Only after you digitally sign the application will there be an initial, one-time draft from your bank account based on the expected monthly premium* for the full amount of coverage you applied for**. This charge will cover you for up to $1,000,000 through the process and will be applied towards your first month of full coverage. If you decide to cancel at any point during the process of getting full coverage, you will get a full refund and your temporary coverage will be cancelled.
*Excluding any Waiver of Premium, if selected.
**The minimum payment required in order to provide you with temporary life insurance coverage of $1,000,000 must be equal to a one-month premium under the full amount of the policy applied for. In the event that a death benefit is due during the temporary coverage period, MassMutual will return to the owner any excess amount of premium paid above the $1,000,000 of death benefit due.