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Massachusetts Mutual Life Insurance

February 21st, 2017 Leave a comment Go to comments

MASSACHUSETTS MUTUAL LIFE INSURANCE


By : Aries Kurniawan

History and Understanding of Massachusetts Mutual Life Insurance

mutual life insurance

Massachusetts Mutual Life Insurance Company (Mass Mutual) Established in 1851, this company is a mutual life insurance company American office in 1800 and has 13 million customers around the world. Mass Mutual is one of the largest insurance companies of the global life insurance company, and was ranked 93 on the Fortune 500 (as of 2010). The company has revenues of approximately $ 25 billion in 2010, with Asset Management at $ 448 Billion in 2010.

Though dividends are not guaranteed, MassMutual has paid dividends to policyholders in order to become eligible to participate every year since starting in the 1860s. With whole life insurance as its foundation, MassMutual provides financial products such as life insurance, disability income insurance, long term care insurance, and annuities.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company or called Mass Mutual. MassMutual is headquartered in Springfield , Massachusetts and its main affiliates include : Babson Capital Management LLC , Baring Asset Management Limited , Cornerstone Real Estate Advisers LLC , Skylight Financial Group , to First Mercantile Trust Company , MassMutual International LLC , MML Investors Services , Inc. , member FINRA , SIPC , Oppenheimer Funds , Inc. and The MassMutual Trust Company , FSB .

Massachusetts Mutual Life Insurance Company or called MassMutual has grown from a private insurance company to finance with more than $ 448 billion in assets under management. MassMutual provides clients with life insurance, disability income insurance, long term care insurance, and annuities. The MassMutual Financial Group is a marketing designation where Massachusetts Mutual and its subsidiaries operate, has offices in the United States, Hong Kong, Japan, Taiwan, China, Macau, Chile, and Luxembourg.

Rice Massachusetts Mutual is one of about a dozen companies that have sprung into being mutual between 1843 and 1851. Mutual company into a vehicle of interest in the nascent insurance industry because they required little capital , but the Massachusetts state law required an initial stock subscription of $ 100,000 to the insurance company , so as to encourage 31 investors to buy shares in the new venture . In 1867, MassMutual retirement and became the company shares joint.

Over the next few decades, Mass Mutual’s expansion reflects developments both in the United States. In the 1850s, it is the developing countries to the west. The company follows. In 1855, the agency works in New York City, Cleveland, Chicago, and Detroit. In 1868, MassMutual before reaching the West Coast of the continental railroad was completed and set up an office in San Francisco.

Between 1850 and 1900, the volume of life insurance in force in the United States rose from $ 96 million to nearly $ 7.6 billion. Expansion and aggressive marketing is largely responsible for the growth. The end of the 19th century was a time of great technological advancement and ushered in a new era for life insurance companies. In 1885, MassMutual bought the first typewriter. After that, put the phone to facilitate communication between the agent and the home office.

As the post- war economy boomed, MassMutual continued steady growth. In 1951, assets totaled $ 1.4 billion and the company has more than $ 3 billion of insurance in force. Home office staff numbered 1,350, serving a client base of more than 700,000. There are 87 general agencies and 110 local agencies in 44 countries. This decentralization is a key to the success of the insurance company Mass Mutual. The company employs a general agent who in turn employs and trains local group’s agent. Successful general agents are often promoted to the Springfield home office. To further develop the strength of the field agent, MassMutual provide a training program for field representatives and encourage workers to complete the Chartered Life Underwriter the American College designation. This system works. Between 1948 and 1957, the amount of life insurance in force doubled, from $ 2.7 billion to $ 5.4 billion.

Massachusetts Mutual Life Insurance Company operates as a mutual life insurance company in the United States and Puerto Rico. offers a variety of products and solutions , including annuities , college savings plans ( 529 ) , disability income insurance , individual retirement accounts , investments , life insurance , long term care insurance , mutual funds , retirement accounts management , pension plan , annuity fund contract terminal , and trust services . The company offers products and services for individuals, families, businesses, and organizations.

In 2014, MassMutual hopes to offer $ 150,000 in total funding, helping at least 30 students entering their sophomore, junior year, senior, or a fifth of the undergraduate courses with scholarships worth up to $ 5,000. Students must complete and submit a federal financial aid by completing the Free Application for Federal Student Aid Form (FAFSA) and are interested in pursuing a career in the insurance industry and financial services.

Thus had the history and understanding of the insurance company MassMutual , for those of you who are interested and want to know more details about the insurance company , you can come or call at :

Massachusetts Mutual Life Insurance
1295 State Street
Springfield , MA 01111
U.S.
Established in 1851
Phone : 413-744-1000

 

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