Mass Mutual loses it's AAA rating with S&P

Well, once again the rating agencies have struck again, this time with a down grade of the Mass Mutual Life Insurance Company from it's highest rating of AAA to AA+.

The story explaining the thought process and the companies reaction to it is in today's Boston Globe online and you can access it by clicking here.

If you have any of their products I would lose absolutely zero sleep over this down grade, although I am sure it is a wound to the pride of the MML guys, who compete with NY Life, Northwestern Mutual and TIAA CREF in the upper crust sales of life insurance, annuities and pension products. That AAA rating is a big marketing tool, but much as John Hancock, Pacific Life, Met Life and others have been moved to AA+, they will live through it.

Mass Mutual, while no longer in the structured settlement arena, still has a large installed base of settlement annuities on their books. What ever you do, if you are a beneficiary of a structured settlement with Mass Mutual, do NOT let a factoring firm use this information to scare you into cashing in your annuity. In fact if you get such a solicitation let me know so we can report them to the appropriate state insurance authorities.