GROUP WHOLE LIFE INSURANCE

Group Whole Life Insurance

Learn more about this valuable coverage
from MassMutual ^® for employees of MUSC Physicians.

Open enrollment is November 4th to November 15th for a December 1st effective date.

What is Group Whole Life Insurance?

This certificate is offered through your employer. It can provide lifelong coverage¹ and important financial protection for your loved ones. Plus it comes with many valuable features that can make it a smart move for your long-term financial wellness.

How does Chronic Care Benefit work?

Chronic Care Benefit, which is automatically part of your Group Whole Life insurance coverage can can help to help reduce the financial stress that often comes with being Chronically Ill.

Am I eligible to apply?

As an employee of MUSC Physicians, you are eligible to enroll in this exclusive underwriting offer during this initial open enrollment.

What features do I get with my coverage?

Your Group Whole Life Insurance comes with valuable features that make it the choice of many employees:

Rates lock in for life. Your premium payment is set at the time of purchase, so the amount you pay never changes.
For additional information, click here.

Portability. You own your certificate along with the accumulated cash value. You can take it with you, even if you change jobs.

Dividend eligible. Certificate owners are eligible to receive dividends each year. Although they are not guaranteed, MassMutual has paid dividends to eligible participating policy/certificate owners every year since 1869.
For additional information, click here.

Builds Cash Value. Over time, your policy accumulates cash value. That's an amount of money you can borrow against in the future, for any reason.
For additional information, click here.

Easy Application. Just answer a few questions to determine your eligibility. There's no medical exam needed.

Innovative riders and features, including a Chronic Care Benefit.

TERM INSURANCE VS. WHOLE LIFE

Life Insurance 101

Term Life	Perm Life	Whole Life
Provides temporary coverage for a specific period of time and only provides death benefit protection Premiums, the amount you pay for coverage, are level and more affordable initially; costs can increase upon renewal past the initial term It typically doesn't build cash value like renting an apartment there is no equity in a term policy, and when the term ends the coverage also ends	It's yours for life as long as you pay the premiums Premiums are generally higher than they are for term coverage Has the potential to build cash value, which like equity in your home, can be used to help address life's opportunities and challenges	A type of permanent life insurance Participating whole life has the potential to receive dividends Provides a combination of protection and offers guaranteed Death benefit Level premiums Cash value accumulation

Term vs. Whole Life Flyer

UNDERWRITING OFFER SECTION


Initial Open Enrollment - November in 2024	$100,000 Guarantee Issue $250,000 Express Issue Per Enrollment Period with a $1,000,000 Lifetime Max Subsequent enrollments will be eligible for Remainder of Guaranteed Issue amount at anniversary of initial offer If no coverage is elected at initial open enrollment, there will be underwriting required in subsequent open enrollments.

• Guaranteed Issue:
• Express Issue :

HOW MUCH DOES IT COST?

Here’s an example of the weekly premiums for a tobacco-free employee to be covered with $50,000 of coverage.

Age	25yo.	45yo.	55yo.
Cost per week*	$7.62	$19.04	$33.24

*	This is a hypothetical example only and is not binding. Additional policy features, or riders, are not included in the examples above and may be available at an additional cost. Rates may vary based on age, tobacco status and state. Rates are as of March 26, 2024 and are subject to change.

WHY MASSMUTUAL?

We have a history of financial strength.

With over 170 years in the insurance industry, we have a long history of remaining strong during changing market conditions.

We're a mutual company.

That means we don’t have shareholders. Instead we operate for the benefit of our members and participating policyowners.

We put your financial wellness first.

It’s our goal to help you plan for the moments that matter most in life — and to be financially well, wherever you are on your financial journey.

ADDITIONAL INFORMATION

HOW DO I APPLY?

Eligible employees can schedule a consult with a Benefit Counselor to review the whole life coverage options or call the call center from 9am to 9pm PST, Monday through Friday starting on Sep 3rd

Schedule a time with a Benefit Counselor

Schedule Here

Username: is your MUSC email address
Temporary Password: is Benefits2024 (Capital B)

Note: The schedule link will be available starting on 9/4 following the text message with registration instructions

If there are any issues with registering and scheduling, please email [email protected]

Call the Call Center

(844) 908-3348

Self-enroll

Access Enrollment

Username: is your SSN
Password: is the last 4-digits of your SSN and your 2-digit birth year

¹	As long as premiums are paid.
²	Dividends are not guaranteed. The certificate is eligible to receive dividends beginning on the second anniversary.
³	Access to cash values through borrowing or partial surrenders will reduce the certificate’s cash value and death benefit, increase the chance the certificate will lapse, and may result in a tax liability if the certificate terminates before the death of the insured.
⁴	Riders and other benefits under the certificate, such as the Chronic Care Benefit, may be available for an additional premium or have a fee when exercised. The Chronic Care Benefit is not approved in MA.

The product and/or certain features may not be available in all states. State variations will apply.

Group Whole Life Insurance (GPWL), (policy/certificate forms MM-GPWL-2014 and MM-GCWL-2014, and MM-GPWL-2014 (NC) and MM-GCWL-2014 (NC) in North Carolina), is level-premium, participating permanent life insurance. The GPWL policy and GCWL certificates are issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001.