Breeze Logo

MassMutual Long-Term Care Insurance: 2023 Review

Read Time
4 mins
MassMutual is a superior-rated (A++) insurer that offers two hybrid long-term care insurance options, CareChoice One and CareChoice Select, featuring different premium structures.

MassMutual offers two long-term care insurance options:

  1. CareChoice One
  2. CareChoice Select.

The two policies are identical, except CareChoice One is a single-premium product (only one premium payment is needed with the application), and CareChoice Select is a level-premium product (premiums are paid for 12 years).

CareChoice policies are a hybrid long-term care/life insurance product. Even though the death benefit is of secondary importance to policyholders in most cases, it does provide tax advantages for those looking for long-term care insurance and who don’t mind having part of their premium pay for life insurance.

MassMutual LTC policy features

Though the length of premium payments is different for the CareChoice policies, they both offer three important guarantees:

  • A guaranteed pool of long-term care benefits is available once eligibility requirements and a 90-day elimination period have been satisfied
  • A guaranteed death benefit equal to the policy face amount
  • A guaranteed policy surrender value that generally increases each year, which the policyholder will receive if they decide to cancel their coverage

While there is no guarantee, CareChoice policies are eligible to receive annual dividends, which are added to the cash surrender value.

Receiving long-term care benefits reduces the policy’s death benefit and surrender value.

CareChoice policies also have an accelerated death benefit if long-term care is needed. The policy initially uses a portion of the death benefit to pay for long-term care benefits. Once the accelerated death benefit is exhausted, the CareChoice policy then provides an extension of long-term care coverage.

The total dollar amount of coverage received is considered the “long-term care benefit pool.”

The MassMutual agent selling CareChoice coverage is required to provide an illustration showing how the long-term care benefit pool and accelerated death benefit work.

What's covered by CareChoice One & CareChoice Select?

CareChoice One and CareChoice Select offer the standard benefits most LTC policies provide, including:

  • Home health care
  • Assisted living care
  • Nursing home care
  • Hospice care
  • Adult daycare

Learn More: How Much Is Long-Term Care Insurance?

MassMutual long-term care pros & Cons


  • Choice of premium options between policies (single-pay or 12-pay)
  • Backed by the financial strength of MassMutual


  • The death benefit is reduced if the long-term care portion of the policy is used
  • A limited number of policy options are available

About MassMutual

MassMutual began operations in 1851 and is a Springfield, Massachusetts-based life insurance company. It provides a range of financial products, including life insurance, disability income insurance, retirement plans, annuities, and long-term care insurance.

The company has revenues of $10.7 billion annually and has $312 billion of assets under management as of 2022. Mass Mutual employs more than 7,000 people in the U.S. and over 10,000 internationally.

In addition to being ranked number 100 on the 2022 Fortune 500 list, MassMutual has superior financial ratings:

  • AM Best: A++ (Superior)
  • Moody’s: Aa3 (High Quality)
  • Standard & Poor’s: AA+ (Very Strong)
  • Fitch: AA+ (Very Strong)

Roger Crandall is the company’s President and CEO.

Is MassMutual the right LTC provider for you?

CareChoice One and CareChoice Select are viable options for anyone looking for a hybrid long-term care/life insurance policy that provides tax-free benefits when either coverage is needed. It is backed by an established, financially solid company with a nationwide agent sales channel.

Because of the whole life element, these policies are considerably more expensive than traditional stand-alone long-term care insurance policies. If you already have adequate life insurance in force, an alternative to a hybrid long-term care policy should be considered.

The information and content provided herein is for educational purposes only, and should not be considered legal, tax, investment, or financial advice, recommendation, or endorsement. Breeze does not guarantee the accuracy, completeness, reliability or usefulness of any testimonials, opinions, advice, product or service offers, or other information provided here by third parties. Individuals are encouraged to seek advice from their own tax or legal counsel.