MassMutual DI Updates
From Mass Mutual:
There’s been a lot of positive changes recently at Mass, so I apologize for all the info at once but wanted to pass this along per our conversation! Attached are our updated Express Underwriting and Starting Professionals increases. I also included our newer Target Markets pieces. And for more great info like this, please see our DI HUB.
I’m excited to let you know we have substantially increased our Individual DI issue limits by up to $4,000.
Also, I’m excited to announce that we have eased doing business with high net worth clients! We have increased our Unearned Income Guideline Target to 20% up from 15% and completely eliminated our Net Worth Guidelines and need for Net worth Statement. These upgrades will help you compete in the affluent and emerging affluent marketplace and streamline the process to provide the most DI protection for your clients (see below and attached).
Lastly, Mass’s niche market for DI is white collar, white coat. Also, remember that DI is a young man’s game (premium pricing). Further, prospects whose occupations have the least amount of physical labor, invasive work (i.e. medical/dental), and risk along with more education, office work, ability for growth, etc. is where we typically will shine. Here is a sampling of our best competitive occupations:
-Attorneys (we offer a 10% association discount for the American Bar Association)
-CPA’s and other accountants, auditors
-Executives (virtually any industry)
-Computer Industry: tech engineers, programmers, analysts, admin/management, web developers
-Statisticians
-Finance Industry: banking officers, investment bankers, financial planners, portfolio managers, economists, insurance agents/brokers
-Actuaries (FSA, ASA, FCA, ACA, MAAA)
-Architects
-Comptrollers
-Engineers
-Education: professors, deans, principals, superintendents of schools, guidance counselors, tenured teachers (5 years or more and/or master’s degree)
-Scientists (office or lab work)
-HR managers
-Librarians
-Lobbyists
-Medical: hospital admin/execs, psychologists, psychiatrists, psychotherapists, licensed social workers, optometrists, allergists, small animal veterinarians and basically any specialized medical/dental along with what we call “starting professionals” – see piece attached).