WALNUT CREEK, CA--(Marketwired - Dec 9, 2014) - MassMutual San Francisco (www.sanfrancisco.massmutual.com), a Massachusetts Mutual Life Insurance Company (MassMutual) general agency headquartered in Walnut Creek, California, announced today it has reached an agency record of helping more than 35,000 residents in Northern California meet their financial goals by incorporating whole life insurance into their plans. The firm has more than $8 billion dollars of life insurance in force protecting area families and businesses.
"With the cost of living always going up, and salaries stagnating, it is very clear that our clients are taking a more careful look into financial planning for the future," said CEO Robert Fakhimi of MassMutual San Francisco & MassMutual Northern California. "Whole life insurance is an exceptional way for individuals to help ensure their dependents will continue to remain financially secure. We're committed to helping our customers and their families make sound decisions that protect their financial future."
Fakhimi reported agency clients have more than $500 million of cash value in their life insurance policies; that is also a record.
"The permanence and many other benefits of whole life insurance are at the foundation of a solid financial strategy," said Mr. Fakhimi. "People tend to think of life insurance policies, even whole life insurance coverage, as a final sum, when the latter should also be considered for its guaranteed premium, death benefit and cash value growth, as well as its ability to earn dividends**."
Whole life insurance policy owners may use dividends for a broad range of options, including receiving dividends in cash or using them to pay premiums, purchase paid-up additional insurance coverage, accumulate as interest, or repay policy loans and policy loan interest.
As a MassMutual general agency, MassMutual San Francisco leverages the resources of a 163-year old company with local expertise on helping clients achieve their financial goals. The agency offers a broad range of products and services, including life insurance, annuities, disability income insurance, long-term care insurance, and retirement planning products and services. Main offices are located in Walnut Creek, Fremont, San Francisco and Roseville.
About MassMutual
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policy owners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policy owners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; Oppenheimer Funds, Inc.; and The MassMutual Trust Company, FSB. Local sales agencies are not subsidiaries of MassMutual or its affiliated companies.
** Dividends are not guaranteed.
For more information, visit www.sanfrancisco.massmutual.com or 'Like' MassMutual San Francisco on Facebook.
Contact Information:
MEDIA CONTACT:
Erica Zeidenberg
925-631-0553