Massachusetts Mutual Life Insurance Company and New York Life Insurance Company offer life insurance policies, as of 2015, notes About.com. Both companies have been in business for more than 150 years and offer several types of life insurance plans.
Massachusetts Mutual Life Insurance Company offers whole life, universal life, variable universal life and survivorship life insurance policies, notes About.com. The company's whole life insurance policies have guaranteed premiums and death benefits, and carry a cash value. People who purchase the company's universal life insurance can vary the amount of their coverage, and make payments based on income. Variable universal life insurance from Massachusetts Mutual Life Insurance Company allows people flexible premiums, and lets them allocate their premiums and account value to different accounts. Survivorship life insurance covers two people under one policy, and benefits are paid after both die.
New York Life Insurance Company offers whole life, universal life, variable universal life, term life and corporate life insurance, states About.com. The company's variable life insurance policy allows consumers to place a portion of the cash value of their polices into the investment market. New York Life Insurance Company offers term life policies in five-year increments up to 20-year terms. The company's corporate life insurance polices are designed to help employers offer affordable choices to their employees.