This morning MassMutual made the following announcement concerning its participation in the structured settlements business:
“Over the last year, MassMutual completed a strategic review of all its businesses. As part of this review, it was concluded that structured settlements is a niche business which is not consistent with the company’s strategic focus on growing the career agency system and sales of participating, whole life insurance. Despite favorable results and strong relationships with many of our brokers, MassMutual has made the difficult decision to stop accepting new structured settlements business.”
Last day MassMutual Provides Structured Settlement Quotes
As of January 26, 2007, MassMutual will no longer provide quotes for structured settlement cases. MassMutual will accept lock-ins through that date for cases to be funded not later than May 31, 2007.Springfield, Massachusetts based Massachussetts Mutual Life Insurance Company is one of the most highly rated and strongest life insurance companies in the United States. It is important to note that like Genworth’s decision in August 2006, this is a business decision and is no reflection on the credit quality of the company.
MassMutual has been in business since 1851
MassMutual structured settlement annuitants should be mindful of “Cash Now” Sales Pitches attempting to twist the news and unsettle them
Existing recipients of structured settlement payments from Massachussetts Mutual Life Insurance Company should not attach any credibility, or succumb to any sales pitch, from a “cash now” company, or any others, engaging in fearmongering about MassMutual.
If you have a MassMutual structured settlement and need service change of beneficiary, change of bank, change of address etc.) please contact your structured settlement broker, OR refer to the following Structured Settlement Company Customer Service Numbers page for direct contact to MassMutual.
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