Additional Solutions

 

  QuickCloseSM - 

QuickClose — Get the collateral you need to close your business loan…fast
You know just what it'll take for your business to succeed, and you’ve created a plan that may include:
  •  buying real estate
  •  expanding operations
  •  investing in equipment
  •  restructuring debt
A business loan will help you accomplish your goals, but if your lender requires life insurance as collateral, you won’t want to wait weeks for the policy you need to receive your loan. QuickClose can help.
 
QuickClose is a program developed by Massachusetts Mutual Life Insurance Company to expedite
the application process and approval time of a life insurance policy used to secure a business
loan1. QuickClose has proven to be a successful option for thousands of business owners and their
lenders. Working with you and your lender, we can help you select an insurance policy that will help
you meet your borrowing terms, protecting you and your business -- without delaying the
processing of your loan.
 
How QuickClose works
You (or your business) own the life insurance policy, choose your beneficiary, and make the policy premium payments. While your loan is in effect, your lender retains "Collateral Assignment" of the policy. That means if the person insured by the policy dies while the loan is in effect, your lender has the right to claim a portion of the policy proceeds equal to the outstanding loan balance. Any remaining proceeds are paid to the beneficiary you've named.
 
If your life insurance policy proceeds are not paid out during the term of the loan, the Collateral Assignment ends when you've paid off your loan. Your lender will no longer have any rights to the policy. Your policy remains in effect as long as you continue to make premium payments (or, in the case of a term policy, the term is completed and you do not renew it).
 
Easy to apply
If you've just applied for a loan—or will be doing so soon—and you need life insurance to help meet collateral requirements, call us today for details about QuickClose. It can make all the difference in helping you quickly get the loan you want to help your business succeed.
QuickCloseSM is a service mark of Massachusetts Mutual Life Insurance Company, Springfield, MA  01111-0001
1QuickClose is not a guaranteed issue program. Your application will be fully underwritten and coverage may be declined.
Securities offered through registered representatives of MML Investors Services, LLC. 1414 Main Street, Springfield MA 01144  (413) 737-8400. Member NASD/SIPC.
 
businessKillers® -

How can you avoid the six mistakes that could destroy your business and your financial future?

Many factors could trigger the death of your business. For example, who would run your business if you were to become disabled or die? Would you be able to retire if your business suddenly dropped in value by thirty or forty percent, just when you are ready to sell it to fund your retirement? The impact of inadequate planning on you, your business, your partners, or your heirs could be devastating.

You can prepare your business for these and other hazards by participating in a businessKillers workshop, available to you without cost or obligation and offered exclusively through MassMutual.

An innovative workshop

Attending a bK workshop can help you understand and avoid the six mistakes that could jeopardize the success and continuation of your business. Through videos that depict risk scenarios common in small, family-owned, or franchised businesses, you’ll learn from independent experts who share their insight with you about possible outcomes and recommended solutions. The accompanying Risk Barometer can help you assess the level of risk your particular business may face, and can help pinpoint ways to defend it against these risks. 
 

The Family Business Center- Provides family owned businesses the opportunity to learn from each other and from family business professionals about succession planning issues at approximately 60 family business centers nationwide. Most family business centers are affiliated with a college or university. 

Strategic Alliances - A program in which general agencies of Massachusetts Mutual Life Insurance Company (MassMutual) can establish business relationships with community banks and local financial institutions or CPAs and CPA firms to represent the insurance and securities* products of MassMutual and MML Investors Services, LLC. to their respective client base.

Life Care Planning- Advisors to individuals with disabilities and other special needs and their families include attorneys, physicians and other medical professionals, accountants, and social workers. Collaborating with one or more of this group ensures that all aspects of a Life Care Plan can be constructed properly.

 Wealth Management:       Video Demo: E-Money Planning Services

  •  Asset Allocation Analysis
  •  Document Review
  •  Pre/Post Retirement Analysis
  •  Simple or Comprehensive Fee-Based Financial Planning

     


    QuickCloseSM is a servicemark of Massachusetts Mutual Life Insurance Company, Springfield, MA  01111-0001
    businessKillers® is a trademark of Lighthouse Strategic Projects Group, Inc. Langhorn, PA
    *Securities offered through qualified Registered Representatives of MML Investors Services, LLC., member SIPC.

     

    businessKillers® is a trademark of Lighthouse Strategic Projects Group, Inc. Langhorne, PA