plus account value DBO 3 - face amount plus premiums paid and not refunded, with interest for the first five policy years or without interest Maturity VUL III provides coverage for as long as it remains in force. The policy does not provide for an endowment in any year except where a state requires a maturity date. No charges (administrative, insurance or applicable rider charges) will be deducted from the Account Value beyond attained age 120. Premium payments will not be permitted beyond attained age 120. Loan interest will continue to accrue and loan payments will be permitted beyond attained age 120. To remain in force beyond attained age 120, the policy must have $0.01 of cash surrender value as of the insured s attained age 121 and beyond, or it must be supported by the secondary guarantee. Underwriting/ Substandard Classifications Riders Disability Benefit Other Insured (spouse or child) Substitute of Insured Waiver of Monthly Charges Waiver of Specified Premium 9

10 Convertible Term Life Insurance Products Vantage Term - ART (VT-ART) Vantage Term - 10 (VT-10) Vantage Term - 20 (VT-20) Product Summary Initially the lowest price term option with premiums that are guaranteed and increase annually. The policy is annually renewable to age 90. Premiums are guaranteed and remain level for the initial 10-year term. In the 11th year the policy premiums begin to increase annually. The policy is annually renewable to age 90. Premiums are guaranteed and remain level for the initial 20-year term. In the 21st year the policy premiums begin to increase annually. The policy is annually renewable to age 90. Level Premium Guarantee Period 1 year 10 years 20 years Markets Non-qualified and Qualified Non-qualified and Qualified Non-qualified and Qualified Minimum Face Amount The minimum policy face amount is $100,000. The contract will terminate if the face amount drops below the minimum policy face amount for any reason. The minimum policy face amount is $100,000. The contract will terminate if the face amount drops below the minimum policy face amount for any reason. The minimum policy face amount is $100,000. The contract will terminate if the face amount drops below the minimum policy face amount for any reason. Issue Ages Age 18 to 75 (19 to 75 in WA) Age 18 to 65 (19 to 65 in WA) Age 18 to 65 (19 to 65 in WA) Renewability Renewable to Age 90 Renewable to Age 90 Renewable to Age 90 Convertibility Convertible for the earlier of 10 years or anniversary nearest age 65. Minimum conversion period of five years. Convertible for the earlier of 10 years or anniversary nearest age 65. Minimum conversion period of two years. Convertible for the earlier of 10 years or anniversary nearest age 65. Minimum conversion period of two years. Policy Size Bands Premiums will vary based on the face amount bands below. If a partial term conversion results in the term policy moving to another band, premiums will continue to be calculated on the previous/higher band basis. Premiums will vary based on the face amount bands below. If a partial term conversion results in the term policy moving to another band, premiums will continue to be calculated on the previous/higher band basis. Premiums will vary based on the face amount bands below. If a partial term conversion results in the term policy moving to another band, premiums will continue to be calculated on the previous/higher band basis. Band 1 = $100,000 - $249,999 Band 2 = $250,000 - $499,999 Band 3 = $500,000 - $999,999 Band 4 = $1,000,000 - $4,999,999 Band 5 = $5,000,000 and greater Band 1 = $100,000 - $249,999 Band 2 = $250,000 - $499,999 Band 3 = $500,000 - $999,999 Band 4 = $1,000,000 - $4,999,999 Band 5 = $5,000,000 and greater Band 1 = $100,000 - $249,999 Band 2 = $250,000 - $499,999 Band 3 = $500,000 - $999,999 Band 4 = $1,000,000 - $4,999,999 Band 5 = $5,000,000 and greater Policy Fee $75 annually. Fee is not commissionable. $75 annually. Fee is not commissionable. $75 annually. Fee is not commissionable. Underwriting/ Substandard Classifications Table Ratings: A, B, C, D, E, F, H, and J Table Ratings: A, B, C, D, E, F, H, and J Table Ratings: A, B, C, D, E, F, H, and J Riders Riders are subject to state availability and may have an additional cost. 10

11 LTC/Life Combination Product CareChoice SM One 3 Product Summary Single premium whole life insurance policy with a qualified long term care insurance rider (LTCI Rider) designed to help your clients prepare for their future long term care needs. It offers a combination of benefits which includes: A pool of benefits that can be used to help pay long term care expenses on a monthly basis; The payment of an income tax-free death benefit if long term care is never needed; or The option to surrender the policy at any point for the Policy Surrender Value. Markets Minimum Face Amount Non-qualified The minimum face amount is the amount purchased by the minimum single premium of $25,000. Minimum face amounts may vary based on state. Issue Ages Age (35-65 for Tobacco risk class) Premiums The single premium for CareChoice One is comprised of a premium for the whole life policy and a premium for the LTCI Rider. Policy Size Bands N/A Underwriting/ Substandard Classifications Substandard ratings are not available Riders LTCI Rider (cannot be separated from the policy) for Terminal Illness 3 Subject to state availability. Refer to the CareChoice One State Availability Chart (LI9046) for details. 11

12 MassMutual. We ll help you get there. There are many reasons to choose a life insurance company to help meet your clients financial needs: protection for their family or business, products to provide supplemental income and the confidence of knowing your clients will be prepared for the future. At Massachusetts Mutual Life Insurance Company (MassMutual), we operate for the benefit of our participating policyowners. We stand strong in the fundamental belief that every secure future begins with a good decision. And when choosing a life insurance company ownership, strength and stability matter. Learn more at Principal Underwriters: MML Investors Services MML Strategic Distributors, LLC Subsidiaries of Massachusetts Mutual Life Insurance Company 1295 State Street Springfield, MA Massachusetts Mutual Life Insurance Company, Springfield, MA All rights reserved. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. LI7010B 814 CRN