Coverpath by MassMutual Review - Savology Provider Review

Coverpath is a new, technology-enabled life insurance offering by MassMutual. MassMutual has been one of the top life insurance providers for the last century and is now more accessible than ever before. Coverpath is designed to make the life insurance application process easier with the new online platform.


Coverpath Overall Rating 4.4 ★ / 5 ★

Coverpath by MassMutual gives consumers better access to one of the most reputable, trusted, and highly-rated life insurance providers in the industry. MassMutual has a long and rich history of providing excellent life insurance options and other products through their local financial planners and financial advisors. Now they are enhancing this experience with easier access through a digital platform. Coverpath is one of the first to digitally provide additional options such as whole life insurance and multiple riders on their term insurance products.

Coverpath Pros and Cons

Pros of Coverpath

  • Company financial security and insurance ratings 
  • Faster and smoother application than the traditional paper process
  • DIY application or access to a financial professional 
  • 24/7 customer support 
  • Policies are convertible to whole life if ever needed
  • Riders can be added to policies, which is rare in digital insurance providers
  • Offer whole life or term life options
  • Have whole life options for juveniles
  • In many cases, a medical exam is not required and coverage can be bound same day

Cons of Coverpath

  • Longer and more complex application process than some competitors
  • Requires you to create an account and enter your social security number early on 

Reputation, Credibility, and Trustworthiness 5.0 ★

Coverpath by MassMutual is trustworthy. MassMutual was established in 1851 and is now a Fortune 100 company. They have been doing life insurance the right way for over 160 years. They are a mutual company, which means they are owned by their life insurance policyholders. This more closely aligns the company’s interest with its customers. 

MassMutual has a long track record of meeting its customers’ needs, providing innovative products, and paying out industry best dividends. MassMutual is committed to continuing this and providing the best products and services on the market. 

MassMutual is highly-rated when it comes to its company strength. Below is an overview of their ratings: 

  • A.M. Best Company: A++ (Superior; Top category of 15)
  • Fitch Ratings: AA+ (Very Strong; second category of 21)
  • Moody’s Investors Service: Aa2 (Excellent; third category of 21)
  • Standard & Poor’s: AA+ (Very Strong, second category of 21)

MassMutual also takes protecting your data seriously. Coverpath has a text message verification to get into an account. This is one additional layer of security that they have added as a way to further protect your data. 

Coverpath Customer Service 4.7 ★

Sometimes a digital experience comes with a decrease in customer service. That is not the case here. Coverpath has excellent customer service. They have a customer support team that is available 24/7 by phone or email. If you have any questions or trouble with your application you can call them directly and get help. 

Coverpath also has a frequently asked questions (FAQs) page where you can read and find answers to any questions you have about Coverpath and how it works. They answer questions about everything from the temporary coverage you get, to the convertible term, to the whole life insurance policies that are offered. 

Lastly, each application is linked to a financial professional who is a life insurance agent. This means that you will have a personal agent to help you with any life insurance questions that you have. A knowledgeable life insurance agent can be a huge advantage because they can customize your policy to any need that you may have. If you have any special needs for your policy, Coverpath may be better suited for you than others because you can get started online and then get personalization from your agent as you need. 

An agent is also available to provide service as needed after binding your policy. Many agents specialize in helping individuals with additional aspects of their personal finances. The only downside to an agent, in this case, is they get paid more when you get more life insurance or specific kinds of life insurance. So be sure to understand what the product is that they are providing to you and if it is the right fit for you. You also want to be sure that you feel comfortable with the death benefit amount they are recommending. For a second opinion on what type of insurance is right for you and to better understand some of the nuances, you can read our guide to life insurance or create a free financial plan with Savology

Coverpath Flexibility 4.5 ★

Coverpath provides a significant degree of flexibility in their platform and life insurance products. 

They have additional rider options that you can’t get through most online life insurance providers. For example, they have a waiver of premium rider and an increased convertibility period option.

The waiver of premium is where if the policy owner becomes disabled due to illness or accident, then their premium payment is waived. You also have the option to convert your term insurance to a whole life policy for a longer period of time. These additional flexibilities are not available through other strictly online platforms. With any riders, you receive a premium increase estimate so that you know the exact cost to add these different riders.    

Here are the options under life insurance options with Coverpath: 

Convertible Term Insurance 

  • Issue ages for 10, 15, 20, 25 year  level term premium terms:
    • Ages 18 to 60: $100K to $3M
    • Ages 61 to 64: $100k up to $1M
  • Issue ages for 30 year level premium term:
    • 18-54 non-tobacco classes
    • 18-49 tobacco classes

Whole Life Insurance 

  • Issue ages for whole life policies for up to age 65:
    • Max Policy Size for Age 18 – 60: $3,000,000
    • Max Policy Size for Age 61 – 65: $1,000,000
    • Juvenile Policies, age varies by state: $1,000,000

If you want a whole life policy, you will fill the policy out as if it is term and then contact your financial professional (agent) to adjust the policy. The whole life is a unique option that Coverpath offers. Coverpath is the first major insurance provider to offer a whole life policy through an online application. 

As previously mentioned, with Coverpath you also get a personal agent. This agent can help structure your policy with additional flexibility based on your unique needs. This added personalization is an added benefit of Coverpath. 

Coverpath Efficiency 3.5 ★

Coverpath’s application is more comprehensive upfront than many others. While it is better than the old paper applications, it still has many similarities in the data requested. The application is longer, more cumbersome, and less intuitive than some of the newer tech-focused life insurance applications out there. This will likely change over time as Coverpath matures, but at least they have a great customer service team that can help you if you get stuck. 

There were a few other areas of inefficiency with Coverpath. The website would occasionally experience slow loading times or intermittent freezing. While it may feel like information or progress could be lost in the process, generally speaking, the system was reliable enough to keep the application flowing smoothly. 

As part of the application, you create your own account where you can track the application process.  Some users report not liking that they had to create an account so early on in the process or provide a social security number in the application. But, it is nice that you don’t have to put in your payment information or commit to anything as part of the application to get a quote. 

Coverpath’s application can initially approve you for 3 ways, which in turn dictates what happens after your application: 

  • Express Path: This is where you are younger (under age 45) and have excellent health. This path allows for a quick underwriting process where you are approved in minutes, can forgo a medical exam, and can bind coverage on the same day. 
  • Temporary Path: This is where you are relatively healthy, but they need more information to approve your coverage. This path often includes a medical exam for final approval, but occasionally just requires a 1 day underwriting review that can still forgo a medical exam. 
  • Traditional Path: This is where you have family medical history, lifestyle, or other concerns. This path includes a medical exam and may require additional attention or information in order to get your final approval. 

Is Coverpath Right for You?

Coverpath was created by MassMutual to make their life insurance easier than ever with this new digital insurance platform. MassMutual is one of the most reputable insurance providers and now Coverpath makes it easier to access their highly-rated insurance products. If you are looking for a digital option that has the backing of a well-established company and the personalization that can come through having your own financial professional then Coverpath is perfect for you.  

This review is provided by and expresses the opinions of Savology to help users make informed financial decisions. Savology does not receive compensation for its product or provider recommendations but views such recommendations as an important part of helping people progress toward financial security.

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