Classic Products, Innovative Results

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1 A Product Reference Guide for Financial Professionals Classic Products, Innovative Results Life insurance products at-a-glance Insurance Strategies FOR PRODUCER USE ONLY. NOT FOR USE WITH THE PUBLIC.

2 Contents 1 Quality Service for You and Your Clients 2 MassMutual Underwriting Our Experience Working for You 3 Quality Products for Your Clients Varied and Changing Needs 4 Whole Life Insurance Products 6 Survivorship Whole Life Insurance Products 6 Variable Universal Life Insurance Product 7 Universal Life Insurance Products 8 Convertible Term Life Insurance Products 9 Non-Convertible Term Life Insurance Products 9 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 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, offering you: An experienced home office sales support team you can call toll-free for assistance with case design, illustrations, and questions about products Dynamic website for tracking your business, servicing your clients, online support and information, and access to illustration software Nationwide support from skilled wholesalers who promote the unique benefits of MassMutual products in presentations, meetings and individual cases Access to MassMutual s team of Estate and Business Planning attorneys for complex case design and group presentations For more information, call , ask for any of the following departments; Life Sales Desk Estate & Business Planning Advanced Sales Illustration Support Life Inforce Illustrations Life New Business Processing 1

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. 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. 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. Refer to the Life Underwriting Requirements Guide (U98) or the Underwriting section on FieldNet for full details. 2

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. Participating 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. The versatility of MassMutual s Whole Life Legacy portfolio provides a wide range of options to customize your clients 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, non- guaranteed term insurance on the same policy, which can be converted to permanent coverage; and 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 Legacy (policy form SWL-2015, ICC15SWL and ICC15SWL in 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). 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. 3

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 policy 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 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 dividends 1 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. $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 dividends 1 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. $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 Both gross premium and dividends 1 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. 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. For policies with face amounts below $50,000 only the Non-Tobacco and Tobacco underwriting classes are available. Riders LTCAccess SM 2 Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases LTCAccess SM 2 Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases LTCAccess SM 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 Check LTCAccess Rider State Availability Chart (LI6052) for details. 4

7 Whole Life Legacy 10 Pay SM 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 Whole Life Legacy High Early Cash Value SM Level premium, participating life insurance policy 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 $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. Non-qualified and Qualified $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 = $25,000 - $99,999 Band 2 = $100,000 - $249,999 Band 3 = $250,000 - $999,999 Band 4 = $1,000,000 and greater Dividends 1 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. Band 1 = $100,000 - $249,999 Band 2 = $250,000 - $999,999 Band 3 = $1,000,000 and greater Dividends 1 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 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. LTCAccess SM 2 Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases LTCAccess SM 2 Additional Life Insurance* Life Insurance Supplement* Renewable Term* Transfer of Insured Yearly Term Purchase *Not available for Qualified cases 5

8 Survivorship Whole Life Insurance Products Variable Universal Life Insurance Product Survivor Legacy Survivor Legacy 20 Pay 3 Variable Universal Life III Product Summary Survivorship Whole Life Legacy 100 (Survivor Legacy 100) is a level premium, second-to-die, participating whole life insurance policy offering a guaranteed death benefit and cash value, and the potential to earn dividends, which are not guaranteed. Premiums for the base policy are payable to age 100 of the younger insured. Survivor Legacy 100 also offers the ability to increase coverage using coverage segments. Each increase will require evidence of insurability and will have its own risk classification. Survivorship Whole Life Legacy 20 Pay (Survivor Legacy 20 Pay) is a level premium, second-to-die, participating whole life insurance policy offering a guaranteed death benefit and cash value, and the potential to earn dividends, which are not guaranteed. Premiums for the base policy are payable for 20 years. Product Summary Markets Minimum Face Amount 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. Non-qualified and Qualified $50,000 for both Non-qualified and Qualified Increases allowed until age 90 Minimum increase - $25,000 No face amount increases after age 70 with Death Benefit Option (DBO) 3 Markets Non-qualified and Qualified Non-qualified and Qualified Issue Ages 0 to 90. Maximum issue age for DBO 3 is 70. Maximum issue age in California is 59. Minimum Face Amount $100,000 $100,000 Issue Ages Issue ages: Maximum difference in age between the two insureds is 25 years. Premiums Policy Size Bands 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. Premiums are payable until age 100 of the younger insured. N/A Table ratings (permanent or temporary) of A, B, C, D, E, F, H, J, L, P, and U (used for an uninsurable) are available. Issue ages: Maximum difference in age between the two insureds is 25 years. 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. Premiums are payable for the first 20 years. N/A Table ratings (permanent or temporary) of A, B, C, D, E, F, H, J, L, P, and U (used for an uninsurable) are available. No-Lapse Guarantee Death Benefit Options Maturity 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. 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 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. Riders for Terminal Illness of Surviving Insured Estate Protection Policy Split Option Survivorship Additional Life Insurance Survivorship Life Insurance Supplement upon Death of Specified Insured Accelerated Death Benefit for Terminal Illness of Surviving Insured Estate Protection Policy Split Option Survivorship Additional Life Insurance Survivorship Life Insurance Supplement upon Death of Specified Insured Riders Select Preferred Non-Tobacco Disability Benefit Other Insured (spouse or child) Table Ratings: A, B, C, D, E, F, H, J, L and P Substitute of Insured Waiver of Monthly Charges Waiver of Specified Premium Riders are subject to state availability and may have an additional cost. 3 This product may not be available in all states. 6

9 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. 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 7

10 Convertible Term Life Insurance Products Product Summary Level Premium Guarantee Period Vantage Term - ART (VT-ART) Vantage Term - 10 (VT-10) Vantage Term - 20 (VT-20) 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 year 10 years 20 years 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. 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. 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. 8

11 Non-Convertible Term Life Insurance Products LTC/Life Combination Product Non-Convertible Term (NCT) 4, 5 Non-Convertible Survivorship Term (NCST) 5, 6 CareChoice SM One 7 Product Summary Level Premium Guarantee Period Provides term insurance on the life of one insured for one year. NCT may also be used in the calculation of the taxable economic benefit of single-life split dollar plans. 1 year 1 year Attractive in situations where the need for insurance protections is limited. NCST may also be used in the calculation of the taxable economic benefit of second-to-die split dollar plans. 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 Non-qualified and Qualified Non-qualified and Qualified Markets Non-qualified Minimum Face Amount $5,000 $25,000 Issue Ages Minimum Face Amount 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) Renewability Not renewable Not renewable Convertibility Not convertible Not convertible 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 None None Policy Size Bands N/A Policy Fee $125 per policy $125 per policy Unisex, Unismoke only Unisex, Unismoke only ratings are not available Riders None None Riders LTCI Rider (cannot be separated from the policy) for Terminal Illness Riders are subject to state availability and may have an additional cost. 4 Not available in: CT, DC, MD, NJ, NY, NC, OR, PR, UT, VA and WI 7 Subject to state availability. Refer to the CareChoice One State Availability Chart (LI9046) for details. 5 Subject to state availability. 6 Not available in: CT, DE, MD, MA, NJ, NY, NC, OR, PR, UT, VA and WI 9

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. LI7010C 216 CRN