MassMutual Tele-CMI and paramed exam changes extended through March 31

Term conversion and Platinum Pass Program limited time offers end Dec. 31

 

 

Dave Kanney, MMSD Chief Life Underwriter

 

To give us additional time to review and assess the results of the pilot, MMSD Life New Business and Underwriting will extend the changes to the tele-CMI and paramedical exam (paramed) programs. The goal of the enhancements was to provide for for a better term-, whole-, and universal-life insurance underwriting experience and industry alignment. 

 

Requirement eligibility and pilot changes

In lieu of the existing tele-CMI process, we introduced the paramed (Part 2) and a new Electronic Inspection Report (EIR) provider for proposed insureds using the following age and coverage amount parameters:

  • Ages 17-60 will use a paramed for amounts of $3,000,001-$10 million.
  • Ages 61-70 will use a paramed for all amounts.
  • Ages 71+ will continue to complete a Tele-CMI.

There will continue to be no change for DI. DI applications will still use Tele-CMI if applicable and if a Concur application comes in with both DI and Life at the same time, then it will follow the DI Tele-CMI process. 

 

Term conversion and Platinum Pass Program limited time offers end Dec. 31
Until Dec. 31, 2023, MassMutual will:

•  Allow a 25% increase in face amount with no additional
     underwriting requirements on conversions of the Vantage
     Term and MassMutual Convertible Term product series to
     new or existing MassMutual whole life insurance policies
     (existing  policies must have face amount increase provision).

•  Expand The Platinum Pass Term Program and express
     underwriting (no exam) process to approved outside carriers
     (for a limited time) and risk classes used with the Platinum
     Pass Perm express underwriting program.

Review the detailed business rules for more information.

FURTHER INFO:

•  For support, call MMSD New Business & Underwriting at 1-800-601-9983, Option 4.

• For Underwriting Marketing Materials, visit our MMSD Underwriting Digital Hub.

FOR FIRM USE. NOT FOR USE WITH THE PUBLIC.

 

MassMutual Strategic Distributors® is a division of Massachusetts Mutual Life Insurance Company.

 

© 2023 Massachusetts Mutual Life Insurance Company (MassMutual®), 1295 State Street, Springfield, MA 01111-0001. All rights reserved. www.MassMutual.com.

 

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